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Time period relating to finance or finances. Fiscal year end = the end of an accounting year/cycle. Your first fiscal year could be only 3 months as at March 31, 2010 (you start your business on Jan 1st to Mar 31st) and then thereafter your Fiscal Year End is March 31st. Fiscal period could be financial reporting for only one month. It needs to be defined by the user in a financial report of some kind.
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What does fiscal mean?
Fiscal usually relates to matters of financial stature. Fiscal could also relate to taxes and government issues. The use of the word fiscal can be combined in conjunction with fiscal cliff, fiscal year, fiscal deficit, fiscal policy and fiscal parish.
Define Prepaid revenue?
Prepaid revenues are defined as revenue that have been received in the current fiscal period but that will not be added to revenues until a subsequent fiscal period when the benefits are given.
What is the time period a budget usually covers?
a fiscal year
What terms mean related to money?
The word "fiscal" means related to money and finance.
A 12-month accounting period is called a?
a 12 month period is called a fiscal year, there is also a natural year.
What does fiscal year mean?
Fiscal years means the minimum accounting period for which books of accounts are maintained and business activity is performed.
What is a financial period?
Fiscal year
What is financial period?
Fiscal year
What is the interest due on a note payable in one fiscal period but not paid until the next fiscal period called?
The interest due on a note payable in one fiscal period but not paid until the next fiscal period is called "accrued interest." This interest is recognized as a liability on the balance sheet at the end of the fiscal period in which it is incurred, even though the payment occurs later. It reflects the obligation to pay interest that has accumulated but remains unpaid.
Why does a business need to be consistent in the fiscal period it uses for its financial reports?
A business needs to be consistent in the fiscal period it uses for financial reports for purposes of comparison and accuracy. If the fiscal period changes, then it is difficult to compare the business's performance across different periods.
What period of time is the income statement?
Income statement can be made for any period of time but normally it is one fiscal year and all expenses and incomes related to that fiscal period is shown.
What is a fiscal period?
A year of business. July to July.
What does fiscal mean?
Fiscal usually relates to matters of financial stature. Fiscal could also relate to taxes and government issues. The use of the word fiscal can be combined in conjunction with fiscal cliff, fiscal year, fiscal deficit, fiscal policy and fiscal parish.
The ending account balance of permanent accounts for one fiscal period are the beginning account balances for the next fiscal period?
th ending account balances of permanent accounts for one fisical period?
Define Prepaid revenue?
Prepaid revenues are defined as revenue that have been received in the current fiscal period but that will not be added to revenues until a subsequent fiscal period when the benefits are given.
What do you mean by current fiscal?
The current year is the one you're in. A fiscal year is a one year period, but it doesn't necessarily go January to December. A fiscal year starts when the business started (usually) and goes for one year. For a school, it might run September 1 to August 31.
What is the time period a budget usually covers?
a fiscal year
