Accounting period definition

Accounting period is a reference to business activity that is being evaluated, such as a quarter or a year. For example, to consider seasonal influence, you might want to look at the financials for the accounting period of the first quarter for the last three years.

Additionally, accounting period might be used to identify the 12 month period of activity for tax purposes, for example, the accounting period for most small businesses is the calendar year, from January 1 to December 31. In this case, accounting period is an alternative to the term, fiscal year.

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