Accounting Period

The length of time covered by financial statements and other reports; also called reporting periods. Fiscal accounting periods range from 6 months to 12 months, and most companies usually have a year-end of December 31st. That is, by this date all accounting records for the year must have been posted to the general ledger & the company must produce financial statements for viewing by interested parties such as shareholders, creditors, investors and internal/external management.

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