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Definition of 'Accounting Period'
1. In general, the time period reflected by a set of financial statements.
2. In terms of taxation, it is the 12-month period a taxpayer uses to determine his or her income tax.
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Investopedia explains 'Accounting Period'
The accounting period is usually the calendar year.
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From sales tax deductions to credit reports, check out what items should be on your financial checklist.
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If you don't know what must be done before December 31 you may miss opportunities - or even pay penalties.
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We clarify some rules that often puzzle taxpayers.
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