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Investopedia explains 'Accounting Period'
While accounting periods vary in terms of reporting dates, they must be consistent. If one accounting period ends on June 30, the next must begin on July 1. From an investing standpoint, the accounting period is important because it lets potential shareholders compare apples to apples and adjust for time-sensitive data. For example, if one is aware that June is traditionally a good month for Acme Widgets, a June sales decline might be viewed as a bad omen. Similarly, a sales increase might be downgraded or at least compared to last June's financial statements to see whether it is significant.
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