Accounting Period

What Does Accounting Period Mean?
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.

Investopedia explains Accounting Period
The accounting period is usually the calendar year.

Related Terms

Deferred Income Tax
Estate Tax
Income Tax
Last Fiscal Year - LFY
Short Tax Year
More Related Terms

Related Links

Don't Put Off Your Year-End Plan - From sales tax deductions to credit reports, check out what items should be on your financial checklist.
Year-End Reminders - If you don't know what must be done before the finish of the tax year, you may miss opportunities or even pay penalties.
Common Tax Questions Answered - We clarify some rules that often puzzle taxpayers.
When must a company announce earnings?

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