BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -A reporting period, also known as an accounting period, is a discrete and uniform span of time for which the financial performance and financial position of a company are reported and analyzed.

Detailed explanation-2: -An accounting period is the time frame for which a business prepares its financial statements and reports its financial performance and position to external stakeholders. This could be after three, six or twelve months. The accounting period usually coincides with the business’ fiscal year.

Detailed explanation-3: -An accounting period, or reporting period, is often 12 months. There may be different accounting periods for various business tasks. For example, you may have one for income tax, another for sales tax, and still others for business reporting.

Detailed explanation-4: -An accounting period is a span of time that covers certain accounting functions; it can be either a calendar or fiscal year, but also a week, month, or quarter, for example. Accounting periods are created for reporting and analyzing purposes, and the accrual method of accounting allows for consistent reporting.

Detailed explanation-5: -In financial accounting the accounting period is determined by regulation and is usually 12 months. The beginning of the accounting period differs according to jurisdiction. For example, one entity may follow the calendar year, January to December, while another may follow April to March as the accounting period.