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General Accounting Discussions: Accounting Period

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    • CommentAuthorModi29p
    • CommentTimeMar 28th 2007
     
    Please can someone explain to me how to calculate the accounting period
    • CommentAuthoraccountant
    • CommentTimeMar 28th 2007
     
    The accounting period begins from the any day a company wants to open their accounts and it has a period of 12 months. Most EU/US companies prefer to have calendar year as accounting year
    • CommentAuthorDANIEL
    • CommentTimeMar 30th 2007 edited
     
    In line with the first writer I want to illustrate the anwser by given this example, a Company starts its Financial Operation on June 1st of a particular year and ends it on May 31st the proceeding year. This period that is betwee May of that year and June of the proceeding years is regarded as its financial year.

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