An accounting period is a time span that covers certain accounting functions; it can be either a calendar or fiscal year, but also a week, month, or quarter, for example.

This guide breaks down the accounting process into easy-to-follow steps that are repeatable every time a new accounting period begins. They are standardized for use across all types of business.

Some accounting rules and principles are more common than others – the time period assumption is common to cash basis accounting and all variations on accrual basis accounting, these being the ...

The accounting cycle is an eight-step process that accountants and business owners use to manage a company’s books throughout a particular accounting period—typically throughout the fiscal ...

"As such, people are likely to keep an account of monetary costs, not only during the accounting period in which they are incurred, but also in subsequent periods." RELATED TOPICS.