financial reporting period
- *financial statements. An *income statement reports revenues and costs for a financial reporting period, normally 12 months under most systems of *Generally Accepted Accounting Principles, and a *balance sheet reports *assets, liabilities, and *equity on the final date of the reporting period. See also *fiscal year.
Auditor's dictionary. 2014.
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financial reporting — ➔ reporting * * * financial reporting UK US noun [U] ► ACCOUNTING, FINANCE information that businesses give about their financial situation, including the profit or loss for a particular period, or the process of giving this information: »The… … Financial and business terms
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To extend over both sides of a physical divide or a point of time. Accounting *cutoff is complicated by transactions that straddle two or more *financial reporting periods. — A cost or revenue *allocation method that provides for equal amounts in each period of time. The rationale for using a straight line basis is that the economic activity of the underlying assets or circumstances occurs at a constant level over… … Auditor's dictionary
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period — pe‧ri‧od [ˈpɪəriəd ǁ ˈpɪr ] noun [countable] a particular length of time: • She has been taken on for a 6 month trial period. acˈcounting ˌperiod ACCOUNTING a period of time to which a particular payment is related for accounting or tax purposes … Financial and business terms