what are accounting period
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An accounting period, in bookkeeping, is the period with reference to which management accounts and financial statements are prepared. In management accounting the accounting period varies widely and is determined by management. Monthly accounting periods are common.
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Answer:An accounting period is a period of time that covers certain accounting functions, which can be either a calendar or fiscal year, but also a week, month, or quarter, etc. Accounting periods are created for reporting and analyzing purposes, and the accrual method of accounting allows for consistent reporting.
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