Question

what do you mean by accounting period concept

Answer 1

Answer:

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.

Answer 2

Explanation:

Accounting. 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