Difference between revisions of "Reporting Period"
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== Definition == | == Definition == | ||
'''Reporting Period''' (or ''Accounting Period'') is the period covered by [[Financial Statements]] or by an interim financial report. | '''Reporting Period''' (or ''Accounting Period'') is the period covered by [[Financial Statements]] or by an interim financial report. | ||
| + | |||
| + | Financial statements are prepared for a specified period of time (reporting period) and provide information about: | ||
| + | * assets, liabilities and equity that existed at the end of the reporting period, or during the reporting period (Financial Position) | ||
| + | * income and expenses for the reporting period (Financial Performance) | ||
== See Also == | == See Also == | ||
Latest revision as of 16:40, 6 September 2021
Definition
Reporting Period (or Accounting Period) is the period covered by Financial Statements or by an interim financial report.
Financial statements are prepared for a specified period of time (reporting period) and provide information about:
- assets, liabilities and equity that existed at the end of the reporting period, or during the reporting period (Financial Position)
- income and expenses for the reporting period (Financial Performance)
