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English definition of “accounting period”

accounting period

noun [C]
 
 
( also trading period)
ACCOUNTING a period of time at the end of which a company prepares a financial report, for example after three, six, or twelve months: At the end of the accounting period, the revenue accounts are totalled and the balance, positive or negative, transferred to the profit and loss account. The new rules will apply for accounting periods beginning on or after 1 January.
(Definition of accounting period from the Cambridge Business English Dictionary © Cambridge University Press)
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