Overview

period concept


Show Summary Details

Quick Reference

The accounting concept that the financial statements of a company should be produced after regular periods. The profit and loss account and balance sheet are prepared at regular intervals, for example annually, instead of after each transaction or event. This provides comparability, consistency, and regular communications.

Subjects: Accounting.


Reference entries

Users without a subscription are not able to see the full content. Please, subscribe or login to access all content.