ACCOUNTING CYCLE is the sequence of steps in preparing the financial statements for a given period. It refers to the fact that because financial reports are given each period (usually a year) there are a set of steps (cycle) taken each period that result in the reports and preparation for the next period or cycle. The term cycle is used because every period there is a start and an end. The cycle usually starts with the budget, goes through the journal entries, adjusting entries, posting to the accounts, financial reports, and closings.
NORMALIZED EARNINGS is earnings that have been adjusted in order to take into account the effect of cycles in the economy.
PERTURBATION CONTROL is a restriction control to limit the access a particular user has to details in a database. It introduces noise into the output (perturbs, or changes it) to shield the specifics of one record from the person who has only access to summary information.
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