ACCOUNTING PERIOD Definition

Bookmark and Share

ACCOUNTING PERIOD is the time period for which accounts are prepared, usually one year.

Learn new Accounting Terms

ONEROUS CONTRACT is one in which the unavoidable costs of meeting the obligations under the contract exceed the economic benefits to be received under the contract.

NONCURRENT LIABILITIES are liabilities that represent money the entity owes one year or more in the future. There are many line items in this category, the most important one being long-term debt.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.