STATUTORY CONSOLIDATION Definition

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STATUTORY CONSOLIDATION is a merger where a new corporate entity is created from the two merging entities; the two merging entities then cease to exist. See also STATUTORY MERGER.

Learn new Accounting Terms

FISCAL PERIOD is a unit of time (corresponding to calendar months) into which the fiscal year is divided. Period 1 is July 1st through July 31st, and so on. An extra accrual period also exists. See 13TH PERIOD.

TAX ACCOUNTING is the planning of business strategies based on tax consequences and avoidance.

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