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Basic idea ofAccounting Period Concept:
Accounting is a beck of Commerce which deals with many fundamental issues those are necessary for every business organization. One of these important facets is Accounting Period Concept, which essentially deals with the time span of the financial events. It may be a complete year or a quarter of a year or a complete month also.
During this period, a business firm or organization makes or prepares the external and internal accounts of it. It is basically covered with financial statements. It is clear from all these points that Accounting Period Concept is not only an optimal part of finance or accounting but also a complex one for students and that’s why they need Accounting Period Concept Assignment Help.
Though major numbers of companies make financial statements for 12 months, but there are the monthly concept also which can play a key role if it offers these following qualities:
1. The accrual basis of accounting
2. The matching principle
3. The adjusting entries
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