Accounting period

As an accounting period is referred to in the records of the period between two statements. For the statutory financial statements, the corporate fiscal year shall be deemed accounting period ( this does not coincide with the calendar year), quarterly and monthly financial statements for correspondingly shorter periods are defined.

To determine the financial success of a company properly, all transactions must be recorded on an accrual basis in accounting, in particular the income and expenses and inventories. If a transaction spans multiple periods, accruals and provisions are formed.

At the end of an accounting period the accounts are closed and the drawn balances. In electronic systems, the accounts for bookings in the ancient period are disabled, manually guided accounts sheets must be marked as completed and protected from subsequent additions. While a contract can be booked in parallel in ongoing and new period, according to accounts closing bookings are only possible with the date of the new period.

( So were operations that captures neither the usual way in the correct fiscal year or delimited ) Non-periodic postings are shown separately for clarity; this stems from the generally accepted accounting principles. Of particular importance is the separation result in relevant postings as period income and expenses not included in the operating result.

• Accounting