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Definition
Reporting Period
Also known as Accounting Period
A reporting period is the period of time covered by a set of financial statements. The reporting period is typically either for a month, quarter, or year. Organizations use the same reporting periods from year to year, so that their financial statements can be analyzed in comparison to the ones produced for prior periods.
A consistent bookkeeping process allows small business owners to make reliable comparisons between different periods.
See also
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