Accounting Period in a sentence
Synonym: reporting period.
Meaning: A specific time frame used for reporting financial information.
(1) The accounting period for this loan is 15 years.
(2) The accounting period for this warranty is one year.
(3) The accounting period for this project is six months.
(4) The accounting period for this investment is five years.
(5) The accounting period for this contract is three months.
(6) The accounting period for this budget is one fiscal year.
(7) The accounting period for this quarter ends on March 31st.
(8) The accounting period for tax purposes is usually one year.
(9) The accounting period for this sales contract is one month.
(10) The accounting period for this lease agreement is ten years.
Accounting Period sentence
(11) The accounting period for this insurance policy is one year.
(12) We need to close the books for the current accounting period.
(13) The accounting period for this rental agreement is six months.
(14) Adjusting entries are made at the end of an accounting period.
(15) The accounting period for this project is from June to August.
(16) Antedate the journal entry to the appropriate accounting period.
(17) The accounting period for this franchise agreement is five years.
(18) The trial balance is prepared at the end of an accounting period.
(19) The accounting period for this company is from January to December.
(20) The accounting period for this partnership agreement is indefinite.
Accounting Period make sentence
(21) The revenue account is closed at the end of each accounting period.
(22) The accounting period for this budget is from October to September.
(23) We need to reconcile the accounts at the end of the accounting period.
(24) Closing entries are typically made at the end of an accounting period.
(25) The accounting period for this contract is from September to December.
(26) The accounting period for this investment is from January to December.
(27) The financial records are audited at the end of each accounting period.
(28) The statement of cash is prepared at the end of each accounting period.
(29) The bad debt expense was allocated to the appropriate accounting period.
(30) The imprest balance was reconciled at the end of each accounting period.
Sentence of accounting period
(31) Closing entries are typically made at the end of each accounting period.
(32) The accounting period for the previous year has been closed and audited.
(33) The accounting period for this department is from July 1st to June 30th.
(34) The company's cash flow has improved during the current accounting period.
(35) The income summary account is closed at the end of each accounting period.
(36) The financial statements are prepared at the end of each accounting period.
(37) The company's profits have been consistent over the past accounting period.
(38) The company's assets have grown significantly during the accounting period.
(39) The company's liabilities have decreased during the last accounting period.
(40) Accruals are used to match expenses with revenues in the accounting period.
Accounting Period meaningful sentence
(41) Accrued expenses are typically paid off in the following accounting period.
(42) Accruable expenses should be recorded in the appropriate accounting period.
(43) The accounting period for this fiscal year is from April 1st to March 31st.
(44) The accounting period for this company is from January 1st to December 31st.
(45) The accounting period for this tax return is from January 1st to December 31st.
(46) The company's revenue increased significantly during the last accounting period.
(47) The company's expenses were higher than expected during the last accounting period.
(48) The financial reports are reviewed by auditors at the end of each accounting period.
(49) The ending inventory consists of unsold products at the end of the accounting period.
(50) The financial statements are prepared on a monthly basis during the accounting period.
Accounting Period sentence examples
(51) The adjusting entry for prepaid expenses was made at the end of the accounting period.
(52) The company's inventory turnover ratio has increased during the last accounting period.
(53) Closing entries are made to reset the temporary accounts for the next accounting period.
(54) Make sure to debit within the correct accounting period for accurate financial statements.
(55) The general journal is used to record adjusting entries at the end of an accounting period.
(56) The factory overhead rate is usually determined at the beginning of each accounting period.
(57) Closing entries are necessary to reset the temporary accounts for the next accounting period.
(58) The financial statements are audited by an external firm at the end of each accounting period.
(59) At the end of the accounting period, the income summary account is closed to retained earnings.
(60) The revenue recognition process involves allocating revenue to the appropriate accounting period.
Sentence with accounting period
(61) Closing entries are necessary to prepare financial statements at the end of an accounting period.
(62) The accounting cycle is a continuous process that businesses must repeat every accounting period.
(63) The financial reports are submitted to the board of directors at the end of each accounting period.
(64) The FIFO method is used to determine the value of unsold inventory at the end of an accounting period.
(65) By using the accrual method, the company can match revenue and expenses in the same accounting period.
(66) The adjusted trial balance is a critical step in the closing process at the end of an accounting period.
(67) In a periodic inventory system, the cost of goods sold is calculated at the end of the accounting period.
(68) Accruals are necessary to ensure that expenses and revenue are recorded in the correct accounting period.
(69) Following the matching principle, costs are allocated to the accounting period in which they are incurred.
(70) The income summary account is a temporary account that is reset at the beginning of each accounting period.
Use accounting period in a sentence
(71) The accrual method is based on the principle of matching revenue and expenses in the same accounting period.
(72) The accrual method is used to ensure that revenue and expenses are recorded in the correct accounting period.
(73) Under the periodic inventory system, the cost of goods sold is calculated at the end of the accounting period.
(74) Under the periodic inventory system, the inventory balance is adjusted only at the end of the accounting period.
(75) The accounting principle mandates the proper recognition of revenue and expenses in the correct accounting period.
(76) The matching principle ensures that expenses are recognized in the same accounting period as the revenues they generate.
(77) The matching principle ensures that expenses are properly allocated to the accounting period in which they are incurred.
(78) The adjusted trial balance provided a clear picture of the company's financial position at the end of the accounting period.
(79) Accruals are an important concept in accounting and are used to match expenses with revenue in the correct accounting period.
(80) Following the matching principle, expenses are allocated to the accounting period in which they contribute to revenue generation.
Accounting Period meaning
Accounting period is a term used in accounting to refer to the time frame in which financial transactions are recorded and reported. It is a crucial concept in accounting as it helps businesses to keep track of their financial performance and make informed decisions based on the data collected during the period. If you are new to accounting or are looking to improve your accounting skills, here are some tips on how to use the term "accounting period" in a sentence:
1. Define the term: Before using the term "accounting period" in a sentence, it is important to understand what it means. You can define it as the time frame in which financial transactions are recorded and reported, usually a month, a quarter, or a year.
2. Use it in context: When using the term "accounting period" in a sentence, it is important to use it in the right context.
For example, you can say "The accounting period for this company is from January to December," or "The financial statements for the accounting period ending December 31st, 2020, show a net profit of $100,000."
3. Be specific: When referring to an accounting period, it is important to be specific about the time frame.
For example, instead of saying "The company's accounting period was profitable," you can say "The company's accounting period for the first quarter of 2021 was profitable."
4. Use it in financial statements: Financial statements are a key component of accounting, and the term "accounting period" is often used in these statements.
For example, you can say "The income statement for the accounting period ending December 31st, 2020, shows a revenue of $500,000."
5. Use it in budgeting: Budgeting is an important aspect of accounting, and the term "accounting period" is often used in this context.
For example, you can say "The budget for the accounting period from January to March 2021 is $50,000."
6. Use it in forecasting: Forecasting is another important aspect of accounting, and the term "accounting period" is often used in this context as well.
For example, you can say "Based on the financial data from the accounting period ending June 30th, 2021, we forecast a revenue of $1 million for the next accounting period."
In conclusion, the term "accounting period" is a crucial concept in accounting, and it is important to use it correctly in sentences. By following these tips, you can improve your accounting skills and communicate effectively with others in the field.
The word usage examples above have been gathered from various sources to reflect current and historical usage of the word Accounting Period. They do not represent the opinions of TranslateEN.com.