accounting period

An accounting period is the period with mention to which all of the financial activity is occurred, Accounting periods are basically similar and include a like amount of time. The start and end dates of those time periods can be slightly different.

Definition, Explanation and Characteristics of “Depreciation” or “Accounting Depreciation

Definition, Explanation and Characteristics of “Depreciation” or “Accounting Depreciation”: Learning Objectives: Define and explain the terms “depreciation” or “accounting depreciation”. The value of assets gradually reduces on account of use. Such reduction in value is known as depreciation. Different authors have given different definitions