Accounting Period

Here are examples of "Accounting Period" in some jurisdictions:

United States (US):

• The accounting period in the US is typically based on the calendar year, starting from January 1st and ending on December 31st.
• However, companies can choose to have a fiscal year that aligns with a different 12-month period based on their business needs.
• For example, a company may have an accounting period from April 1st to March 31st, or any other consecutive 12-month period.

United Kingdom (UK):

• In the UK, the accounting period is generally aligned with the company's financial year, which may or may not coincide with the calendar year.
• A company's financial year is typically 12 months long but can be shorter or longer based on the company's articles of association.
• For instance, a company may have a financial year from April 1st to March 31st or from January 1st to December 31st.

Australia:

• In Australia, the accounting period is commonly referred to as the "financial year" and follows the calendar year.
• The financial year starts on July 1st and ends on June 30th of the following year.
• However, some entities may choose a different accounting period if permitted under the Australian Corporations Act.

Canada:

• In Canada, the accounting period is also known as the "fiscal year" and can vary based on the company's choice and reporting requirements.
• The fiscal year can align with the calendar year (January 1st to December 31st) or differ from it.
• For instance, a company may have a fiscal year from April 1st to March 31st or from July 1st to June 30th.

It's important to note that these examples represent common practices in each jurisdiction, but individual companies may have variations based on their specific circumstances and regulatory requirements.

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