GEM-CAR FAQ
Period Closing
Note well: The terms "exercise," "financial year," and "fiscal year" all refer to the period, usually one year, at the end of which an administration closes its accounts and prepares its annual financial statements.
Financial years do not necessarily end in December.
Sometimes, they end in the month when the business was established.
A financial year is divided into accounting periods. Each company has its own way of doing things.
Some prefer to close their periods every month, others quarterly, and others annually.
Posted 4 months agoby Bianca da Silveira De Amorim
#177931 viewsEdited 2 months ago