Difference between revisions of "Calendar year"

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[[Calendar year]] (alternatively known as [[natural business year]] or, sometimes, as [[fiscal year]]; however, [[fiscal year]] can be something other than a [[calendar year]]). The 12-month period an [[organization]] chooses for its accounting year.
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[[Calendar year]] is a 1-year period beginning on January 1 and ending on December 31. In [[United States]], employers must use a [[calendar year]] for payroll purposes, even if the employer uses a [[fiscal year]] or [[natural business year]] for [[financial report]]s and for any other reason.
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==Definitions==
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According to [[College Accounting: A Practical Approach by Slater (13th edition)‎]],
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:[[Calendar year]]. A 1-year period beginning on January 1 and ending on December 31. In [[United States]], employers must use a ''calendar year'' for payroll purposes, even if the employer uses a [[fiscal year]] for financial statements and for any other reason.
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==Related concepts==
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*[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
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==Related lectures==
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*[[Principles of Accounting]].  
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[[Category: International Accounting]][[Category: Articles]]

Latest revision as of 23:55, 4 January 2019

Calendar year is a 1-year period beginning on January 1 and ending on December 31. In United States, employers must use a calendar year for payroll purposes, even if the employer uses a fiscal year or natural business year for financial reports and for any other reason.


Definitions

According to College Accounting: A Practical Approach by Slater (13th edition)‎,

Calendar year. A 1-year period beginning on January 1 and ending on December 31. In United States, employers must use a calendar year for payroll purposes, even if the employer uses a fiscal year for financial statements and for any other reason.

Related concepts

Related lectures