Calendar year
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
- Accounting (alternatively known as accountancy) is management of financial data, information, and knowledge about financial transactions of legal entities. 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.
