1) The period for which a business prepares its accounts. Internally, management accounts are usually produced either monthly or quarterly. Externally, financial statements are produced for a period of 12 months (interim accounts are often produced for the first six months), although this may vary when a business is set up or ceases or if it changes its accounting year end.

See:

financial accounting, management accounting.

2) (chargeable account period) A period in respect of which a corporation tax assessment is raised. It cannot be more than 12 months in length. An accounting period starts when a company begins to trade or immediately after a previous accounting period ends. An accounting period ends at the earliest of:

●12 months after the start date,

● at the end of the company's period of account,

● the start of a winding-up,

● on ceasing to be UK resident.

• corporate venturing
• corporate venturing scheme
• corporation
• corporation tax
• correlation
• correlation coefficient
• correspondent bank
• corset
• cost accountant
• cost-benefit analysis
• cost effectiveness
• cost of capital
• cost of carry
• cost of funds
• cost-plus contract
• cost-push inflation
• cote officielle
• coulisse
• council tax
• counterparty
• counterparty risk
• countertrading
• countervailing credit
• country risk
• coupon