What is periodicity assumption? Accounting Assignment Homework Help

Anonymous
timer Asked: May 23rd, 2016
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Question Description

What is periodicity assumption?  Please explain this accounting concept and provide examples when possible. This discussion needs to be at least 300-400 words.

Tutor Answer

Deriah
School: UT Austin

1
PERIODICITY ASSUMPTION

Periodicity in accounting facilitates the tabulation of a firm’s complex routine activities
into simple financial statements that are audited quarterly, monthly or annually. For example in a
manufacturing company, a product may take three years to undergo the production cycle, but its
activities may be broken down into a series of quarterly financial statements (Shoffner G.H.,
Shelly S, and Cooke R.A. 2011). Periodicity is deemed to be significant for ...

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