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which are the two preferably periods of time to review financial reports.

which are the two preferably periods of time to review financial reports.
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Answer #1

A reporting period is the time span for which a company reports its financial performance and financial position.

A company can choose to use the traditional calendar year of 12 months or adopt a 12-month fiscal year.

Companies usually use the same reporting periods in order to make a comparison of the current financial year with previous year.

Depending on the interested audience’s requirements, the reporting period can be for a month, quarterly, semi-annually, or annually.

The two preferably periods of time to review financial reports are :-

Semi- annually and quarterly

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