13TH PERIOD
Financial Dictionary — SEC Filings & Reporting
Definition
in the fiscal year is the period used for fiscal year-end adjusting entries (periods 1-12 being the months in the fiscal year).
Use cases, Example & Why it matters
Use cases
- Used to prepare and present financial statements and disclosures.
- Used when classifying items and explaining accounting impacts to users of the financials.
- Used when classifying items and explaining accounting impacts to users of the financials.
Example
- Example: During financial statement preparation, **13TH PERIOD** guides how information is presented and disclosed.
Why it matters
- Why it matters: Enhances transparency, improves comparability, and reduces misunderstanding by stakeholders.