Accounting cycle is a complete system of accounting procedures, which is repeated in the same order during each accounting period.
Article 5Profit is the operating results of an enterprise in an accounting period, including operating profit, net investment profit and net non-operating income.
Article 6A statement of changes in financial position is an accounting statement that reflects comprehensively the sources and application of working capital and its changes during an accounting period.
Expense accrual for monthly closing and book in correct accounting period.
Three concepts used in accrual-basis accounting are the accounting period, the realization principle, and matching principle.
It is an analysis of the retained unappropriated earnings accounts for this accounting period.