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The ‘Interim-ness’ of Accounts

In: Margins of Error in Accounting

Author

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  • D. R. Myddelton

Abstract

Companies which last for many years need to account regularly, and quite frequently, to their owners. But ‘going concerns’ often have much unfinished business at the end of their financial year, which leads to a need for estimates in the accounts, and it can be difficult to allocate income and expenses between accounting periods. Moreover the shorter the accounting period, the larger the proportionate margin of error in reported profit or loss.

Suggested Citation

  • D. R. Myddelton, 2009. "The ‘Interim-ness’ of Accounts," Palgrave Macmillan Books, in: Margins of Error in Accounting, chapter 2, pages 12-35, Palgrave Macmillan.
  • Handle: RePEc:pal:palchp:978-0-230-59501-9_2
    DOI: 10.1057/9780230595019_2
    as

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