How many Normal and Special periods will be there in fiscal year, why do u use

How many Normal and Special periods will be there in fiscal
year, why do u use special periods?

Question Posted / madhusudhan

3 Answers
13103 Views
I also Faced
E-Mail Answers

Answers were Sorted based on User's Feedback

How many Normal and Special periods will be there in fiscal year, why do u use special periods?..

There are 12 normal periods and 4 special periods. The
Statutory audit of any company or firm will start after the
12th month. The accounts people will not be in a position
to post all the provisional entry on the end of the day of
that particular financial year to close the books of
accounts. This special period is used to post those kind of
provisional entries and if there any other missed out
entries.

Is This Answer Correct ?

18 Yes

2 No

How many Normal and Special periods will be there in fiscal year, why do u use special periods?..

Answer / chandan

Total Noraml Periods = 12 (Max.)
Special Periods = 4 (Max.)

Special periods use for closing activity becuase of in end
of month or year lots entry will passed for accural,
provision, deprecation etc.

If i am worng so please correct me

Thanking

Is This Answer Correct ?

8 Yes

5 No

How many Normal and Special periods will be there in fiscal year, why do u use special periods?..

Answer / rakesh chauhan

12 Normal period and
4 Special Period Are there.

4 Special period is use for end of the Fiscal year. some
left entry are posting here and after Reconcilation and
Odit. Some entry are left those entry also posting here. So
that We can use 4 special period.

Is This Answer Correct ?

3 Yes

2 No

Post New Answer

More SAP FI-CO (Financial Accounting & Controlling) Interview Questions

What is an exchange rate?

0 Answers

how the invoices can be blocked?

2 Answers Infosys,

what r the activites we have to do before just golive ?

4 Answers IBM,

Where we define new in ifrs and gaap

2 Answers iGate,

how can run partial payment in APP.

7 Answers IBM,

i want to run my app with 4 different payment methods and that 4 methods are different country now can i run app with all 4 methods at a time.

4 Answers HP,

What is activity rate?

1 Answers IBM,

What is an output variance? : co- cost center accounting

0 Answers

what is difference apportionment of costs, overhead expenses and how do they differ

0 Answers Infosys,

I want to join sap fico training in bangalore, sap institute in bangalore?

1 Answers

Explain the organizational assignment in the controlling module?

0 Answers

What is asset capitalization date? and asset value date...what is difference between them. I have come across definitions still not clear...can any body explain with example...Thank you.

5 Answers

For more SAP FI-CO (Financial Accounting & Controlling) Interview Questions Click Here