Accounting period: Whenever accounts are prepared after a specific time period.

Fiscal year, Financial year : used for income tax reporting. Deferred Expenditure: Miscellaneous expenses to the extent not written off Special case of intangible assets, not for earning revenue but for benefits over several future periods Restructuring exp, incorporation cost, advertising n promotion cost for new product launch, expense for issue of capital (IPO), expense for s/w package implementation

Bills of exchange Promissory Note Bank Overdraft