Calendar

 Calendar presents the period for which the business is carried forward.
 Accounting Calendar-

Decided based on statutory requirement.

 Calendar Year (1st January to 31st December)

Fiscal Year (1st January to 31st March)

 Currency

Currency refers to generally accepted medium of exchange

Two types of currency

a) Functional currency

It is the currency we use to record transactions and maintain your

accounting data

b) Reporting currency
This type is related to Reporting of accounts. The currencies are

automatically converted according to country

 Accounting Convention/Method

 Standard Accrual as a seeded Accounting Method

 Based on US GAAP
 Accounting Method such as Cash Basis are not
supported