12-19-2006, 06:06 PM
Is there a defintion of business day from accouting perspective. I would think any transaction falling between 0.01hrs to 23.59hrs of a day would be considered as a transaction on that day. Is this the case or it depends on the organization. For example can a company say our day is from 5am to 5am and all transaction till 5am are considered for the last day. How would then they deal with suppliers, customers, banks and auditors?