What Does Semiannual mean?
The term Semiannual or semiannually is referred to when some event or transaction happens twice a year, or more simply to times in a year. Semiannual or semiannually is a common term in accounting, that’s why sacred accounting is adding this term to its accounting dictionary that aims to cover 1000+ terms of accounting in the years 2019-20.
What doesSemiannual mean?
Semi-Annualmeans occurring twice a year or occurring every six months. For example, if ameeting is called two times a year, with a gap of 6 months in between, we maycall it as semi-annual meeting.
- Something occurring every six months or twice a year is called semi-annual. (Derived from Merriam Webster)
- Anything that is done every six months or two times in a year is called a semi-annual event. (Derived from Dictionary.com)
- Semi-annual is a term used to describe something that happens twice a year or two times in a year. (The Cambridge Dictionary)
- An event happening every six months or twice a year is called a semi-annual event.
What areSemiannual Sales?
Sales that occurred during the six months or sales for the first half of the year are called semi-annual sales.
For example, suppose NHIRKM GIFTS SHOP had sales of $90,000 for the year ended 31st December 2018. While analyzing, you found that $60,000 sales belonged to the period from 1st Jan 2018 to 30th Jun 2018. These are what we call “Semi-Annual Sales” because they belong to the first half of the year or first six months of 2018. The other $30,000 belongs to the last half of the year i.e. from Jul 1st to 31st Dec 2018. They are also called Semi-annual Sales.
Semiannual and Bi-annual are both the same thing, they represent any event occurring twice a year or every six months.
Semiannual means occurring every six months whilst Biennial means occurring every two years.
For example, if a committee calls its meeting every six months, it is called Semiannual meeting. Whilst if a committee calls its meeting after an interval of two years, it is called Biennial meeting.
Is there anything else confusing you? Just comment down, Sacred Accounting will make it simpler for you to learn!
How useful was this post?
Click on a star to rate it!
Average rating / 5. Vote count:
No votes so far! Be the first to rate this post.
We are sorry that this post was not useful for you!
Let us improve this post!
Thanks for your feedback!