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 does Semiannual mean?
Semi-Annual means occurring twice a year or occurring every six months. For example, if a meeting is called two times a year, with a gap of 6 months in between, we may call it as semi-annual meeting.
What is Semiannual?
- 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 are Semiannual 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 vs Biannual?
Semiannual and Bi-annual are both the same thing, they represent any event occurring twice a year or every six months.
Semiannual vs Biennial?
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.
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