Accounting period cycles are the specific periods of time that a business uses to measure and report on their financial performance. During this reporting cycle, all financial activities need to be recorded in order for the company to make informed decisions about their future. It is important to understand the different stages of an accounting period cycle, as each one carries different responsibilities for the business. The cycle typically involves: collecting data, processing information, preparing financial reports, submitting financial statements, and analyzing performance. By understanding and utilizing the accounting period cycle, businesses can ensure they are staying on top of their finances and making smart decisions towards achieving success.