Period allows the document to have an association with either a point in time i.e. a date when a legal document is signed or a fromTo duration i.e. a financial report that runs from 1 July to 30 June.
Time frames with duration i.e. Financial Year, as below, allows precise attachment of reports that have a duration relationship i.e. set of financial statements, profit loss report, trial balance report or general ledger report amongst others.
Documents may have an Instant relationship i.e. a relationship with a point in time. Such documents will include legal documents with dates signed and balance sheets with as at time point associations. Regulatory notices should be referenced primarily by duration where the notice is specific to a particular duration but should be referenced by instant where the notice is not specifically related to duration.
Duration, since the notice will relate specifically to a from to date rage.
Financial Time Frame association, could potentially refer to a concept or requirement related to financial reporting or taxation.
The Timeframe Association allows a relationship to be created between
- Financial year timeframe
- Specific range within the year, either month, year or quarter
