What is the possible reason for changing the accounting period?
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An organization can alter its accounting period by submitting a return for the short tax period. A "short tax period" denotes an accounting duration of less than 12 months and typically occurs when the organization starts operations, modifications to the accounting period, or the conclusion of an organization.

For instance, Assuming that 'Company ABC' initially follows a calendar year accounting period when it was established. However, in Year 3, the company opts to transition to a fiscal year ending on September 30. This modification of the accounting period can be accomplished by submitting a short tax period return, covering the span from January 1 to September 30 of Year 3. It is important to mention the Year 3 return with 'Change in Accounting Period.'