We know that leap year occurs once every 4 years. For some firms, accounting the extra day can have its own positive and negative impact. There are few companies that allocate budget on a day to day basis. For them, the extra day can become an issue. For some financial companies, it works well as it generates an extra day of revenue.
When it comes to reporting, we find inconsistency in comparison values involving a Leap year. We don’t realize it in the beginning. When we do some investigation with the data, we find the leap.
In this blog, we will discuss 3 very simple methods to identify if a year is a Leap year.