Vote in favour to split period of financial reporting? (4-3)
I believe the answer is:
year-end
'period of financial reporting?' is the definition.
'vote in favour to split' is the wordplay.
'vote in favour' becomes 'yea' (an affirmative vote, as in 'yea or nay').
'to split' becomes 'rend' (I've seen this in other clues).
'yea'+'rend'='YEAR-END'
(Other definitions for year-end that I've seen before include "Last part of (financial) year" , "Deanery (anag.)" , "Books prepared now" , "Last day of a twelve month period" .)