We report on analysis of V and I CCD photometry of Nova V1974 Cygni fr
om the observational seasons 1993 and 1994. The analysis gives evidenc
e that only one short-term modulation with period 0.0813 days was obvi
ously present in the 1993 I light curve of the nova. On the other hand
the analysis shows that two short-term modulations with periods 0.081
3 and 0.085 days (whose values are close to 2-day aliases of one anoth
er) are present in the 1994 V and I light curves of Nova V1974 Cygni.
The 0.0813-day period is stable and we interpret it as the orbital per
iod of the system, while the 0.085-day period is decreasing and may be
the spin period of the white dwarf component of the system.