Accounting terms

Dictionary of all accounting terms

What is a Fiscal Year?

A fiscal year is a period of time that a company and the government use for financial accounting and for preparation of financial statements.

1 Fiscal year has 12 consecutive months.

Key Note - A fiscal year may not always be the same as a calendar year!

The term "fiscal year" is typically used when discussing the annual budget of the business, and when assessing the financial performance of a company.

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