Definitions for fiscal year
fis·cal year

Princeton's WordNetRate this definition:0.0 / 0 votes

1. fiscal year, financial yearnoun

   any accounting period of 12 months

WiktionaryRate this definition:0.0 / 0 votes

1. fiscal yearnoun

   An accounting period of one year, not necessarily coinciding with the calendar year.

WikipediaRate this definition:0.0 / 0 votes

1. Fiscal year

   A fiscal year (or financial year, or sometimes budget year) is used in government accounting, which varies between countries, and for budget purposes. It is also used for financial reporting by businesses and other organizations. Laws in many jurisdictions require company financial reports to be prepared and published on an annual basis but generally not the reporting period to align with the calendar year (1 January to 31 December). Taxation laws generally require accounting records to be maintained and taxes calculated on an annual basis, which usually corresponds to the fiscal year used for government purposes. The calculation of tax on an annual basis is especially relevant for direct taxes, such as income tax. Many annual government fees—such as council tax and license fees, are also levied on a fiscal year basis, but others are charged on an anniversary basis. Some companies, such as Cisco Systems, end their fiscal year on the same day of the week each year: the day that is closest to a particular date (for example, the Friday closest to 31 December). Under such a system, some fiscal years have 52 weeks and others 53 weeks.The calendar year is used as the fiscal year by about 65% of publicly-traded companies in the United States and for most large corporations in the United Kingdom. That is the case in many countries around the world with a few exceptions such as Australia, New Zealand, and Japan.Many universities have a fiscal year which ends during the summer to align the fiscal year with the academic year (and, in some cases involving public universities, with the state government's fiscal year) and also because the university is normally less busy during the summer months. In the Northern Hemisphere, that is July to the next June. In the Southern Hemisphere, that is the calendar year, January to December. Some media/communication-based organizations use a broadcast calendar as the basis for their fiscal year.

ChatGPTRate this definition:0.0 / 0 votes

1. fiscal year

   A fiscal year is a 12-month period used by governments and businesses for budgeting, financial reporting, and taxation purposes that may follow the calendar year, January through December, or may run on a different cycle depending on the country or business. It is not necessarily the same as the calendar year and its start and end dates may vary depending on the country's culture, laws, and business practices.

WikidataRate this definition:0.0 / 0 votes

1. Fiscal year

   A fiscal year is a period used for calculating annual financial statements in businesses and other organizations. In many jurisdictions, regulatory laws regarding accounting and taxation require such reports once per twelve months, but do not require that the period reported on constitutes a calendar year. Fiscal years vary between businesses and countries. The "fiscal year" may also refer to the year used for income tax reporting. Some companies choose to end their fiscal year on the same day of the week, such day being the one closest to a particular date. Under such a system, some fiscal years will have 52 weeks and others 53 weeks. Major corporations that adopt this approach include Cisco Systems. In the United Kingdom, a number of major corporations that were once government owned, such as BT Group and the National Grid, continue to use the government's financial year, which ends on the last day of March, as they have found no reason to change since privatisation. Nevertheless, the fiscal year is identical to the calendar year for about 65% of publicly traded companies in the United States and for a majority of large corporations in the UK and elsewhere.

Matched Categories

1. • Year

How to pronounce fiscal year?

1. Alex

   US English

   David

   US English

   Mark

   US English

   Daniel

   British

   Libby

   British

   Mia

   British

   Karen

   Australian

   Hayley

   Australian

   Natasha

   Australian

   Veena

   Indian

   Priya

   Indian

   Neerja

   Indian

   Zira

   US English

   Oliver

   British

   Wendy

   British

   Fred

   US English

   Tessa

   South African

How to say fiscal year in sign language?

Numerology

1. Chaldean Numerology

   The numerical value of fiscal year in Chaldean Numerology is: 1

2. Pythagorean Numerology

   The numerical value of fiscal year in Pythagorean Numerology is: 9

Examples of fiscal year in a Sentence

1. Texas Attorney General Ken Paxton:

   While Texans are compassionate to our core, and take in more refugees than any other state, significant security concerns have been raised about President Obama's plans to admit 10,000 Syrian refugees this fiscal year, nationwide, the federal government's stated inability to run effective background checks on these refugees, entering the United States from one of the world's most potent hotbeds of terrorism, puts all Texans at risk.

2. Eleni Demertzis:

   Even with the tax increase, this budget remains $2 billion out of balance for fiscal year 2018, the best thing we can do is to work collaboratively to pass truly balanced budgets that pay down our debt, reform our pension system, and make the changes necessary to drive economic growth in our state.

3. Mike Manazir:

   We have to buy something in (fiscal year) '16 for that line to extend, the challenge for me is that if the line shuts down ... I now run out of options, and I can't procure Growlers if the analysis says that we need more.

4. Tom Wolf:

   We still face enormous problems that this budget does not even pretend to address, let's be clear : the math in this budget does not work. Next fiscal year - that already has a $ 2 billion deficit - will now begin with an extra $ 300 million deficit.

5. Eric Kim:

   We always have some states that go into the new fiscal year without budgets, but the number is a bit high this year.

References

1. ^ Princeton's WordNet
   http://wordnetweb.princeton.edu/perl/webwn?s=fiscal year
2. ^ Wiktionary
   https://en.wiktionary.org/wiki/Fiscal_Year
3. ^ Wikipedia
   https://en.wikipedia.org/wiki/Fiscal_Year
4. ^ ChatGPT
   https://chat.openai.com
5. ^ Wikidata
   https://www.wikidata.org/w/index.php?search=fiscal year