Definitions for financial year
fi·nan·cial year

Princeton's WordNetRate this definition:0.0 / 0 votes

1. fiscal year, financial yearnoun

   any accounting period of 12 months

WikipediaRate this definition:0.0 / 0 votes

1. financial 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.

Matched Categories

1. • Year

How to pronounce financial 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 financial year in sign language?

Numerology

1. Chaldean Numerology

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

2. Pythagorean Numerology

   The numerical value of financial year in Pythagorean Numerology is: 1

Examples of financial year in a Sentence

1. Chief Financial Officer Paul Venables:

   We had a really good underlying cash performance and that means that we expect to be cash positive next year, we expect to be in token special dividend territory next financial year.

2. Kiran Mazumdar-Shaw:

   We forecast that by financial year 2019 our revenues will be $1 billion with 25 percent coming from research and 75 percent from rest of our business.

3. Chief Financial Officer Hiroki Totoki:

   Concerns about trade-related issues remain for the second half (of the financial year).

4. Brian Molefe:

   In addition, the Treasury has made a commitment to give Eskom about 23 billion (rand) which I believe will be given in two tranches during this financial year, we do not think that Eskom is about to be declared bankrupt or insolvent.

5. Kazuo Sato:

   We think Japanese companies are recovering their ability to grow. Last financial year we sold 130 billion yen of Japanese shares, but this year we are not in a phase to sell.

References

1. ^ Princeton's WordNet
   http://wordnetweb.princeton.edu/perl/webwn?s=financial year
2. ^ Wikipedia
   https://en.wikipedia.org/wiki/Financial_Year