fiscal year
0 antonyms and opposites of fiscal year, grouped by meaning.
Noun — A twelve-month period that an organisation or government uses for accounting, budgeting and tax reporting, which need not begin in January.
How to use fiscal year
The word patterns that sound natural to a native speaker.
Neutral business and government vocabulary. Fiscal year is the usual American term; financial year is more common in British and Australian use.
Etymology
Fiscal comes from Latin fiscalis 'of the state treasury', from fiscus, originally a basket or purse and later the public purse.
Full origin of fiscal year →Frequently asked questions
What is the difference between a fiscal year and a calendar year?
A calendar year always runs from 1 January to 31 December. A fiscal year is any twelve-month accounting period, and organisations often choose one that ends after their busiest season so the books close at a quiet time.
When does the fiscal year start?
It depends on the organisation and country. The US federal government's fiscal year begins on 1 October, the UK government's on 1 April, and companies may pick almost any start date that suits their trading cycle.
Is a fiscal year the same as a tax year?
They overlap but are not identical. A tax year is the period the tax authority uses to assess liability, which for individuals is usually fixed by law, while a business's fiscal year is the reporting period it has chosen.