fiscal year
Fiscal year (noun) means a twelve-month period that an organisation or government uses for accounting, budgeting and tax reporting, which need not begin in January. Example: “Our fiscal year runs from 1 October to 30 September.”
How to use fiscal year
Learner’s notesIn plain EnglishThe twelve months a business or government counts its money by.
Neutral business and government vocabulary. Fiscal year is the usual American term; financial year is more common in British and Australian use.
A fiscal year is normally named after the calendar year it ends in, so a year running from July 2025 to June 2026 is FY2026.
Trace the full origin ↓Fill the gap
Can you complete this real example?
Our _____ runs from 1 October to 30 September.
Etymology
Fiscal comes from Latin fiscalis 'of the state treasury', from fiscus, originally a basket or purse and later the public purse.
Synonyms
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Rhymes for fiscal year
See all rhymes for 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.
What is the meaning of fiscal year?
"fiscal year" (noun) means a twelve-month period that an organisation or government uses for accounting, budgeting and tax reporting, which need not begin in January.