financial year

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Related to financial years: Fiscal Year End

Fiscal Year

1. A calendar businesses use to calculate revenue and expenses. Most businesses also use their fiscal year as the period their annual budgets operate. Most jurisdictions require businesses to issue financial statements each year but often do not specify when they must do so. Thus, fiscal years vary by business and jurisdiction. They tend to begin in the middle of the calendar year, particularly in retail, as the end of the calendar year is an exceptionally busy time. The U.S. Government's fiscal year starts on October 1. In nomenclature, if a fiscal year covers more than one calendar year it is designated by the calendar year in which it ends; for example, the U.S. government's fiscal year from October 1, 2008 to September 30, 2009 is called "FY 09."

2. In the United Kingdom, the tax year.

financial year

the period from 1 April to 31 March of the following year used for CORPORATION TAX purposes. Compare FISCAL YEAR.
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On 21 October 2015 at its meeting the Board of Directors took on record the said order and confirmed the change in financial year of the Company.
Expenses for the financial year increased to $9,895,377 from $7,927,697 in the 2006 financial year, which represents a 25% increase.
HEIDELBERG, Germany -- For the first six months of financial year 2006/2007 (April 1 to September 30, 2006), Heidelberger Druckmaschinen AG (Heidelberg) (FWB: HDD) increased its sales and earnings over the previous year.
The 27 percent rise in car sales in the first half of financial year 04 has helped maintain a positive overall growth rate.
Total contractual amount received during the last three financial years and in the current financial year, should be a minimum of 150 percent of advertised tender value as per audited balance sheet duly certified by the chartered accountant.
Ii total contract amount received by the tenderer during the last three financial years or an audited balance sheet duly certified by the chartered accountant.
The Group performed strongly in the first six months of the financial year, producing excellent results both in terms of profitability and cashflow.
Best expects a significant reduction in free reserves (between 25%-30%) for the current financial year to February 2003, renewing pressure on the risk-adjusted level.

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