financial year

(redirected from financial years)
Also found in: Dictionary, Thesaurus, Medical, Legal, Encyclopedia.
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.
Mentioned in ?
References in periodicals archive ?
Heidelberg plans to increase its result of operating activities to around 10 percent of sales during the current financial year.
The scheduled publication date for the accounts for the first nine months of financial year 2006/2007 is January 31, 2007.
A number of new ranges were successfully trialed with both existing and new customers, the full benefits of which will be seen in the second half of this year and the next financial year.
Our expectations are for considerable improvement in performance during the last quarter of this financial year.
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.
CINAR Corporation today said that, as a result of the reviews undertaken by the Company and its Audit Committee and discussions with its auditors, it appears likely its audited financial statements for the financial years ended November 30, 1997 and 1998 will need to be restated.
Pre Qualificationa) The tenderer should have completed in the last three financial years (i.

Full browser ?