Fiscal Year - FY

AAA

DEFINITION of 'Fiscal Year - FY'

A period that a company or government uses for accounting purposes and preparing financial statements. The fiscal year may or may not be the same as a calendar year. For tax purposes, companies can choose to be calendar-year taxpayers or fiscal-year taxpayers. The default IRS system is based on the calendar year, so fiscal-year taxpayers have to make some adjustments to the deadlines for filing certain forms and making certain payments. In many instances, even fiscal year taxpayers must adhere to the calendar-year deadlines.

INVESTOPEDIA EXPLAINS 'Fiscal Year - FY'

The federal government's fiscal year begins on October 1 and ends on September 30. The fiscal year is denoted by the year in which it ends, so spending incurred on November 14, 2010, would belong to fiscal year 2011. Fiscal years are commonly referred to when discussing budgets and are often a convenient period to use when comparing a government's or company's financial performance over time.

RELATED TERMS
  1. Times Revenue Method

    A valuation method used to determine the maximum value of a company. ...
  2. SEC Form 18-12G

    A filing with the Securities and Exchange Commission (SEC), also ...
  3. SEC Form N-17f-2

    A filing with the Securities and Exchange Commission (SEC) that ...
  4. Balance Sheet

    A financial statement that summarizes a company's assets, liabilities ...
  5. Annual Report

    1. An annual publication that public corporations must provide ...
  6. Income Statement

    A financial statement that measures a company's financial performance ...
Related Articles
  1. Taxes

    What types of revenue are taxable?

    Learn about all the various types of taxable corporate revenue and how different revenues are designated and differentiated from one another.
  2. Taxes

    Are barter transactions taxable?

    Learn what a barter transaction is, how the IRS requires businesses to report barter exchanges and tax implications of barter transactions.
  3. Entrepreneurship

    New Year Planning For Business Owners

    Make a resolution to start your business off on the right foot in the new year.
  4. Brokers

    Top Tax Deductions For Brokers

    If you are paying out of pocket, you can make your business expenses work for you at tax time.
  5. Investing

    Why do companies postpone earnings announcements?

    During the course of a fiscal year, a company will report earnings on a total of four separate occasions: three quarterly statements filed as 10-Qs, and one annual report with Quarter 4 data ...
  6. Options & Futures

    Advanced Financial Statement Analysis

    Learn what it means to do your homework on a company's performance and reporting practices before investing.
  7. Markets

    Introduction To Fundamental Analysis

    Learn this easy-to-understand technique of analyzing a company's financial statements and reports.
  8. Fundamental Analysis

    What's a Prospectus?

    The Security and Exchange Commission (SEC) requires that any company raising money from potential investors through the sale of securities must file a prospectus with the SEC and then provide ...
  9. Fundamental Analysis

    What's a Tangible Asset?

    Tangible assets are property owned by a business that can be touched -- they physically exist. Examples include furniture and fixtures, computer hardware, delivery equipment, leasehold improvements ...
  10. Fundamental Analysis

    Cash Flow From Operating Activities

    Cash flow from operating activities is a section of the Statement of Cash Flows that is included in a company’s financial statements after the balance sheet and income statements.

You May Also Like

Hot Definitions
  1. Commercial Paper

    An unsecured, short-term debt instrument issued by a corporation, typically for the financing of accounts receivable, inventories ...
  2. Federal Funds Rate

    The interest rate at which a depository institution lends funds maintained at the Federal Reserve to another depository institution ...
  3. Fixed Asset

    A long-term tangible piece of property that a firm owns and uses in the production of its income and is not expected to be ...
  4. Break-Even Analysis

    An analysis to determine the point at which revenue received equals the costs associated with receiving the revenue. Break-even ...
  5. Key Performance Indicators - KPI

    A set of quantifiable measures that a company or industry uses to gauge or compare performance in terms of meeting their ...
  6. Bank Guarantee

    A guarantee from a lending institution ensuring that the liabilities of a debtor will be met. In other words, if the debtor ...
Trading Center