Fiscal Year

A fiscal year is a 12-month period used by organizations and governments to track financial performance and plan budgets, which may differ from the calendar year (January to December). For example, a fiscal year might run from October 1 to September 30. This time frame helps organizations assess their financial health, prepare financial statements, and make strategic decisions. The specific start and end dates can vary depending on the organization's preference or regulatory requirements. Overall, it provides a consistent period for financial planning and reporting separate from the calendar year.