fiscal year


A 12-month period over which a company budgets its spending. A fiscal year does not always begin in January and end in December; it may run over any period of 12 months. The fiscal year is referred to by the date in which it ends. For example, if a company's fiscal year ends October 31, 2006, then everything between November 1, 2005 and October 31, 2006 would be referred to as FY 2006. Not using the actual calendar year gives many companies an advantage, allowing them to close their books at a time which is most convenient for them.

Use fiscal year in a sentence

It was the beginning of the fiscal year and things were looking to be a whole lot different for everyone this time around.

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During this fiscal year, the company's earnings have far exceeded what we had made during the past company's fiscal years.

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This fiscal year was a very profitable one for the company. The management are very please with the outcome of this past fiscal year

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