what is a financial yr? Im new to this and never heard of this word, can you plz explain to me in a simple term i can understand? i heard on the tv something about the end of financil yr and 30 June or something like that? What does it mean?
a fiscal year is to calculate yearly financial statements...it can start any day depending on the business and it ends in 1 year.. usually theres 4 quarters/periods .. 3 months each your best at reading your finance accounting textbooks or google
A financial year starts from the 1st April till the 31st March the next year. For example, this financial year at the moment starts from the 1st April 2009 and it will end on the 31st March 2010.
Since there was a mention of June 30th, the fiscal year sounds like it's from July 1st to June 30th; this is the case for the State of CA. This date may vary in different businesses. For example, on the news the State of CA will talk of the fiscal year when discussing the budget and how CA has to balance. June 30th will be the closing of the books and July 1st will be the beginning where they may receive new or continuous funding. It will be best to google your question if you want specific answers.
i thought it was to do with the paper owkr etc.. when u close acct.. calculate profits etc for the year. the financial year here is considered 1st july to 30th june the next year.
its a year, 12 months... doesnt start like your normal calendar months.. start follow the company when the company is incorporated.. 12 months after that is the end of its financial year
financial year what you mean calculate yearly statement? is it like what you get from the profit or loss? i thought they calculate that every day, lol. But what does this calculation have to do with tax and stuff? i heard that's when price go up? or go down?
in the uk its from 1st April to 31st March i've only used it to deal with taxes but im not really a businessman lol
don't worry! i THINK i get it now: financial year not only is the calulation of profit and loss, it is also the time when you have to pay tax. And because lots of ppl pays tax, they wants to saves up money (therefore buy less expenses) so most financial markets have discounts to encourage ppl to spend more.
