Financial Year (Noun)
Meaning
Any accounting period of 12 months.
Classification
Nouns denoting time and temporal relations.
Examples
- The company's financial year begins on July 1 and ends on June 30 of the following year.
- Our financial year just ended and the accountants are now working on the annual financial statements.
- She decided to switch to a new financial year to avoid coinciding with her holiday schedule.
- Every business has a different start and end date for their financial year depending on the country or region they are operating in.
- Last year was our worst financial year ever and the new strategy will be designed to change this outcome this financial year.