Fiscal Year (Noun)
Meaning
Any accounting period of 12 months.
Classification
Nouns denoting time and temporal relations.
Examples
- The company's fiscal year begins on January 1 and ends on December 31 of each year.
- Their fiscal year was affected by the global economic downturn that started in the previous quarter.
- Our organization operates on a fiscal year that starts in July and ends in June the following year.
- To avoid any financial confusion, we close our books at the end of every fiscal year.
- A typical fiscal year is composed of four quarters, with each quarter consisting of three months.