*AKA* –>
‘financial year’
‘budget year’
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(a fiscal year is the ‘period’ used by ‘governments’ for ‘accounting’ + ‘budget’ purposes)
(which vary between ‘countries’)
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(it is also used for ‘financial reporting’ by ‘business’ + other ‘organizations’)
(‘laws’ in many ‘jurisdictions require ‘company financial reports’ to be ‘prepared’ + ‘published’ on a generally annual basis, but generally do not require that the reporting period be calendar year ‘january 1st’ – ‘december 31st’)
(‘taxation laws’ generally require ‘accounting records’ to be maintained + taxes calculated on an ‘annual basis’, which usually corresponds to the ‘fiscal year’ used for ‘government purposes’)
(the calculation of ‘tax’ on an annual basis is especially relevant for ‘direct taxation’)
(such as ‘income tax’)
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(many ‘annual government fees’ — such as ‘council rates’ / ‘licence fees’ / etc—are also levied on a ‘fiscal year basis’, while others are charged on an ‘anniversary basis’)
(the ‘fiscal year end’ (FYE) is the date that marks the end of the ‘fiscal year’)
(some companies—such as ‘cisco systems‘—end their ‘fiscal year’ on the same day of the week each year)
(eg “the day that is closest to a particular date”)
(for example, “the friday closest to “december 31st”)
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(under such a system, some ‘fiscal years’ will have ’52 weeks’ + others ’53 weeks’)
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(the ‘calendar year’ is used as the ‘fiscal year’ by about 65% of publicly traded companies in the ‘united states’ + for a majority of large corporations in the UK + elsewhere…)
(…with notable exceptions being in ‘australia’ / ‘new zealand’ / ‘japan’)
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(many universities have a ‘fiscal year’ which ends during the ‘summer’, to…)
*align the ‘fiscal year’ with the ‘academic year’*
(and, in some cases involving ‘public universities’, with the state government’s ‘fiscal year’)
(…because the school is normally less busy during the ‘summer months’)
(in the ‘northern hemisphere’, this is ‘july’ to the next ‘june’)
(in the ‘southern hemisphere’, this is calendar year january – december)
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(some ‘media/communication based organizations’ use a ‘broadcast calendar’ as the basis for their ‘fiscal year’)
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(the american football league NFL uses the term ‘league year’, which in effect forms the league’s ‘fiscal year’)
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(the ‘fiscal year’ is usually denoted by the year in which it ends, so ;united states of america’ federal government spending incurred on “14 november 2017” would belong to ‘fiscal year 2018’, operating on a ‘fiscal calendar’ of ‘october’ – ‘september’)
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💕💝💖💓🖤💙🖤💙🖤💙🖤❤️💚💛🧡❣️💞💔💘❣️🧡💛💚❤️🖤💜🖤💙🖤💙🖤💗💖💝💘
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*🌈✨ *TABLE OF CONTENTS* ✨🌷*
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🔥🔥🔥🔥🔥🔥*we won the war* 🔥🔥🔥🔥🔥🔥