Business enterprises may opt to use a financial year that ends at the end of a week (e.g., 52 or 53 weeks in length, and therefore is not exactly one calendar year in length), or opt for its financial year to end on a date that matches the reporting cycle of its foreign parent.
Businesses can choose to utilize a fiscal year that aligns with either a weekly schedule (e.g., 52 or 53 weeks) or a date matching the reporting cycle of its foreign parent company.