Moffitt Cancer Center David W. Larson, MD, MBAÂ¶ Mayo Clinic Cancer Center Audrey J. Lazenby, MD â  Fred & Pamela Buffett Cancer Center Patrick M. Lynch, MD, JD Â¤ The University of Texas MD Anderson Cancer Center Robert J. Mayer, MD â  Ã Dana-Farber/Brigham and Womenâs Cancer Center Reid M. Ness, MD, MPH Â¤ Vanderbilt-Ingram Cancer Center M. Sambasiva Rao, MD â  Â¤ Robert H. Lurie Comprehensive Cancer Center of Northwestern University
Loading the player... A fiscal year (FY) is a period that a company or government uses for accounting purposes and preparing financial statements. A fiscal year may not be the same as a calendar year, and for tax purposes, the Internal Revenue Service (IRS) allows companies to be either calendar-year taxpayers or fiscal-year taxpayers.
The federal government's fiscal year begins on October 1 and ends on September 30. The fiscal year is denoted by the year in which it ends, so spending incurred on November 14, 2010, would belong to fiscal year 2011. Fiscal years are commonly referred to when discussing budgets and are often a convenient period to use when comparing a government's or company's financial performance over time.