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.
Part of the Business terms glossary: A fiscal year is the twelve-month period that an organization uses for budgeting, forecasting and reporting. Although many organizations follow the calendar year, a fiscal year can start at any point in the year and end 12 months later. The fiscal year of the United States government, for example, runs from October 1 to September 30. Fiscal years are identified according to the year in which they end. Usually a fiscal year begins on the first day of the beginning month and ends on the last day of the 12 th month. However, some companies choose to have fiscal years that comprise only full weeks and end on a particular day of the week.