Financial Year
/ˈfaɪnænʃəl jɪər/
Definitions
- (n.) A fixed period used for accounting and legal purposes, usually spanning 12 months, during which financial statements and tax reporting are prepared.
The company's financial year ends on March 31.
Forms
- financial year
- financial years
Related terms
See also
Commentary
The term is often interchangeable with fiscal year, though some jurisdictions differentiate accounting and tax years.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.