Discussion in 'General Discussion' started by anjanesh, May 24, 2006.
This may sound real stupid, but what is FY2005 or FY2006 ?
FY = Fiscal Year
Thanks. Are all Fiscal Years from Jan for Dec ? If not, how will I know if they just mention FY2006 ?
It's usually different depending on what company you are talking about.
What is it in relation to?
Yep, depends on the company.
As far as the government is concerned, for individuals, the fiscal year is Jan. 1 to Dec. 31 and a lot of small corporations opt for those dates as well, just to make it easier I think to get all the tax work, etc. done at the same time. But when you incorporate, you have the option of deciding on a fiscal year that isn't based strictly on the typical calendar year. Lots of retailers in particular choose a fiscal period based on something other than year-end, if they expect to make a lot of holiday sales in December and will be facing returns from customers in January - makes it more complicated for accounting purposes.
And for a lot of companies, I think they just find it easier to not have to do a lot of accounting paperwork based on December when a lot of employees are out on vacation or holiday time.
Correct, I had join several companies, none of them do it on December.
Separate names with a comma.