Financial Year Vs Fiscal Year

by admin

Whether you operate a consumer retail business or are a sole proprietor, you must understand the differences between a fiscal year and a calendar year. Understanding the difference will help you make the best financial decisions for your business.

A fiscal year is the period of time used for financial reporting and budgeting. It covers a 12-month period and ends on the last day of a month. The year’s end may be in January, February or any other month, depending on the nature of your business.

You may also like

Leave a Comment