Fiscal Year


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Fiscal Year

 

a period of time used as a reference in accounting and in planning for enterprises and associations or for the national economy as a whole. Its duration is 12 months, but the date on which it begins may vary.

In capitalist countries the fiscal year for industry coincides with the calendar year, but for agriculture the fiscal year is determined by the period of the agricultural year. In the USSR the fiscal year, as a rule, ran from October to September 30 during the period from September 1921 to September 1930. A decree of the Central Executive Committee of the USSR of Sept. 20, 1930, established the fiscal year for periods from January 1 to December 31. For animal husbandry in the USSR the fiscal year, beginning in 1953, ran from October 1 to September 30, but in 1957 the beginning of the fiscal year was again transferred to January 1 of the corresponding year.

References in periodicals archive ?
GAAP net income available to common shareholders was $11.8 million for fiscal year 2019, or $0.38 per diluted share, compared to net loss of ($2.7) million, or ($0.09) per diluted share for fiscal year 2018.
The factory automation systems business saw decreases in both orders and sales from the same period of the previous fiscal year due primarily to a temporary slowdown in capital expenditures in the fields of organic light emitting diodes (OLED) and smartphones outside Japan, despite buoyant demand for exports mainly by machinery and semiconductor-related equipment manufacturers in Japan.
In the 2017-18 fiscal year, foreign direct investment (FDI) inflows reached US$3.43 billion, with an outflow of US$670 million and a net inflow of US$2.76 billion, up 0.8% year-on-year, achieving a third consecutive fiscal year growth.
Total allocation for the federal ministries is estimated at Rs372.2 billion against original allocation of Rs450.3 billion in the outgoing fiscal year. This allocation is about 53% of the total proposed PSDP.
Sales of new vehicle registrations experienced a year-on-year decrease for the second consecutive year (since Fiscal Year 2018).
Annual non-GAAP net income for fiscal year 2018 was $791 million, or $5.65 per diluted share, compared to $744 million, or $4.85 per diluted share for fiscal year 2017.
In an obligation-based budget, inspection, verification and payment can be done even after the fiscal year; the government has a running balance of due-and-demandable accounts payables.
However, the foreign loans to be obtained by Punjab in the upcoming fiscal year are projected to be Rs62.99bn, Sindh Rs39.90bn, Khyber Pakhtunkhwa Rs30.45bn and Balochistan Rs4.07bn.
Out of Rs1.03 trillion, the share of Planning Ministry-administrated PSDP will be Rs825 billion, down from outgoing fiscal year's level of Rs866 billion.
The country's shrimp output was 12,698 tons in the fiscal year to March 2016.
Kyaw Win did not offer an explanation for the disappointing growth figures through the first six months of the current fiscal year.
Optical Cable Corporation (Nasdaq GM: OCC) has achieved increases in net sales, gross profit and net income when compared to both third quarter of fiscal year 2016 and fourth quarter of fiscal year 2015, the company said.

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