Fiscal Year

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The following article is from The Great Soviet Encyclopedia (1979). It might be outdated or ideologically biased.

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.

The Great Soviet Encyclopedia, 3rd Edition (1970-1979). © 2010 The Gale Group, Inc. All rights reserved.
References in periodicals archive ?
Total volume in fiscal 1999 advanced 6.1% after adjusting for the change in Kroger's fiscal calendar to a late-January year and for the 53rd week of sales in 1998, as well as excluding volume from divested stores.
"The second and third quarters - which include the peak summer selling season - have tended to drive our results for the year." Coors originally reported net income of $92,000 in the first quarter of 1995, but the numbers were revised to be comparable with the new fiscal calendar the company adopted for 1996.
CINCINNATI -- Although precise comparisons cannot be drawn, due to a change in its fiscal calendar, Kroger Co.
(**) Total sales in fiscal 1999 grew 6.1% after adjusting for the change in Kroger's fiscal calendar and for the 53rd week of sales in 1998, as well as excluding volume from divested stores.
Adjusting for the change in Kroger's fiscal calendar and excluding sales from divested outlets, total sales for the 12 weeks improved approximately 6.2% to $10.3 billion.
The fiscal 1998 estimate includes the actual results of Fred Meyer before merger costs and an estimate of Kroger's pre-merger results, exclusive of onetime costs, to reflect the change to the new fiscal calendar.