Fiscal Year

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Related to Fiscal Year: fiscal policy

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 ?
One of the most important contributions we intend to make in fiscal year 2005 is in the area of human trafficking.
We are also making progress in efforts to provide new facilities that are fully secure, with thirteen major capital projects in design or construction, another eight expected to begin this fiscal year, and nine more in fiscal year 2003.
Because the law does not require individuals to maintain books and records, it may be difficult to demonstrate that the books have been maintained for the fiscal year.
The President's fiscal year 2002 budget marks the beginning of a new strategic orientation for U.
Eventually there will be a tax bill the President will sign, and fiscal year reform will most likely be a part of it.

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