Forum Discussion
NikkeiSimmer
5 years agoLegend
@M1ss_Plumbum,
Fiscal year is based on your business start date. So if your company opened its doors in April 1st of 2017. Your fiscal year would end March 31st, 2018. Normally referred to as FY2017-2018 in that case. And each FY has four quarters comprising three months each. In this example would be Apr-Jun 2017 FY 1st Quarter, Jul-Sep 2017 FY 2 Quarter; Oct-Dec FY 3 Quarter; jan-Mar FY End 4th Quarter.
It’s confusing if you’re a) not in business for yourself or b) not an accountant or c) not a university business major.
Fiscal year is based on your business start date. So if your company opened its doors in April 1st of 2017. Your fiscal year would end March 31st, 2018. Normally referred to as FY2017-2018 in that case. And each FY has four quarters comprising three months each. In this example would be Apr-Jun 2017 FY 1st Quarter, Jul-Sep 2017 FY 2 Quarter; Oct-Dec FY 3 Quarter; jan-Mar FY End 4th Quarter.
It’s confusing if you’re a) not in business for yourself or b) not an accountant or c) not a university business major.