Forum Discussion
5 years ago
"Nikkei_Simmer;c-17401665" wrote:
@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.
Not necessarily - many start-ups conform to the December 31st year-end (except in a few countries). Certainly, not all businesses started on January 1st (which would be a terrible time for many companies to open their doors, at least in the US and Europe).