What is a fiscal year-end?

Fiscal year-end refers to the completion of a one-year, or 12-month, accounting period. If a company has a fiscal year-end that is the same as the calendar year-end, it means that the fiscal year ends on Dec. 31. Companies can choose the best fiscal year-end for themselves, designed with the needs of the company in mind.

What is fiscal year end?

Fiscal year-end refers to the last weeks or days of a company's fiscal year (FY), which is a 12-month period that companies use for accounting purposes. The three ways to chart annual financial progress in accounting are calendar, tax and fiscal years.

Does a fiscal year end on December 31?

A fiscal year consists of 12 months or 52 weeks and might not end on December 31. A period that is set from January 1 to December 31 is called a calendar year. Here is an example of the difference between a calendar year end and a fiscal year end: A Fiscal Year (FY) does not necessarily follow the calendar year.