A Fiscal Year (FY) is a period of time that is used by a government for accounting purposes and preparing financial statements.
Reference Definition by Investopedia: A Fiscal Year (FY) is a period that a company or government uses for accounting purposes and preparing financial statements. A fiscal year may not be the same as a calendar year, and for tax purposes, the Internal Revenue Service (IRS) allows companies to be either calendar-year taxpayers or fiscal-year taxpayers. Fiscal years are commonly referred to when discussing budgets and are often a convenient period to reference when comparing a government’s or company’s financial performance over time.
Related Definitions in the Project: The Commercial Definitions
