- any yearly period without regard to the calendar year, at the end of which a firm, government, etc., determines its financial condition.
noun US and Canadian
- any annual period at the end of which a firm’s accounts are made up
- the annual period ending April 5, over which Budget estimates are made by the British Government and which functions as the income-tax year
A twelve-month period for which an organization, such as a government or corporation, plans the use of its funds. Commonly, fiscal years run from July 1 to June 30, or, in the case of the U.S. government, from October 1 to September 30.