fiscal year
fiscal year
fiscal year
fis′cal year′
n.
Noun | 1. | fiscal year - any accounting period of 12 months |
单词 | fiscal year | |||
释义 | fiscal yearfiscal yearfiscal yearfis′cal year′n.
fiscal year→ 会计年zhCNFiscal YearFiscal Yeara period of time used as a reference in accounting and in planning for enterprises and associations or for the national economy as a whole. Its duration is 12 months, but the date on which it begins may vary. In capitalist countries the fiscal year for industry coincides with the calendar year, but for agriculture the fiscal year is determined by the period of the agricultural year. In the USSR the fiscal year, as a rule, ran from October to September 30 during the period from September 1921 to September 1930. A decree of the Central Executive Committee of the USSR of Sept. 20, 1930, established the fiscal year for periods from January 1 to December 31. For animal husbandry in the USSR the fiscal year, beginning in 1953, ran from October 1 to September 30, but in 1957 the beginning of the fiscal year was again transferred to January 1 of the corresponding year. fiscal yearfiscal year (tax year)the year from 6 April until the following 5 April, named by the two calendar years that it spans, e.g. 2007/08 is the year starting on 6 April 2007 and ending on 5 April 2008.fiscal yearFiscal year (FY)Fiscal Year2. In the United Kingdom, the tax year. fiscal year (FY)fiscal yearthe government's accounting year which, in the UK, runs from 6 April to 5 April of the following year, and in the USA from 1 July to 30 June. The fiscal year is the basic period used by the government in assessing personal INCOME TAX and any income earned during the fiscal year is assessable to taxation at the income tax rates applicable for that fiscal year. Compare FINANCIAL YEAR.In the past the authorities have occasionally set ‘targets’ for fiscal policy, most notably ‘caps'on the size of the PUBLIC SECTOR BORROWING REQUIREMENT (PSBR). Recently, the government has accepted that fiscal stability is an important element in the fight against inflation. In 1997, the government set an inflation ‘target'of an increase in the RETAIL PRICE INDEX (RPIX) of no more than 21/2 % per annum and ceded powers to a newly-established MONETARY POLICY COMMITTEE to set official interest rates. In doing this the government explicitly recognised that a low inflation economy was essential in order to achieve another of its priorities – low UNEMPLOYMENT. To this end, fiscal ‘prudence’, specifically a current budget deficit (PSBR) within the European Union's MAASTRICHT TREATY limits of no more than 3% of GDP (and an outstanding total debt limit of 60% of GDP) was endorsed as a necessary adjunct to avoid excessive monetary creation of the kind which had fuelled previous runaway inflations. See BUDGET (GOVERNMENT) entry for further discussion. See MONETARISM, MONETARY POLICY, BUSINESS CYCLE. fiscal yearthe government's accounting year, which, in the UK, runs from 6 April to 5 April the following year. Different countries frequently have a fiscal year different from the normal calendar year. In the USA, the fiscal year runs up to 30 June. See BUDGET ( GOVERNMENT).fiscal yearAccounting year. Many companies use accounting years ending on June 30 or September 30, rather than the calendar year ending on December 31. Fiscal YearSee F/Y fiscal year
Synonyms for fiscal year
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