Fiscal Year

A fiscal year, or FY, is a company’s annual accounting period used for financial reporting. A fiscal year can be either 12 consecutive months ending on the last day of a month other than December or a 52- or 53-week period.

For many companies, the annual accounting period coincides with the calendar year, but some companies choose a different fiscal year period based on their revenue cycle. For example, the fiscal year for many retailers ends in January, after the holiday season. The U.S. government’s fiscal year ends in September.

Fiscal years are identified by their end date. For example, the U.S. government’s FY 2022 refers to the period from Oct. 1, 2021, to Sept. 30, 2022.