Definition:
A company's Fiscal Year is its financial year; it is any twelve-month period that the company uses for accounting purposes. The fiscal year is expressed by stating the year-end date. A fiscal year end can be the end of any quarter - March 31, June 30, September 30, or December 31.
To confuse the issue, the IRS says a fiscal year is "12 consecutive months ending on the last day of any month except December 31st." The IRS distinguishes "fiscal year" from "tax year," stating that a tax year can be either fiscal year or the calendar year.
Examples:
The company operates on a June 30 fiscal year.
