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Accounting & Tax vocabulary · Reporting Standards

Fiscal year

Meaning in accounting & tax, with examples

nounCore term

In accounting & tax, fiscal year means: The twelve-month period a company or government uses for accounting and tax purposes. It may match the calendar year or end in another month.

In Turkish: hesap dönemi, mali yıl, faaliyet yılı

How it is used

Fiscal year is mainly American; British English prefers financial year. It is written as FY2026 or FY26. Many foreign groups end their year in March or June.

Example sentences

  1. Our fiscal year ends on 31 March, so the budget process starts in January.

  2. Sales in fiscal year 2026 were above target.

Common collocations

  • fiscal year end
  • financial year
  • FY results
  • previous fiscal year
  • annual reportA document a company publishes each year containing its audited financial statements and a review of its business, strategy, risks and governance.
  • budgetA financial plan that sets out expected income and spending for a future period, usually a year, and is used to control costs and compare actual results.
  • month-end closeThe set of tasks accountants complete after each month ends, such as posting accruals and reconciling accounts, so that the month's results are final.
  • tax returnAn official form a taxpayer submits to the tax authority, reporting income, expenses or sales for a period and calculating the tax due.

This word in other fields

The same English word can have a different meaning in another field:

More terms: Reporting Standards

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This page explains English vocabulary for learners. It is not financial advice.