Meaning & use
the fiscal year
Last updated
Meaning
nouncountablebusinessfinance
A period of twelve months used by a business or government for accounting and budgeting, which may not start in January.
Grammar: Countable: you can say 'a fiscal year' or 'the fiscal year'. Often followed by 'ending' plus a date.
Patterns
- the fiscal year ending + date
- in the fiscal year
- for the fiscal year
The company reported strong profits in the fiscal year ending March 31.
Many governments start their fiscal year in April, not January.
We need to prepare the budget for the next fiscal year.
Word forms
| plural | fiscal years |
|---|
Common combinations
- fiscal year ending
- The fiscal year ending December 31 showed a small loss.
- the current fiscal year
- Spending is higher than expected in the current fiscal year.
- fiscal year budget
- The fiscal year budget was approved by the board.
- end of the fiscal year
- At the end of the fiscal year, we review all accounts.
Synonyms and how they differ
- financial year
- Common in British English; 'fiscal year' is more common in American English and official contexts.
- accounting period
- A broader term that can be any length, not necessarily twelve months.
Word family
- fiscal adjective
- Relating to government money, taxes, or financial matters.
Commonly confused: the fiscal year or calendar year?
the fiscal year vs calendar year
A calendar year always starts on January 1, while a fiscal year can start on any date.
Practice
The company's fiscal year runs from July 1 to June 30. When does the fiscal year end?
Choose one answer.
The fiscal year ends on the last day of the twelve-month period, which is June 30. December 31 is the end of the calendar year, not this fiscal year.
Make it your own
Write a sentence using “the fiscal year”, then check it and compare it with the examples above.