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Fiscal years are used by governments, businesses, and other organizations to track their financial performance. The fiscal year (FY) is a 12-month period that does not necessarily align with the calendar year.
Fiscal years are typically established to align with the organization’s business cycle or reporting requirements. For example, many businesses have fiscal years that end on March 31st or June 30th, which coincides with the end of their busiest quarters.
Fiscal year 2025 will begin on October 1, 2025, and end on September 30, 2025. This is based on the federal fiscal year, which is used by the United States government and many other organizations.
Fiscal years play a crucial role in financial planning and reporting. They provide a standardized timeframe for tracking revenues, expenses, and other financial data. This information is used to:
While fiscal years are typically 12 months long, they do not always align with the calendar year. The calendar year runs from January 1st to December 31st, while fiscal years can start and end on any date.
Fiscal years are an important tool for financial planning and reporting. They provide a standardized timeframe for tracking financial performance and aligning with business cycles. Understanding when fiscal year 2025 begins and ends is crucial for organizations to ensure accurate financial reporting and planning.
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