The Definition of Fiscal Year: How to Determine a Fiscal Year

Written by MasterClass

Last updated: Aug 13, 2021 • 3 min read

The fiscal year covers a 12-month period over which a business does its accounting, which may or may not align with the tax year. Companies use fiscal years for their budget process, for tax filing, and for other accounting purposes. Read on to learn more about how companies determine their fiscal years.