fiscal year

noun

Definition of fiscal year

: an accounting period of 12 months

Examples of fiscal year in a Sentence

Sales were up in the last fiscal year. Our fiscal year runs from October 1 to September 30.

Recent Examples on the Web

New York City paid out $1 billion in tort and legal settlements during fiscal year 2018, a nearly 8% decline from the previous year. — Kate King, WSJ, "New York City’s Legal Payouts Dropped 8% in Fiscal 2018," 15 Apr. 2019 Assaults on staff in the Stillwater prison more than doubled in fiscal year 2018. — Amy Forliti, Fox News, "Minnesota inmate accused in guard's death has violent past," 19 July 2018 The county’s Behavioral Health Services Department tallied 445 72-hour stays and 136 14-day intensive treatment sessions at Tri-City’s locked behavioral health unit during the 2016-2017 fiscal year. — Paul Sisson, sandiegouniontribune.com, "North County leaders say they fear impact of Tri-City psych unit closures," 4 July 2018 Sacramento County and its cities together are set to receive an estimated $39 million for fiscal year 2018-19. — Tony Bizjak, sacbee, "Here's what your gas tax hike will fund in the Sacramento area - if voters don't repeal," 12 June 2018 In fiscal year 2017, the U.S. approved 559,536 foreigners for legal permanent residence (known as a green card), a 9% drop from the previous year. — Alan Gomez, USA TODAY, "All the ways President Trump is cutting legal immigration," 12 June 2018 In fiscal year 2017, about 25,000 people were apprehended in Border Patrol’s El Paso sector, down from 122,000-plus in fiscal year 2006. — Will Weissert, The Seattle Times, "El Paso bristles at Trump’s claim that wall made city safe," 11 Feb. 2019 An analysis from Syracuse University found 79 percent of asylum claims from El Salvador were denied during fiscal years 2012-2017. — Elvia Malagon, chicagotribune.com, "Central American mother, children from migrant caravan seeking refuge in Chicago," 12 June 2018 In early April, the board appealed to Illinois Comptroller Susana Mendoza’s office to divert a delinquent $863,677 the city owed for fiscal years 2016-17. — Yadira Sanchez Olson, Lake County News-Sun, "No layoffs, but underfunded pensions and $1.3 million deficit loom large in North Chicago budget," 6 June 2018

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'fiscal year.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

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22 May 2019

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The first known use of fiscal year was in 1843

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More Definitions for fiscal year

fiscal year

noun

Financial Definition of fiscal year

What It Is

A fiscal year is an accounting period of 365(6) days that does not necessarily correspond to the calendar year beginning on January 1st. The fiscal year is the established period of time when an organization's annual financial records commence and conclude.

How It Works

A company's fiscal year will always reflect the date of the calendar year in which it ends. For example: The financial operations of the federal government are carried out in a fiscal year that begins on October 1 and ends on September 30. Therefore the government's fiscal year for 2008 would begin on October 1, 2007 and end on September 30, 2008.

Why It Matters

The key thing to remember is that a fiscal year doesn't necessarily correspond with the calendar year. Although it may not seem like very important, when a company starts its fiscal year can have an impact on its fundamental analysis. This is especially true of cyclical companies.

Consider a retailer that has an incredible first quarter. An investor may look at that company and think it will probably post even higher earnings during the end of the year, during the holiday season. However, if that company started its fiscal year in September, then its first quarter earnings will have already encompassed the higher sales that accompany the holiday shopping season, and the remaining three quarters will most likely be a little lower.

Source: Investing Answers

fiscal year

noun