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fiscal year

(Dictionary)

Author:
Harold Averkamp, CPA, MBA

Definition

An accounting year that ends on a date other than December 31. For example, a school district might have a fiscal year of July 1, 2024 through June 30, 2025. A retailer might have a fiscal year consisting of the 52 or 53 weeks ending on the Saturday nearest to the first day of February.

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About the Author

Harold Averkamp

For the past 52 years, Harold Averkamp (CPA, MBA) has
worked as an accounting supervisor, manager, consultant, university instructor, and innovator in teaching accounting online. He is the sole author of all the materials on AccountingCoach.com.

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