FY Full Form in English - Web Designing House

FY Full Form


FY (Fiscal Year)

FY Full Form

FY Full Form- Full form of FY is Fiscal Year.
Definition of Fiscal Year- A Fiscal year is an accounting year that does not end on
December 31. (Accounting years of January 1 through December 31 are known as
calender years).
A fiscal year could be a 12-month period of time or a 52/53 -week period of time.
One reason a U.S. business or other organization will have its accounting year end
on a date other than December 31 is to coincide with its natural business year.
When an organization’s fiscal year ends outside of the CPA’s business season. The
organization may be able to negotiate a lower auditing fee.
FY (fiscal year) Function- FY is a deprecated function. It returns the current
financial year. It also returns the financial year based on parameter dates and
offset period in years.
FY (fiscal year) value- This is defined as common shareholder’s equity divided by
the shares outstanding at the end of the most recent fiscal year. Book value is the
total shareholder’s equity minus preferred stock and Redeemable Preferred stock.
Understanding Fiscal Year- A fiscal year is a period of time lasting one year but
not necessarily starting at the beginning at the calendar of the year. Countries,
companies, and organizations can start and end their fiscal years differently,
depending on their accounting and external audit practices.
Knowing a company’s fiscal year is important to corporations and their investors
because it allows them to accurately measure revenue and earning year-over-
year. The Internal Revenue Service (IRS) allows companies to be either calendar
year or fiscal year, taxpayers.
According to the IRS, a fiscal year consists of 12 consecutive months ending on the
last day of any month except December. Alternatively, instead of observing a 12-
month fiscal year, U.S. taxpayers may observe a 52- to 53- week fiscal year. In this
case, would end on the same day of the week each year, whichever happens to be

the closest to a certain date such as the nearest Saturday to Dec. 31. This system
automatically results in some 52-week fiscal years and some 53-week fiscal years.
Examples of Fiscal years-
 12 months of February 1 through January 31.
 12 months of October 1 through September 30.
 12 months of June 1 through May 31.
 52 weeks ending on the Saturday closest to January 31. (Since 52 weeks X 7
days = 364 days vs. 365 days per year, there will be an occasional 53-week year).