The twelve-month period chosen by a government or a business organization for accounting purposes. In 1974 the starting date for the US government’s fiscal year was changed from 1 July to 1 October, partly to enable US Congressional...

Often the fiscal or tax year is specifically established not to match the calendar year so that accounting year-end work does not coincide with periods of high activity, such as the Christmas shopping rush for retailers, or with holiday periods when...