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Fiscal Year (FY)

It’s the special twelve-month calendar that a company or government uses for preparing financial statements and drawing up their accounting. Where the calendar year runs the same year in and year out (January 1 to December 31, duh), the fiscal year in the US runs from October 1 to September 30 of the following year. The fiscal year is written as the year in which it ends; so, FY2016 will begin on October 1, 2015, and end on September 30, 2016.

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