Calender Year and Fiscal Year. WTF?

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lomax
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Calender Year and Fiscal Year. WTF?

Post by lomax » Wed Nov 05, 2008 10:54 am

Why isnt the fiscal year Jan - Dec?

Why they make it from April - March?

Just a question.

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dubble
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Post by dubble » Wed Nov 05, 2008 10:56 am

Often the fiscal or tax year is specifically established not to match the calendar year (also called natural 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 employees may prefer to take vacation.
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Post by kins83 » Wed Nov 05, 2008 10:58 am

I didn't know this, but the answer on Wiki does make good sense:

"Often the fiscal or tax year is specifically established not to match the calendar year (also called natural 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 employees may prefer to take vacation."

I suppose it'd be a nightmare having all that workload at once. Why not spread the misery across the whole year?
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Post by kins83 » Wed Nov 05, 2008 10:59 am

lol great minds Dubble.
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Post by dubble » Wed Nov 05, 2008 11:09 am

I wouldn't be the person I am without Wikipedia
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Post by elbe » Wed Nov 05, 2008 11:18 am

:lol:

Jokes

the real reason is that the acient Fiscals thought the year started in April, the begging of spring, they where quite pagan people.
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lomax
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Post by lomax » Wed Nov 05, 2008 11:43 am

the ancient fiscals?
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kins83
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Post by kins83 » Wed Nov 05, 2008 11:45 am

I think eLBe is taing the piss....
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Post by elbe » Wed Nov 05, 2008 12:03 pm

kins83 wrote:I think eLBe is taing the piss....
me? take the piss?

why sir that is slander, sullying my good (if slightly knock-off) name. :lol:
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lomax
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Post by lomax » Wed Nov 05, 2008 12:16 pm

well I'm glad the Fiscal Ancients didn't make it onto my presentation.

I would have been in the shit then!!

:o :D
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Post by richy_root » Wed Nov 05, 2008 12:20 pm

dubble wrote:I wouldn't be the person I am without Wikipedia
indeed, indeed :roll:
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Post by pdomino » Wed Nov 05, 2008 12:44 pm

God bless Wiki !
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Post by nesslei » Wed Nov 05, 2008 4:53 pm

pdomino wrote:God bless Wiki !
Whether you require info on genital warts or the price of a plum in Hong Kong. The answer to all our questions.
that specific combination has the mind racing....
i'm takin this show on the road.

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Post by Jak The lad » Wed Nov 05, 2008 4:55 pm

Imagine if Fiscal did a yearly calender, that would confuse a few people.
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Post by FSTZ1 » Wed Nov 05, 2008 5:02 pm

ummm

if a company opens up for business in october 2007

their fiscal year ends in october 2008

however most major corps have adopted the fiscal year to match the calendar year
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