Fiscal Year
Fiscal Year
- A Fiscal Year is an accounting period consisting of 365
consecutive days (or, in the case of a leap year, 366 days). A
"C" corporation has flexibility to choose any date as the start of its fiscal
year. However, the fiscal year of an "S" corporation is a calendar
year starting on January
1.
Disclaimer: The foregoing is intended to provide general information and may not be suitable in specific instances. The glossary information is not intended to be exhaustive, but rather to illustrate typical considerations. The material is provided with the understanding that it is not legal, accounting, tax or any other professional advice.
Disclaimer: The foregoing is intended to provide general information and may not be suitable in specific instances. The glossary information is not intended to be exhaustive, but rather to illustrate typical considerations. The material is provided with the understanding that it is not legal, accounting, tax or any other professional advice.
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