Fiscal year definition

TDS 927 views 3 replies

Pankaj

SAP FICO Consultant

82 Points Joined September 2011

Dear All Experts,

Can you please tell me 1st April 2013 to 3st March 2014 is termed as Fiscal Year 2013 or 2014 ?

I am bit confused in terminology of fiscal year.

Kindly explain the term.

Regards,

Pankaj Bhalerao.

Replies (3)

Guest

Fiscal year in accounting term is same as Financial year, a 12 months period for which a company prepare its budget..

Pankaj

SAP FICO Consultant

82 Points Joined September 2011

Originally posted by : IndianTaxUpdates.com
	Fiscal year in accounting term is same as Financial year, a 12 months period for which a company prepare its budget..

Can you please tell me it Fiscal Year 2013 or 2014 ?

Guest

Originally posted by : Pankaj
	Originally posted by : IndianTaxUpdates.com Fiscal year in accounting term is same as Financial year, a 12 months period for which a company prepare its budget.. Can you please tell me it Fiscal Year 2013 or 2014 ?

In India, the government's financial year runs from 1 April to 31 March (Example 1 April 2013 to 31 March 2014 for the current financial year (2013–14).[

Companies following the Indian Depositary Receipts (IDR) are give freedom to chose their financial year. For example, Standard Chartered's IDR follows the UK calendar despite being listed in India