Ad-Free CAclubindia and Daily Updates on your mobile. Subscribe Now!

Fiscal year definition

Pankaj (SAP FICO Consultant) (82 Points)

09 April 2013

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.

Reply
Follow
Share

3 Replies

(Guest)

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

Upgrade to CAclubindia Pro. Subscribe Now!

Pankaj (SAP FICO Consultant) (82 Points)
Replied 09 April 2013

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