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A fiscal year is a period used for the purpose of preparing annual financial statements. It is often required by law to have a term
A fiscal year is a period used for the purpose of preparing annual financial statements. It is often required by law to have a term of 12 months, but it is not necessary when it starts or when it ends (may start on 1/1/or 1/3 or 1/7 etc...) This depends on the company, unless there is Regulatory body obligating the company with a specific start date.
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