Fiscal Year
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The 12-month accounting period used by governments and businesses for budgeting and financial reporting, which may differ from the calendar year.
## Fiscal Year
A fiscal year (FY) is any 12-month period used for financial reporting. Governments use fiscal years for budgets; companies may choose a fiscal year that aligns with their business cycle.
### Government Fiscal Years
| Country | Fiscal Year |
|---------|-------------|
| US Federal | October 1 – September 30 |
| UK | April 1 – March 31 |
| Japan | April 1 – March 31 |
| Australia | July 1 – June 30 |
| Canada | April 1 – March 31 |
### Corporate Fiscal Years
Many companies use a calendar fiscal year, but some choose different periods:
- Apple: October 1 – September 30.
- Microsoft: July 1 – June 30.
- Walmart: February 1 – January 31.
### Impact on Compensation
Bonuses, performance reviews, and compensation adjustments are often tied to the company's fiscal year rather than the calendar year. A 'Q4 bonus' depends on which fiscal year the company uses.