noun[C](abbreviationFY, alsoaccounting year)mainly UK
›ACCOUNTINGa period of twelve months for which a company prepares its accounts. In the UK, this period often ends at the end of March: the current/previous/next, etc. financial yearProfits for the current financial year are expected to rise more than 20%.the beginning/end/second half, etc. of the financial yearIn the second half of the financial year, we were successful in winning several new contracts.He was paid over £700,000 in the financial year to March 2010.