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English definition of “fiscal year”

fiscal year

noun [C]
 
 
( abbreviation FY)
ACCOUNTING a period of 12 months for which a company prepares its accounts: He expects earnings for the fiscal year ending next March to rise to 45 to 50 cents a share. → Compare financial year
ECONOMICS, GOVERNMENT a period of 12 months for which a government records its income and spending: More than two weeks into the new fiscal year, the state at last has a spending plan.fiscal year 2011/2012/2013, etc. The Office of Management and Budget has released the federal budget for fiscal year 2011.
(Definition of fiscal year from the Cambridge Business English Dictionary © Cambridge University Press)
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