Meaning of “financial year” in the English Dictionary

Business

"financial year" in English

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financial yearnoun [ C ]

uk /faɪˌnæn.ʃəl ˈjɪər/ us /faɪˌnæn.ʃəl ˈjɪr/

Examples from literature

  • A sharp increase is bound to come, however, in the course of the financial year. 
  • Each of these companies ended its financial year solvent by selling great holdings of shares to one or other of its sisters, and paying a dividend out of the proceeds. 
  • It consequently follows that the expenditure charged, or chargeable, to votes of credit for this financial year represent, broadly speaking, the difference between the expenditure of the country on a peace footing and that expenditure upon a war footing. 
  • It is hoped that conditions will permit a senior appointment during the present financial year to inaugurate the service. 
  • Owing to fortuitous circumstances, the amount for the first thirty-five days of the financial year had turned out to be seven and a half millions a day. 

(Definition of “financial year” from the Cambridge Advanced Learner’s Dictionary & Thesaurus © Cambridge University Press)

"financial year" in Business English

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financial yearnoun [ C ]

uk us abbreviation FY, also accounting year mainly UK

ACCOUNTING a 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 year Profits for the current financial year are expected to rise more than 20%.
the beginning/end/second half, etc. of the financial year In 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.

(Definition of “financial year” from the Cambridge Business English Dictionary © Cambridge University Press)