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What are the financial year? And any history of any history begins and ends?

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Question ajoutée par walid hussen hamed mouhamed aoud , محاسب عام للشركة , شركة ويتر كير (water care ) لخدمات المياه والمرافق والمقاولات واعمال التشييد - مشروع الطاقه الشمسيه
Date de publication: 2014/11/02
Ehab Khattab
par Ehab Khattab , Director,Group Head Of internal Audit , Commercial International Capital Holding

It is so simple, the financial Year is365 days all the people Know that!!

the problem usually when it starts (or ends)?? 

it is according to operation of the company , it shod be on the least financial needs of the company

i belive this is not clear enough  so we hacve to give samples

the toy industry (toys R US) sell all its inventory in  the period before christmas, and that is why the end of the financial statment is31 March

for cultivation companies in egypt, the season start on october that is why the end of finacial statment is30 september.

for the commercial banks there is no cycle (the finance is relativly stable so they chose end of the year 31 december to be the end of financial statment or can use30 June ) or can use30 June

 

best regards

 

 

 

 

 

Muhammad Ismail
par Muhammad Ismail , Accountig Manager , SITCO DIS TIGARET STI LLC

In accounting Financial Year means a calender year as set forth by the Law being in force in any country and for the time being in force.

Financial year is a main source of Time Unit for comparing the performance of and organization with its own or other organizations.

Ramaswamy Uppuleti
par Ramaswamy Uppuleti , Junior Accountant , PUSHPANJALI COUNTRY RESORT

In India, the government's financial year runs from1 April to31 March midnight. Example:1 April2014 to31 March2015 for the financial year2014–2015.

Companies following the Indian Depositary Receipt (IDR) are given freedom to choose their financial year. For example, Standard Chartered's IDR follows the UK calendar despite being listed in India.

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