Fiscal Year is also called as the Financial Year or Accounting Reference Date. It is considered as any 12 month period for a company to pertain its financial transactions and submit to the public treasury. These reports are required for accounting laws in many jurisdictions, once a year.
During this period, the company's transactions are authorized. At the end of this period, the accounts are composed and the books are closed by
determining the profit and loss. A company's fiscal year may vary depending upon their business and country. The Fiscal Month of the US Government is September 30.