Financial Year

Tag: Financial Year

Financial year is the timeframe used by organizations and businesses to calculate their annual fiscal statement. It is usually 12 months but it may be any period of time usually ending in a specific month. It helps companies decide on budgeting, financial planning, and strategic management of their current assets. Knowing the financial year also allows businesses to analyze profits, taxes, and other financial aspects. Companies often have to adjust their financial year based on their operations and needs. With a clear and stable financial year, businesses can properly make long-term financial objectives and a sustainable strategy.

Financial

Financial Year: Essential Guide to Forex Trading

by Benjamin GentrySeptember 2, 2023

A financial year (FY) is a 12-month period used for tax purposes by most countries. It marks the time period in which a company or individual must pay their taxes. During the financial year, businesses usually carry out activities such as tracking income and expenditure, filing taxes, and forecasting revenue and expenditure. It is also a period of stability for the foreign exchange (Forex) market, in which investors usually begin to plan their investments and strategies for the coming year. By understanding the various factors that can influence the Forex, investors can form an informed opinion of how the currency might perform during the particular FY.