In USA ,UK the financial year strat from January or April?

Question

In USA ,UK the financial year strat from January or April?

Answer 1

Most businesses have a calender year financial return, but there are a number of businesses that are on a fiscal year which could end in any month of the year.  The reasons for using a fiscal year are many.  It may be that they want to close out their year during a slow period of the year because it is easier to count their inventory and all the extra work necessary to close the books for the year (adjusting and closing entries).  A fiscal year may be chosen because an annual audit is required, and their public accounting firm must schedule these audits to even the workload throughout the year.  Government bodies and other non-profits usually have a fiscal year in the US.  Individuals in the US must have a calender year for tax purposes in the US.

Answer 2

There is no one standard, because it is up to the dept or company.

For example, in the US of A, financial/fiscal year begins on:

...Jan for taxes (IRS) and most companies

...October for most federal government (books close Sept 31)

...and so on.

Answer 3

Jan bro....

Because after winter vacation they start new things...

Winter vacation fall in December...

Answer 4

I presume you are asking, does the financial year in USA and UK start in April or January? In the UK it is APRIL this is because the tax collectors here, back in 1752, stayed with the old 'Julian calender' when the rest of 'Christendom' changed to the 'Gregorian calender'. If you have ever had dealing with UK taxation/collection you will now understand, it's still some 300 years behind!!!

Answer 5

If you are asking about a company's fiscal year in the US then there is no standard answer.  Companies can choose to run their financial calender from whatever month is best for them.  For most, it's just easier to use January but there are plenty who choose a different time frame.  It just depends on the business cycle and what is convenient for the company.

Answer 6

Jan to Dec is the financial year and April is when the tax returns are due for the prior year

companies and individuals may set a different fiscal year, but the default is the calendar year