A fiscal year is a period of 12 months set by the firms for the purpose of preparing various accounts according to which accounting statements are prepared. These accounting statements are future helps to calculate taxes and other financial statements. The fiscal year not necessarily fixed for 1 Jan-31 Dec, but most of the firms especially Small corporations preferred it as the calendar year. For more upcoming informative posts, follow <a href="https://www.consultants500.com/company/franklin-i-ogele">Franklin I. Ogele</a>.
Published: April 12, 2021
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