when does fiscal year 2025 start

Vender Womder

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23-11-2024

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Understanding Fiscal Years

A fiscal year (FY) isn't the same as a calendar year. It's a 12-month period that a government or business uses for accounting purposes. While calendar years run from January 1st to December 31st, fiscal years can begin on any date. This allows organizations to align their accounting periods with their operational cycles.

Fiscal Year 2025 Start Date

For the United States federal government, the fiscal year 2025 begins on October 1, 2024, and ends on September 30, 2025. This is consistent with the standard U.S. government fiscal year, which always begins on October 1st.

Why October 1st?

The U.S. government chose October 1st as the start of its fiscal year for several historical and practical reasons. It likely stems from the agricultural cycle and the need to account for tax revenues collected after the harvest season.

Other Organizations' Fiscal Years

It's crucial to remember that not all organizations use the same fiscal year. Many private companies and even some state or local governments may have different fiscal year start dates. Always check the specific organization's policies or financial statements to determine their fiscal year.

Key Dates to Remember for FY2025 (U.S. Federal Government):

• Start Date: October 1, 2024
• End Date: September 30, 2025

How to Find Fiscal Year Information for Other Entities:

If you need to find the fiscal year start date for a specific company or organization, consult the following:

• Company's Website: Look for an "Investor Relations" or "About Us" section, which often contains information about the company's fiscal calendar.
• Annual Reports: Annual reports typically state the fiscal year covered.
• SEC Filings (for publicly traded companies): The Securities and Exchange Commission (SEC) website contains filings that will show the fiscal year.
• Government Websites: For state or local governments, check their official websites for budget information or financial reports.

In summary: While the U.S. federal government's fiscal year 2025 begins on October 1, 2024, other entities may have different fiscal year start dates. Always verify the specific organization's fiscal year to ensure accuracy.