A financial year (also called fiscal year) is a 12-month period that businesses, governments, and organizations use for accounting and financial reporting. Unlike the calendar year which always runs from January to December, financial years can start in any month depending on the country or organization.

Different countries adopt different financial year cycles based on various factors including tax regulations, seasonal business patterns, and administrative convenience. Understanding your financial year is crucial for tax filing, budgeting, and financial planning.

Countries and organizations choose different financial year start dates for various reasons. Some align with seasonal business cycles, others with agricultural patterns, and many simply follow historical traditions. For example, India uses April-March to align with the agricultural harvest season, while Australia uses July-June to allow more time after the calendar year ends for tax preparation.