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Simple English definitions for legal terms

fiscal period

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A quick definition of fiscal period:

A fiscal period is a specific period of time used for accounting purposes. It can be a calendar year, which is 12 months from January 1 to December 31, or any other consecutive 365-day period. A fiscal year is often different from the calendar year, especially for tax purposes. A tax year is the period used for computing federal or state income-tax liability, usually either the calendar year or a fiscal year of 12 months ending on the last day of a month other than December.

A more thorough explanation:

A fiscal period is a specific period of time used for accounting and financial reporting purposes. It can refer to:

  • Fiscal year: A 12-month period used by a company or organization for financial reporting. It may or may not align with the calendar year.
  • Half-year: A period of 182 days used for legal computation.
  • Natural year: The period of 365 days and about 6 hours, or the time it takes the earth to orbit the sun.
  • Tax year: The period used for computing federal or state income-tax liability, usually either the calendar year or a fiscal year of 12 months ending on the last day of a month other than December.

For example, a company may have a fiscal year that runs from July 1 to June 30. This means that all financial reporting and accounting activities for that company are based on this 12-month period. Similarly, the tax year used for calculating income tax may be different from the calendar year.

Understanding the fiscal period is important for accurate financial reporting and tax compliance.

fiscal officer | fiscal year

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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