Fiscal year vs calendar year
Compare January-to-December years with alternative twelve-month reporting periods.
Calendar years
A calendar year begins January 1 and ends December 31. It matches everyday date language and many individual tax periods.
Fiscal years
A fiscal year is a twelve-month reporting period chosen by an organization or government. Its name often follows the year in which it ends, but conventions differ.
Why the distinction matters
Budgets, quarters and year-over-year comparisons can be misleading when periods do not align. Always identify both the start and end dates.
Related year guides
- Calendar quarters explained — See which months belong to Q1, Q2, Q3 and Q4.
- How many working days are in a year? — Estimate weekdays, then account for holidays and leave.
- How many weeks are in a year? — Why a year is about 52 weeks and why some ISO years have week 53.