Fiscal Year

Definition:

The 12-month period, not necessarily coinciding with the calendar year, chosen to be a single year for financial reporting and taxes of a business.

Examples:

The company has done really well over the past fiscal year, despite the downturn in the economy.

That contracting business sets its fiscal year to start on October 1st, to match up with the government’s schedule, as most of their business is on municipal road projects.