Many a strange thing..............to all the bad apples out there....


One reason a business or other organization will have its accounting year end on a date other than December 31 is to fit its natural business year. For example, school districts will use fiscal years of July 1 through June 30. Retailers often end their fiscal years near the end of January.

A corporation or other organization needing audited financial statements will likely save auditing fees by having its accounting year different from the calendar year end of December 31.