calendar year legal definition
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Calendar Year The definition of Calendar Year in the law of the United States, as defined by the lexicographer Arthur Leff in his legal dictionary is: January first through December thirty-first; usually used in contradistinction to some other way of measuring a year, e.g., academic year, fiscal year.
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Leap year Leap year. A leap year (also known as an intercalary year or bissextile year) is a calendar year containing one additional day (or, in the case of lunisolar calendars, a month) added to keep the calendar year synchronized with the astronomical or seasonal year.
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What is a Fiscal Year? - Definition & Example A fiscal year is a 12-month period that a company or government uses for accounting and financial statement purposes. A fiscal year does not always begin in January and end in December, like the calendar year; it may run over any period of 12 months. For tax purposes, companies can choose to be calendar-year taxpayers or fiscal-year taxpayers.
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Volume EMC 01. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or. transmitted, in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of the Financial. Accounting Standards Board.
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fiscal year A 12-month period over which a company budgets its spending. A fiscal year does not always begin in January and end in December; it may run over any period of 12 months. The fiscal year is referred to by the date in which it ends. For example, if a company's fiscal year ends October 31, 2006, then everything between November 1, 2005 and October 31, 2006 would be referred to as FY 2006. Not using the actual calendar year gives many companies an advantage, allowing them to close their books at a time which is most convenient for them.
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- Wells Fargo - Santa Maria 407 E Main St, Santa Maria CA 93454 Phone Number: (805) 349-2009
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Fiscal Year Fiscal Year. A fiscal year is any 52-week period used consistently by an organization for the purposes of financial reporting and policy setting. It may or may not correspond with the typical calendar year of January to December.
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What is a Fiscal Year? - Definition & Example Summary. A fiscal year is a 12-month period that a company or government uses for accounting and financial statement purposes. A fiscal year does not always begin in January and end in December to match the calendar year; it may run over any period of 12 months.
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What is Fiscal Year? Businesses track income and expenses for reporting to the Internal Revenue Service (IRS) on a 365-day basis. A fiscal year is an annual period that starts on one day and ends 364 days later. When the period of a year starts on January 1 and ends on December 31, the company uses the calendar year as its fiscal year. Any other start date besides January 1 indicates a fiscal year that is not a calendar year.
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calendar year Definition. Twelve-month period starting with January 1 and ending with December 31, and which has 365 days in non leap years and 366 days in a leap year.Also called civil year.welve-month period starting with January 1 and ending with December 31, and which has 365 days in non leap years and 366 days in a leap year.
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What is a 'Fiscal Year - FY' DEFINITION of 'Fiscal Year-FY'. A period that a company or government uses for accounting purposes and preparing financial statements. The fiscal year may or may not be the same as a calendar year. For tax purposes, companies can choose to be calendar-year taxpayers or fiscal-year taxpayers.
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fiscal year Fiscal Year. An accounting year ending on the last day of any month except December, or a 52-53 week tax year, which is a year that ends on the same day of the week (for example, the last Thursday of the month or on the Thursday that is closest to the end of the month).iscal Year. An accounting year ending on the last day of any month except December, or a 52-53 week tax year, which is a year that ends on the same day of the week (for example, the last Thursday of the month or on the Thursday that is closest to the end of the month).
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Fiscal Year Advertisement. A fiscal year is any 52-week period used consistently by an organization for the purposes of financial reporting and policy setting. It may or may not correspond with the typical calendar year of January to December.
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- A fiscal year (or financial year, or sometimes budget year) is a period used for calculating annual (yearly) financial statements in businesses and other organizations all over the world.
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What is a 'Fiscal Year - FY' DEFINITION of 'Fiscal Year-FY'. A period that a company or government uses for accounting purposes and preparing financial statements. The fiscal year may or may not be the same as a calendar year.For tax purposes, companies can choose to be calendar-year taxpayers or fiscal-year taxpayers.EFINITION of 'Fiscal Year-FY'. A period that a company or government uses for accounting purposes and preparing financial statements. The fiscal year may or may not be the same as a calendar year.
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- A period from a specified day in one month to the day numerically corresponding to that day in the following month, less one. Related Terms: Calendar Day, Calendar Quarter, Calendar Week, Calendar Year. Generally, when the word month is used in the context of a legal deadline, it means a calendar month. In the 3rd edition of Halsbury's Laws of England, volume 37, the authors wrote:
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- Twelve-month period starting with January 1 and ending with December 31, and which has 365 days in non leap years and 366 days in a leap year. Also called civil year. http://www.businessdictionary.com/definition/calendar-year.html.
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What Is the Definition of a Fiscal Year? A fiscal year is your business's annual reporting period. All kinds of reports are based on the fiscal year, including taxes. The fiscal year is generally a twelve month period – although the fiscal year period may be shorter for a business that has just started or for a business that ends. For most businesses, the fiscal year runs from January 1st through December 31st.
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- Definition of calendar year. 1  1 : a period of a year beginning and ending with the dates that are conventionally accepted as marking the beginning and end of a numbered year. 2  2 : a period of time equal in length to that of the year in the calendar conventionally in use.
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GLOSSARY OF LEGISLATIVE TERMS CALENDAR -- (1) A printed list of proposals that are arranged according to the order of business and are scheduled for consideration by a chamber. (2) Agenda of daily legislative business in a chamber. CALENDAR DAY -- Literally a day as listed on the Gregorian calendar.
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What Is the Meaning of Fiscal Year? A fiscal year is an accounting period. The accounting period can either be the calendar year from January to December or another 12-consecutive-month period selected by a company. Fiscal years are important because they are the period by which companies generate a variety of financial data and determine taxes, profits and expenses.
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Definitions &Translations Wiktionary(2.00 / 2 votes)Rate this definition: 1  calendar(Noun) Any system by which time is divided into days, weeks, months, and years. 2  calendar(Noun) A means to determine the date consisting of a document containing dates and other temporal information. 3  calendar(Noun) A list of planned events.
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Definitions &Translations Regnal year A regnal year is a year of the reign of a sovereign, from the Latin regnum meaning kingdom, rule. The oldest dating systems were in regnal years, and considered the date as an ordinal, not a cardinal number.
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calendar cal•en•dar. 1. a table or register with the days of each month and week in a year. 2. any of various systems of reckoning time, esp. with reference to the beginning, length, and divisions of the year, as the Gregorian calendar or the Julian calendar.he Gregorian calendar is now in use as the civil calendar throughout most of the world. The Jewish calendar is the official calendar of the Jewish religious community.
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Translations for fiscal year In many jurisdictions, regulatory laws regarding accounting and taxation require such reports once per twelve months, but do not require that the period reported on constitutes a calendar year (that is, 1 January to 31 December). Fiscal years vary between businesses and countries.
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Tickler and Calendar Systems Tickler and Calendar Systems. There are two systems that each lawyer and law firm should have in place to ensure that deadlines are not missed and files are not neglected - the Tickler System and the Calendar System. Systems for reminding you to work on files are called Tickler or Diary Systems.