Fiscal year end
The fiscal year end is the date on which a company finishes a 12-month business cycle. Most companies’ fiscal years are different than the calendar year, ending on dates other than Dec. 31. This is particularly important for seasonal businesses like retail stores that do increased business around the end of the year and need to concentrate capacity on sales and production instead of counting inventory.
Common fiscal year-end dates include March 31, June 30 and Sept. 30. All of Canada’s major domestic private banks end their fiscal year on Oct. 31.