pranesh
asked
Why was the fiscal year created and why is it different from the calendar year?
0
0
Answer Now
Comment
Report
1
Answers
Important Note – Preparing for CA Final?
CAKART provides Indias top faculty each subject video classes and lectures – online & in Pen Drive/ DVD – at very cost effective rates. Get video classes from CAKART.in. Quality is much better than local tuition, so results are much better.
Watch Sample Video Now by clicking on the link(s) below –
For any questions Request A Call Back
Jitendra Suthar
answered
Hiiiii friend....
The Accounting year in which we earn Income i.e. from April 1st to March 31st is termed as Fiscal year or Financial year.
We follow fiscal year for Accounting purposes in India April to march but it is different in some countries. The Fiscal year is different from calendar year because we Indians have new year from April so our whole year is same as fiscal year but we made to follow English calendar year instead of Hindu calendar year. So these both are different.
As per our culture Hindu calendar year we can say both fiscal year and calendar year are same.
Regards,
