What does FY stand for?

What does FY stand for?

Fiscal Year
Fiscal Year (FY) Definition.

What is the financial definition of budget?

A budget is an estimation of revenue and expenses over a specified future period of time and is utilized by governments, businesses, and individuals. A budget is basically a financial plan for a defined period, normally a year that is known to greatly enhance the success of any financial undertaking.

What does FY 2018 mean?

2018 fiscal year
FY 2018 or “2018 fiscal year” means the twelve month period commencing on June 1, 2017 and ending May 31, 2018. Sample 1. Sample 2. FY 2018 means the twelve month period starting on February 1, 2018 and ending on January 31, 2019.

What does FY 2016 mean?

fiscal year
FY16 means the fiscal year commencing on 1 April 2016 and ending on 31 March 2017.

What is an example of a financial budget?

Below are some example expenses and estimated costs as well as an overview of each expense. Keep in mind that these costs can vary based on where you live, your income, and your financial obligations….Example of a budget.

Expense Monthly cost
Rent or mortgage payment $1,000
Home expenses $100
Home repairs $50
Car insurance $25

What are the types of financial budget?

Different types of budgets

  • Master budget. A master budget is an aggregation of lower-level budgets created by the different functional areas in an organization.
  • Operating budget.
  • Cash budget.
  • Financial budget.
  • Labor budget.
  • Static budget.

What is financial year end?

Financial Year End (also known as fiscal year-end or FYE) is the closing off of a company’s accounts for their business year. At its core, it is nothing more than the 12-month (annual) accounting period for a company and is used to assess the annual profit, loss, and performance of a company’s finances.

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