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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.
When citing a fiscal year (often denoted as FY), the year on which the closing date falls is considered the fiscal year. So a company with a fiscal year that begins April 1, 2017, and ends March 31, 2018 refers to that period as fiscal year 2018, even though it starts in 2017.