This is often why there are budget impasses and the threat of short-term government shutdowns in the fall—budgets need approval by the start of the new fiscal year. Many non-profits also follow a ...

The calendar year, as the name implies, follows the structure of a standard calendar and begins on January 1. A fiscal year lasts for the same duration -- 365 days -- but can begin any time as ...

Calendar Year The 12 months beginning Jan. 1 and ending Dec. 31 constitute a calendar year. It is the most commonly used type of accounting year by both individuals and businesses.

The new calendar was anything but perfect. Since Romans believed odd numbers were auspicious, they attempted to divide the year into odd-numbered months; the only exception was February, which was ...

For centuries, humans struggled to sync civil, religious, and agricultural calendars with the solar year. Adding a ‘leap year’ solved the problem—though just for the next 3,300 years.