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Sagot :
Jillian should calculate her transactions from the month of October 1st to the month of September 30th of the next year, which is the federal fiscal year.
The fiscal year of the federal government runs from the first day of October in one calendar year to the last day of September in the following. The fiscal Year 2021 (FY 2021), for example, began on October 1, 2020, and ended on September 30, 2021.
The current fiscal year, FY 2022, will conclude on September 30, 2022. The fiscal year 2023 begins on October 1, 2022, and ends on September 30, 2023.
A fiscal year is an annual time period used by businesses and governments for financial reporting and budgeting. Despite the fact that the length of time is the same, the start and end dates of a fiscal year frequently differ from those of a calendar year.
They are essential for accounting because they are used in federal tax filings, budget documents, and reporting income and expenses.
To learn more about fiscal year, please refer:
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