Calendar Year vs. Fiscal Year: What's the Difference?

A calendar year always runs January 1 to December 31. A fiscal year is any consecutive 12-month period an organization or government uses for accounting and budgeting — it does not have to match the calendar year.

Common fiscal-year patterns

• Many countries and companies use the calendar year as their fiscal year.
• India's government fiscal year runs April 1 to March 31.
• The UK government's fiscal year runs April 6 to April 5.
• The US federal government's fiscal year runs October 1 to September 30.

Because fiscal-year start dates vary by country and even by organization, always confirm the specific fiscal year in use before relying on it for planning.