Business

Alibaba records first quarterly operating loss since IPO

Alibaba had its first quarterly operating loss since it went public in 2014 after Beijing slapped a record $2.8 billion fine on the nation's largest e-commerce company for abusing its market position.

Business

Japan Airlines logs $2.6 billion loss over pandemic

Japan Airlines posted an annual net loss of $2.6 billion Friday but did not release a forecast for the current financial year, citing uncertainty around the coronavirus pandemic.

Business

Nintendo logs record pandemic profit but outlook cautious

Nintendo reported a record annual profit Thursday after virus lockdowns caused sales of its blockbuster Switch console to soar, but the Japanese gaming giant warned that its bumper pandemic year would be hard to repeat.

Automotive

Nissan upgrades annual forecast despite Q3 net loss

Crisis-hit Japanese carmaker Nissan on Tuesday upgraded its full-year forecast for the second straight quarter, as the global auto industry shows signs of recovery from the coronavirus pandemic.

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Fiscal year

A fiscal year (or financial year, or sometimes budget year) is a period used for calculating annual ("yearly") financial statements in businesses and other organizations. In many jurisdictions, regulatory laws regarding accounting and taxation require such reports once per twelve months, but do not require that the period reported on constitutes a calendar year (i.e., January through December). Fiscal years vary between businesses and countries.

In addition, many companies find that it is convenient for purposes of comparison and for accurate stock taking to always end their fiscal year on the same day of the week, where local legislation permits. Thus some fiscal years will have 52 weeks and others 53. Major corporations that adopt this approach include Cisco Systems and Tesco.[citation needed]

In the United Kingdom, a number of major corporations that were once government owned, such as BT Group and the National Grid, continue to use the government's financial year, which ends on the last day of March, as they have found no reason to change since privatisation.

Nevertheless, the fiscal year is identical to the calendar year for about 65% of publicly traded companies in the United States and for a majority of large corporations in the UK and elsewhere (with notable exceptions Australia, New Zealand and Japan).[citation needed]

Many universities have a fiscal year which ends during the summer, both to align the fiscal year with the school year, and because the school is normally less busy during the summer months.

Some media/communication based organizations use a Broadcast calendar as the basis for their fiscal year.

This text uses material from Wikipedia, licensed under CC BY-SA