How to calculate the fiscal year

1. Determine the start date: determine the start date of the fiscal year, which is usually decided by the company itself and can be any day of the year.

2. Determine the end date: determine the end date of the fiscal year, usually the same day one year after the start date.

3. Determine the length of the fiscal year: calculate the number of days between the start date and the end date to determine the length of the fiscal year.

4. Determine the name of the fiscal year: determine the name of the fiscal year according to the start date and end date of the fiscal year. For example, the period from July 20021year to June 30, 2022 can be called fiscal year 2022.

5. Preparation of financial statements: Prepare financial statements according to the start date and end date of the fiscal year, including income statement, balance sheet and cash flow statement.