fiscal year
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fiscal year
A period of twelve months for which a company closes its balance sheet and accounting records. It does not have to coincide with the calendar year and is also called a financial year.
Das Unternehmen schloss das vergangene Geschäftsjahr mit einem Rekordgewinn ab.
The company closed the past fiscal year with a record profit.
This word is made up of 'Geschäft' (business) and 'Jahr' (year), connected by an 's'. It literally means 'the year of the business'.
Für viele Firmen beginnt das Geschäftsjahr nicht am 1. Januar.
For many companies, the fiscal year does not begin on January 1.
'Geschäftsjahr' (fiscal year) is a technical term from business, finance, and accounting. In everyday language, people usually talk about the 'Jahr' (year) or 'Kalenderjahr' (calendar year).
Der Finanzbericht für das letzte Geschäftsjahr wird bald veröffentlicht.
The financial report for the last fiscal year will be published soon.
Common verbs are 'ein Geschäftsjahr abschließen' (to close a fiscal year) or 'beginnen' (to begin). It is often used with adjectives like 'laufend' (current), 'abgelaufen' (past/expired), or 'erfolgreich' (successful).
Im laufenden Geschäftsjahr erwarten wir einen höheren Umsatz.
In the current fiscal year, we expect higher revenue.
