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.
year
'das Jahr' and 'das Geschäftsjahr' both refer to a period of twelve months. 'das Jahr' is the general word and fits in many situations, for example with time, age, or plans. 'das Geschäftsjahr' is used only in connection with companies, accounting, and balance sheets. It can begin on January 1, but it does not have to. Learners may confuse the words because both refer to twelve months. But when the topic is a company's money, company reports, or taxes, 'Geschäftsjahr' is more precise.
Im neuen Geschäftsjahr plant die Firma höhere Ausgaben für Werbung.
In the new fiscal year, the company is planning higher spending on advertising.
Dieses Jahr möchte meine Freundin einen neuen Kurs beginnen.
This year, my friend wants to start a new course.