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Home > Business & Careers > Accounting   »   accounting year end

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Old Jan 28, 2007, 07:27 PM
skate
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accounting year end
Does a company have any advantages to choosing a fiscal year end of June 30 rather than a calendar year-end?

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Old Jan 28, 2007, 11:55 PM   #2  
CaptainForest
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Yes they do.

For example.

If my business does most of its sales from October – March, and I offer a return policy, having a June year end would reduce the need for as many estimates as I would otherwise need to have.
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Old Jan 29, 2007, 12:20 PM   #3  
Smith21000
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Another advantage of a June 30 year-end is the potential reduction of audit, review or compilation fees due to the fact it's off season for CPA firms. And occasionally they pay a little more attention to you due to the lack of time constraints. Simple supply and demand here.

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CaptainForest agrees: Good point about the audits!
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