Ask Experts Questions for FREE Help !
    skate's Avatar
    skate Posts: 1, Reputation: 1
    New Member

    Jan 28, 2007, 09:27 PM
    Accounting year end
    Does a company have any advantages to choosing a fiscal year end of June 30 rather than a calendar year-end?
    CaptainForest's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
    Ultra Member

    Jan 29, 2007, 01:55 AM
    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.
    Smith21000's Avatar
    Smith21000 Posts: 69, Reputation: 9
    Junior Member

    Jan 29, 2007, 02:20 PM
    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.

Not your question? Ask your question View similar questions


Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.

Check out some similar questions!

Adjusting entries for year end [ 1 Answers ]

Hi everyone. I was wondering about year end adjusting enteries. What do I do with cash. Do I adjust it or leave it alone? I started with 25,000 and I ended with 30,000. Do I put this in OE or somewhere else. Do I adjust everything with a different balance?:eek:

Year-end Adjusting enteries [ 1 Answers ]

It is estimated that 5% of the accounts receivable balances, which is 49,000 will become uncollectible. What type of adjusting entry should I make?

Front-end vs. Back-end Tech Writing [ 4 Answers ]

What's the difference? Can someone give me an example of both? I'm SO confused! :confused: Thanks in advance. -HBG

Year-End Asset Summary (Investments) [ 3 Answers ]

Hi: We have $1029 in an investment company. This amount is divided 1/3rd each into Global Funds, Value Funds and Income funds. There is a value increase of $46 at the year end. Where should I show this amount? Should it be shown in Form 1099-INT or Form 1099-DIV or any other. Thanks in advance...

View more questions Search