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    skate's Avatar
    skate Posts: 1, Reputation: 1
    New Member
     
    #1

    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
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    #2

    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
     
    #3

    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.

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