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The Times

What are financial years – and why are they different from calendar years?

  • Written by Michaela Rankin, Professor and Head, Department of Accounting, Monash University
What are financial years – and why are they different from calendar years?Smart Calendar/Shutterstock

This article is part of The Conversation’s “Business Basics” series where we ask experts to discuss key concepts in business, economics and finance.

Today is July 1, the first day of the new financial year in Australia.

Also called fiscal years, financial years are often abbreviated in print. The one...

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