Fiscal Year (FY) is the 12-month period used by the United States for accounting and financial reporting purposes. It begins on October 1 of one year and ends on September 30 of the following year. This timeline allows organizations to identify, plan, and manage their budgeting and taxes in a more organized and efficient manner, while also creating a better view of long-term strategic goals. By tracking financial data for a full fiscal year, businesses can operate at peak efficiency and ensure that key decisions are made with up-to-date information.