Financial year is a term used to describe the period of time that an organization uses to measure its financial performance. There are several synonyms for this term, including fiscal year, accounting year, and budget year. These terms refer to the same concept, which is the period of time during which an organization measures its financial performance, typically 12 months. In some countries, the financial year coincides with the calendar year, while in others, it begins on a different date. Regardless of the specific terminology used, understanding the financial year and its synonyms is essential for anyone involved in managing an organization's finances.