Financial year


 

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Financial year

Every company has an 'accounting reference date'. This is a date which it chooses itself, and which determines its financial year. It must produce accounts showing how it has performed during the year, and file them with Companies House. The format of the accounts depends on whether it is a private company or a public listed company.Note that a company's financial year has little to do with either the calendar year (1st Jan to 31st Dec) or the tax year (6th April to 5th April).



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Legal and administrative costs of liquidation or reorganization. Also includes implied costs associated with impaired ability to do business (indirect costs).


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An institution which accepts funds from the public and reinvests in bank deposits, bonds and stocks etc. These include banks and insurance companies. In the UK a building society would be included.


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An experienced financial analyst who has passed examinations in economics, financial accounting, portfolio management, security analysis, and standards of conduct given by the institute of Chartered Financial Analysts.


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Combining or carving up existing instruments to create new financial products.


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Events preceding and including bankruptcy, such as violation of loan contracts.


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