Basic accounting question
#1
Basic accounting question
I suspect I am having a thick moment....
IF, someone presented you with:
1999/00 2000/1 2001/2 2002/3 2003/4
and wanted sales figures for each column.
Would 1999/00 be the sales figures for all of 1999?
Or is it dependant on the companies FY?
TIA
Buck
IF, someone presented you with:
1999/00 2000/1 2001/2 2002/3 2003/4
and wanted sales figures for each column.
Would 1999/00 be the sales figures for all of 1999?
Or is it dependant on the companies FY?
TIA
Buck
#3
1999/00 would be, I guess, the sales figures from the start of the company's year in 1999 to the end of the company's year in 2000. For my company, I've set the end of year date to 31 March so the company's accounting years roughly line up with the IR's financial years.
If you want the sales figures for all of 1999, you will need to use part of the 98/99 figures and part of the 99/00 figures. But it's more likely they mean their 1999 financial year, which is probably 99/00 (but I usually tend to think in terms of year end dates, so instead of FY99 I'd say year ended 31 March 2000).
If you want the sales figures for all of 1999, you will need to use part of the 98/99 figures and part of the 99/00 figures. But it's more likely they mean their 1999 financial year, which is probably 99/00 (but I usually tend to think in terms of year end dates, so instead of FY99 I'd say year ended 31 March 2000).
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