The financial year end varies depending on the entity and country. Generally, the financial year is a 12-month accounting period chosen by a business or government for financial reporting and tax purposes. Common financial year ends include:

• December 31: The calendar year-end, used by many companies.
• June 30: Often used by organizations such as governments or businesses aligning with their operational cycle.
• September 30: Used by the US federal government and some businesses.
• Other dates: Businesses can select a fiscal year-end that best fits their business cycle, such as January 31 for retailers after holiday sales or the last Saturday of September like Apple.

In Australia, the financial year runs from July 1 to June 30. The US federal government fiscal year runs from October 1 to September 30. Corporations must file taxes within six months after their fiscal year ends. The fiscal year end is critical for generating financial statements, tax filings, and planning. The choice often reflects the natural business cycle of the entity to simplify closing accounts and reporting.