Understanding the 2024 Financial Year: Key Dates and Importance

Learn about the 2024 financial year, its duration, and why it matters for budgeting and accounting.

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The 2024 financial year typically starts on July 1, 2023 and ends on June 30, 2024. This 12-month period is used by businesses and governments for accounting and budgeting purposes, ensuring all financial activities are tracked systematically.

FAQs & Answers

  1. When does the 2024 financial year end? The 2024 financial year ends on June 30, 2024.
  2. Why is the financial year important? The financial year is important for systematic accounting and budgeting, helping businesses and governments track their financial activities.
  3. How do financial years differ across countries? Financial years can vary by country; for example, the US federal fiscal year runs from October 1 to September 30.
  4. What is the purpose of a financial year? The purpose of a financial year is to define a specific period for organizations to report financial performance and plan budgets.

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