A fiscal year is used in government accounting, which varies between countries, for budget purposes. It is used for financial reporting by businesses and other organizations. Laws in many jurisdictions require company financial reports to be prepared and published on an annual basis, but do not require the reporting period to align with the calendar year. Taxation laws require accounting records to be maintained and taxes calculated on an annual basis, which corresponds to the fiscal year used for government purposes; the calculation of tax on an annual basis is relevant for direct taxation, such as income tax. Many annual government fees—such as Council rates, license fees, etc.—are levied on a fiscal year basis, while others are charged on an anniversary basis. Some companies—such as Cisco Systems—end their fiscal year on the same day of the week each year, i.e. the day, closest to a particular date. Under such a system, some fiscal years will have 52 others 53 weeks; the calendar year is used as the fiscal year by about 65% of publicly traded companies in the United States and for a majority of large corporations in the UK and elsewhere, with notable exceptions being in Australia, New Zealand and Japan.
Many universities have a fiscal year which ends during the summer to align the fiscal year with the academic year, because the university is less busy during the summer months. In the northern hemisphere this is July to the next June. In the southern hemisphere this is January to December; some media/communication-based organizations use a broadcast calendar as the basis for their fiscal year. The fiscal year is denoted by the calendar year in which it ends, so United States federal government spending incurred on 14 November 2020 would belong to fiscal year 2021, operating on a fiscal calendar of October–September; the fiscal year for individuals and entities to report and pay income taxes is known as the taxpayer's tax year or taxable year. Taxpayers in many jurisdictions may choose their tax year; some federal countries, such as Canada and Switzerland, require the provincial or cantonal tax year to align with the federal year. In the United States, most states retained a 30 June fiscal year-end date when the federal government switched to 30 September in 1976.
Nearly all jurisdictions require that the tax year be 52/53 weeks. However, short years are permitted as the first year. Most countries require all individuals to pay income tax based on the calendar year. Significant exceptions include: Australia: individuals pay income tax based on the financial year of 1 July until 30 June. United Kingdom: the tax year for individuals begins on 6 April; this is due to Britain having a calendar year starting on Lady Day in the Julian calendar, which translated to 5 April when the Gregorian calendar was adopted in 1752, which became 6 April in 1800.. United States: individuals may elect any tax year, subject to IRS approval. Many jurisdictions require that the tax year conform to the taxpayer's fiscal year for financial reporting; the United States is a notable exception: taxpayers may choose any tax year, but must keep books and records for such year. In some jurisdictions those that permit tax consolidation, companies that are part of a group of businesses must use nearly the same fiscal year, with consolidating entries to adjust for transactions between units with different fiscal years, so the same resources will not be counted more than once or not at all.
In Afghanistan, the fiscal year was changed from 1 Hamal – 29 Hoot to 1 Jadi – 30 Qaws. The fiscal year runs with the Afghan or Solar Hijri calendar, because of the differing cycle of leap years in the Gregorian and Afghan calendars, there can be slight differences in the start date of fiscal years; as shown in the chart below, leap years will coincide in 2020 and 2024 but will desynchronize with the Gregorian calendar having a leap year in 2028 as opposed to the Afghan calendar's leap year of 2029. Correspondence of Solar Hijri and Gregorian calendars In Australia, a fiscal year is called a "financial year" and starts on 1 July and ends on the next 30 June. Financial years are designated by the calendar year of the second half of the period. For example, financial year 2017 is the 12-month period ending on 30 June 2017 and can be referred to as FY2016/17, it is used for official purposes, by individual taxpayers and by the overwhelming majority of business enterprises. Business enterprises may opt to use a financial year that ends at the end of a week, or opt for its financial year to end on a date that matches the reporting cycle of its foreign parent.
All entities within the one group must use the same financial year. For government accounting and budget purposes, pre-Federation colonies changed the financial year from the calendar year to a year ending 30 June on the following dates: Victoria changed in 1870, South Australia in 1874, Queensland in 1875, Western Australia in 1892, New South Wales in 1895 and Tasmania in 1904; the Commonwealth adopted the near-ubiquitous financial year standard since its inception in 1901
The Fire This Time is a live album by Lester Bowie's Brass Fantasy recorded in Aarburg, Switzerland for the In & Out label. It is the seventh album by Bowie's Brass Fantasy group and features performances by Bowie, Vincent Chancey, Frank Lacy, Louis Bonilla, E. J. Allen, Gerald Brezel, Tony Barrero, Bob Stewart, Vinnie Johnson and Famoudou Don Moye; the Allmusic review by Michael G. Nastos awarded the album 4 stars calling it "one of the most important in the Brass Fantasy's history and development". "Night Time" - 2:54 "For Louis" - 7:13 "Journey Towards Freedom" - 10:55 "Remember the Time" - 8:32 "Strange Fruit" - 9:15 "Siesta for the Fiesta" - 4:14 "Night Life" - 10:29 "Black or White" - 7:19 "Three for the Festival" - 6:06 "The Great Pretender" - 7:33Recorded live on 1 May 1992 at the Moonwalker Club, Switzerland Lester Bowie: trumpet Vincent Chancey: French horn Frank Lacy: trombone Luis Bonilla: trombone E. J. Allen: trumpet Gerald Brezel: trumpet Tony Barrero: trumpet Bob Stewart: tuba Famoudou Don Moye: percussion Vinnie Johnson: drums
A cestus or caestus is an ancient battle glove, sometimes used in pankration. They were worn like today's boxing gloves, but were made with leather strips and sometimes filled with iron plates or fitted with blades or spikes, used as weapons; the word caestus is Latin, a deverbal noun derived from the verb caedere, meaning "to strike", can be reasonably translated as "striker". The Latin plural is caestūs. Cesti has sometimes been used. In English, "cestuses" can be used; the first cestuses in Ancient Greece were used in boxing-like competitions. Called meilichae, these gloves consisted of strips of raw hide tied under the palm, leaving the fingers bare; the Greeks invented a variation called the sphere, which were sewn with small metal balls covered with leather. The Roman variant included straps of different lengths, many reaching to the elbow, in order to protect the forearm when guarding heavy blows. Caestūs were used in Roman gladiatorial bouts, both against each other and against other weapon-wielding gladiators.
Despite being outmatched by other types of gladiators, a single hit from a cestus would have incapacitated most fighters. The cestus-fighter would have otherwise had no body armour. Cestus-fighters were slaves, who fought to the death. Caestūs boxing was abolished in 393 AD due to excessive brutality; the most famous depiction of cestuses is the Hellenistic sculpture the Boxer of Quirinal. The sitting figure is wearing cestuses on his hands, it is part of the permanent collection of the National Museum of Rome. Brass knuckles Tekko Weighted-knuckle glove Biker Mice from Mars