Читать книгу Wiley GAAP: Financial Statement Disclosure Manual - Joanne M. Flood - Страница 106

Example 7.1: Fiscal Period The Company's fiscal year ends on the Sunday closest to January 31 of the following year, typically resulting in a 52‐week year, but occasionally giving rise to an additional week, resulting in a 53‐week year. Fiscal 20X8 was a 53‐week year. Fiscal 20X7 and fiscal 20X6 were each 52‐week years. Fiscal 20X8, 20X7, and 20X6 ended on February 3, 20X9, January 28, 20X8, and January 29, 20X7, respectively.

Example 7.2: Change in Fiscal Year‐End In January 20X2, the Board of Directors of the Company approved a change in the Company's fiscal year from that of a calendar year‐end beginning on January 1 and ending on December 31 of each year to a fiscal year beginning on July 1 of each year and ending on June 30 of the following calendar year. This change to the fiscal year reporting cycle began July 1, 20X2. As a result of the change, the Company had a six‐month transition period from January 1, 20X2 to June 30, 20X2 (the “transition period ended June 30, 20X18”). Accordingly, the Company is reporting its audited financial results as of and for the fiscal year ended June 30, 20X3, the transition period ended June 30, 20X2, and the calendar year ended December 31, 20X1, in this Annual Report.