Business finance: The ultimate guide for non-finance people
BMT Office Administration
JUNE 26, 2023
A fiscal year simply represents the 12-month period that a business uses for its accounting, taxes, and budgeting purposes. It also depends on the health of the economy, as banks are less willing to give out business loans during recessions. If you have to pay back the loan for more than a year, it’s a long-term liability.
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