Fiscal Year 2024 Meaning. What is a fiscal year (fy)? A fiscal year is an accounting period of 365 days (or 366 during a leap year) that doesn’t necessarily correspond to the calendar year that.

For instance, a fiscal year that runs from april 1, 2023 to march 31, 2024 is called fy24. It’s used differently by the government and businesses, and does need to correspond to a calendar year.