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The period of the Earth's revolution around the Sun. This period can be measured in several ways.
The most commonly used type of year, known as the tropical year, is the mean period for the Sun to go around the sky from one vernal equinox to the next. The tropical year varies slightly over time. Tropical year 2000 was approximately 365.242190 mean solar days, or 365 d 5 h 48 m 45.2 s. Seasons repeat with intervals of a tropical year.
The sidereal year is the average period of the Earth's revolution around the Sun until the Earth-Sun line returns to the same direction in space as measured by the star background. A sidereal year is approximately 365.25636 mean solar days long, or 365 d 6 h 9 m 10 s.
The anomalistic year is the average period of the Earth's return to perihelion in its orbit around the Sun. An anomalistic year is approximately 365.25964 days, or 365 d 6 h 13 m 53 s.
An eclipse year is the duration between alternate eclipse seasons, measured as the interval between the Moon passing alternate nodes. An eclipse year lasts only 346.62005 days, or 346 d 14 h 52 m 52 s.
A Gaussian year, defined as the period derived from Kepler's law for 1 astronomical unit, is 365.25690 days, or 365 d 6 h 9 m 56 s. See also Astronomical unit; Kepler's laws.
The term “year” is also used for the period of the orbit of other planets, both inside the solar system and around other stars. For example, a Jupiter year is 5.2 Earth years long.
| Investment Dictionary: Year |
In taxation, year refers to the calendar year that runs from January 1st to December 31st. However, corporations can generally set the time period for which they report financial results to be different than the calendar year.
Investopedia Says:
For example, a business might have their fiscal year end in September.
| Real Estate Dictionary: Fiscal Year |
A continuous 12-month time interval used for financial reporting; the period starts on any date after January 1 and ends one year later.
Example: For agencies of the federal government, fiscal year 2005 refers to the time between October 1, 2004 and September 30, 2005.
| Accounting Dictionary: Fiscal Year |
1. Twelve consecutive months used by a business entity to account for and report on its business operations. Typically, businesses use a fiscal year ending December 31. However, many entities use the natural business year, referring to a year ending at the annual low point in business activity or at the end of a season. For example, governmental units often end their fiscal year on June 30.
2. In taxation, 12-month period ending other than December 31 (calendar year).
| Small Business Encyclopedia: Fiscal Year |
A fiscal year is any 52-week period used consistently by an organization for the purposes of financial reporting and policy setting. It may or may not correspond with the typical calendar year of January to December. A company may choose to designate a different time period as its fiscal year as a way of recognizing seasonal variations in its business, as a method of minimizing its tax burden, or for any number of other reasons.
Fiscal years are used by companies as the basis on which to report financial information. To be useful, information must reach decision makers frequently and promptly. To provide this timely information, accounting systems are designed to produce periodic reports at regular intervals. As a result, the accounting process is based on the time period principle.
According to this principle, an organization's activities are identified with specific time periods, such as a month, a three-month quarter, or a year. Then, financial statements are prepared for each reporting period. The time periods covered by the reports are called accounting periods. Most organizations use one year as their primary accounting period and prepare annual financial statements. However, nearly all organizations also prepare interim financial reports that cover one or three months of activity.
How Fiscal Year Periods Are Determined
The annual reporting period or company's fiscal year is not always the same as the calendar year ending December 31. In fact, an organization can adopt a fiscal year consisting of any 12 consecutive months. An acceptable variation of this rule is to adopt an annual reporting period of 52 weeks.
Companies that do not experience much seasonal variation in sales volume within the year often choose the calendar year as their fiscal year. On the other hand, companies that experience major seasonal variations in sales often choose a fiscal year that corresponds to their natural business year. The natural business year ends when sales activities are at their lowest point during the year. For example, the natural business year for retail merchants ends around January 31, after the Christmas holidays and the January pre-inventory selling seasons. As a result, retailers often start their annual accounting periods on February 1 of each year.
The federal budget of the U.S. Government extends from October 1, 2000, to September 30, 2001. This period encompasses the government's fiscal year. In another example, the State of Texas has designated a fiscal year that extends from September 1, 2000, through August 31, 2001. Texas uses this fiscal year for financial reporting and for establishing basic policies, such as those setting the base fares for travel on state business.
Further Reading:
Larson, Kermit D. Fundamental Accounting Principles. McGraw-Hill, 1997.
| Law Dictionary: Fiscal Year |
Any twelve-month period used by government or business as its fiscal accounting period. 291 A. 2d 336, 337. Such accounting period, may, for example, run from July 1 of one year through June 30 of the next year. See taxable year [
| Economics Dictionary: fiscal year |
A twelve-month period for which an organization, such as a government or corporation, plans the use of its funds. Commonly, fiscal years run from July 1 to June 30, or, in the case of the U.S. government, from October 1 to September 30.
| Wikipedia: Year |
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| Look up year in Wiktionary, the free dictionary. |
A year (from Old English ȝēr; symbol a or sometimes y) is the amount of time it takes the Earth to make one revolution around the Sun. By extension, this can be applied to any planet: for example, a "Martian year" is the time in which Mars completes its own orbit.
Although there is no universally accepted symbol for the year, NIST SP811[1] and ISO 80000-3:2006[2] suggest the symbol a in the International System of Units. (Although a is also the symbol for the are unit of area, context is usually enough to disambiguate.) In English, the deprecated abbreviations kyr, Myr, Gyr (for kiloyear, megayear and gigayear) are still used informally when denoting intervals of time remote from the present.[3][4][5]
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West Saxon ȝear, Anglian ȝēr continues Proto-Germanic *jǣram (*jē2ram). Cognates are Old High German jar, Old Norse ár and Gothic jer, all from a PIE *yērom "year, season". Cognates outside of Germanic are Avestan yare "year", Greek ὥρα "year, season, period of time" (whence "hour"), Old Church Slavonic jaru and Latin hornus "of this year".
Latin annum is from a base *at-no-. Both *yē-ro- and *at-no- are based on verbal roots expressing movement, *at- and *ey- respectively, both meaning "to go" generally. Latin annum has a cognate in Gothic aþnam "year". The Greek word for "year", ἔτος, is cognate to Latin vetus "old", from PIE *wetus- "year" , also preserved in this meaning in Sanskrit vat-sa- "yearling (calf)".
A calendar year is the time between two dates with the same name in a calendar.
The Gregorian calendar attempts to keep the vernal equinox on or soon before March 21; hence it follows the vernal equinox year. The average length of this calendar's year is 365.2425 mean solar days (which can be thought of as 97 out of 400 years being leap years) whereas the vernal equinox year is 365.2424 days.
The Persian calendar is one of the most precise, among solar calendars in wide use today. Rather than being based on numerical rules, the Persian year begins on the day (for the time zone of Tehran) on which the vernal equinox actually falls, as determined by precise astronomical computations. The Persian Calendar is in use in Afghanistan and Iran.
No astronomical year has an integer number of days or lunar months, so any calendar that follows an astronomical year must have a system of intercalation such as leap years.
In the Julian calendar, the average length of a year was 365.25 days. In a non-leap year, there are 365 days, in a leap year there are 366 days. A leap year occurs every 4 years.
A half year (one half of a year) may run from January to June or July to December.
A seasonal year is the time between successive recurrences of a seasonal event such as the flooding of a river, the migration of a species of bird, the flowering of a species of plant, the first frost, or the first scheduled game of a certain sport. All of these events can have wide variations of more than a month from year to year.
A fiscal year or financial year is a 12-month period used for calculating annual financial statements in businesses and other organizations. In many jurisdictions, regulations regarding accounting require such reports once per twelve months, but do not require that the twelve months constitute a calendar year. For example, the federal government of the U.S. has a fiscal year that starts on October 1st instead of January 1. In the United Kingdom and Canada, the financial year runs from April 6 and April 1 respectively, and in Australia it runs from July 1.
An academic year refers to the annual period during which a student attends school, college or university.
The school year can be divided up in various ways, two of which are most common in North American educational systems.
The Julian year, as used in astronomy and other sciences, is a time unit defined as exactly 365.25 days. This is the normal meaning of the unit "year" (symbol "a" from the Latin annus) used in various scientific contexts. The Julian century of 36525 days and the Julian millennium of 365250 days are used in astronomical calculations. Fundamentally, expressing a time interval in Julian years is a way to precisely specify how many days (not how many "real" years), for long time intervals where stating the number of days would be unwieldy and unintuitive. By convention, the Julian year is used in the computation of the distance covered by a light-year.
In the Unified Code for Units of Measure, the symbol a (without subscript) always refers to the Julian year aj of exactly 31557600 seconds.
365.25 days of 86400 seconds = 1 a = 1 aj = 31.5576 Ms
The SI multiplier prefixes may be applied to it to form ka (kiloannum), Ma (megaannum) etc.
Each of these three years can be loosely called an 'astronomical year'.
The sidereal year is the time taken for the Earth to complete one revolution of its orbit, as measured against a fixed frame of reference (such as the fixed stars, Latin sidera, singular sidus). Its duration in SI days of 86,400 SI seconds each is on average:
The tropical year is the time taken for the Earth to complete one revolution with respect to the framework provided by the intersection of the ecliptic (the plane of the orbit of the Earth) and the plane of the equator (the plane perpendicular to the rotation axis of the Earth). The exact length of a tropical year slightly depends on the chosen starting point: for example the vernal equinox year is the time between successive vernal equinoxes. The mean tropical year (averaged over all ecliptic points) is:
The tropical year is shorter than the sidereal year because of the precession of the equinoxes.
The anomalistic year is the time taken for the Earth to complete one revolution with respect to its apsides. The orbit of the Earth is elliptical; the extreme points, called apsides, are the perihelion, where the Earth is closest to the Sun (January 3 in 2010), and the aphelion, where the Earth is farthest from the Sun (July 6 in 2010). The anomalistic year is usually defined as the time between two successive perihelion passages. Its average duration is:
The anomalistic year is slightly longer than the sidereal year because of the precession of the apsides (or anomalistic precession).
The draconic year, draconitic year, eclipse year, or ecliptic year is the time taken for the Sun (as seen from the Earth) to complete one revolution with respect to the same lunar node (a point where the Moon's orbit intersects the ecliptic). This period is associated with eclipses: these occur only when both the Sun and the Moon are near these nodes; so eclipses occur within about a month of every half eclipse year. Hence there are two eclipse seasons every eclipse year. The average duration of the eclipse year is:
This term is sometimes erroneously used to designate the draconic or nodal period of lunar precession, that is the time it takes for a complete revolution of the Moon's ascending node around the ecliptic: 18.612 815 932 Julian years (6798.331 019 days; at the epoch J2000.0).
The full moon cycle is the time for the Sun (as seen from the Earth) to complete one revolution with respect to the perigee of the Moon's orbit. This period is associated with the apparent size of the full moon, and also with the varying duration of the synodic month. The duration of one full moon cycle is:
The lunar year comprises twelve full cycles of the phases of the Moon, as seen from Earth. It has a duration of approximately 354.37 days.
A heliacal year is the interval between the heliacal risings of a star. It differs from the sidereal year for stars away from the ecliptic due mainly to the precession of the equinoxes (To visualise: the constellation Crux which rose and set as seen from the Mediterranean in ancient Greek times, is never above the horizon in current times.)
The Sothic year is the interval between heliacal risings of the star Sirius. Its duration is very close to the mean Julian year of 365.25 days.
The Gaussian year is the sidereal year for a planet of negligible mass (relative to the Sun) and unperturbed by other planets that is governed by the Gaussian gravitational constant. Such a planet would be slightly closer to the Sun than Earth's mean distance. Its length is:
The Besselian year is a tropical year that starts when the (fictitious) mean Sun reaches an ecliptic longitude of 280°. This is currently on or close to 1 January. It is named after the 19th century German astronomer and mathematician Friedrich Bessel. An approximate formula to compute the current time in Besselian years from the Julian day is:
The Great year, Platonic year, or Equinoctial cycle corresponds to a complete revolution of the equinoxes around the ecliptic. Its length is about 25,700 years, and cannot be determined precisely as the precession speed is variable.
The Galactic year is the time it takes Earth's solar system to revolve once around the galactic center. It comprises roughly 226 million Earth years.
The exact length of an astronomical year changes over time. The main sources of this change are:
An average Gregorian year is 365.2425 days = 52.1775 weeks, 8,765.82 hours = 525,949.2 minutes = 31,556,952 seconds (mean solar, not SI).
A common year is 365 days = 8,760 hours = 525,600 minutes = 31,536,000 seconds.
A leap year is 366 days = 8,784 hours = 527,040 minutes = 31,622,400 seconds.
The 400-year cycle of the Gregorian calendar has 146,097 days and hence exactly 20,871 weeks.
See also numerical facts about the Gregorian calendar.
A calendar era is used to assign a number to individual years, using a reference point in the past as the beginning of the era. In many countries, the most common era is from the estimated date of the birth of Jesus Christ; dates in this era are designated anno Domini ("in the year of the Lord", abbreviated A.D.) or, more neutrally, C.E. (common era). Other eras are also used to enumerate the years in different cultural, religious or scientific contexts.
, where M is the mass of the primary.
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