The choice of fiscal year-end in australia

Lu, M; Saune, N; Shan, Y

The choice of fiscal year-end in australia

Lu, M Saune, N Shan, Y

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Publication Type:: Journal Article
Citation:: Australian Accounting Review, 2013, 23 (3), pp. 244 - 251
Issue Date:: 2013-09-01

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Field	Value	Language
dc.contributor.author	Lu, M	en_US
dc.contributor.author	Saune, N	en_US
dc.contributor.author	Shan, Y https://orcid.org/0000-0003-2156-8722	en_US
dc.date.issued	2013-09-01	en_US
dc.identifier.citation	Australian Accounting Review, 2013, 23 (3), pp. 244 - 251	en_US
dc.identifier.issn	1035-6908	en_US
dc.identifier.uri	http://hdl.handle.net/10453/27736
dc.description.abstract	This study examines the heterogeneity of fiscal year-end choice in Australia. It documents substantial differences in the 'popularity' of balance sheet dates during 1989-2010, and an increasing preference of June year-ends in recent years. Eighty-one percent of Australian firms choose June to align with the mandatory tax period, followed by 13% for December and 6% for other months. The paper finds that industry membership plays an important role in the choice of fiscal year-ends, evidenced by a strong non-June effect for manufacturing, retail and financial service companies. Finally, it summarises four popular reasons for Australian firms changing fiscal year-ends, and finds that 26% of those firms did not disclose the change via a separate announcement on the Australian Securities Exchange in a timely manner. © 2013 CPA Australia.	en_US
dc.relation.ispartof	Australian Accounting Review	en_US
dc.relation.isbasedon	10.1111/auar.12023	en_US
dc.title	The choice of fiscal year-end in australia	en_US
dc.type	Journal Article
utslib.citation.volume	3	en_US
utslib.citation.volume	23	en_US
utslib.for	150103 Financial Accounting	en_US
utslib.for	1499 Other Economics	en_US
utslib.for	1501 Accounting, Auditing and Accountability	en_US
pubs.embargo.period	Not known	en_US
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Business
pubs.organisational-group	/University of Technology Sydney/Faculty of Business/Accounting Discipline
utslib.copyright.status	closed_access
pubs.issue	3	en_US
pubs.publication-status	Published	en_US
pubs.volume	23	en_US

Abstract:

This study examines the heterogeneity of fiscal year-end choice in Australia. It documents substantial differences in the 'popularity' of balance sheet dates during 1989-2010, and an increasing preference of June year-ends in recent years. Eighty-one percent of Australian firms choose June to align with the mandatory tax period, followed by 13% for December and 6% for other months. The paper finds that industry membership plays an important role in the choice of fiscal year-ends, evidenced by a strong non-June effect for manufacturing, retail and financial service companies. Finally, it summarises four popular reasons for Australian firms changing fiscal year-ends, and finds that 26% of those firms did not disclose the change via a separate announcement on the Australian Securities Exchange in a timely manner. © 2013 CPA Australia.

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http://hdl.handle.net/10453/27736