Starting this month, Zayo is changing all operational reporting from Calendar Year (CY) to Fiscal Year (FY). This means that the accountants have finally won and the rest of us need to learn accounting speak.
Fiscal Year (FY) = Accounting year, i.e. when the books for the year are opened and closed. This can correspond to the Calendar Year (CY), but in Zayo’s case we’ve opted for a Fiscal Year that starts in July and runs through June.
Fiscal Year 2009: July 1, 2008 - June 30, 2009
1st Quarter 2009 (FY 1Q09) : July 1, 2008 - September 30, 2008
2nd Quarter 2009 (FY2Q09): October 1, 2008 - December 31, 2008
3nd Quarter 2009 (FY3Q09): January 1, 2009 - March 31, 2009
4th Quarter 2009 (FY4Q09): April 1, 2009 - June 30, 2009
Fiscal Year 2010: July 1, 2009 - June 30, 2010
1st Quarter 2010 (FY 1Q10) : July 1, 2009 - September 30, 2009
2nd Quarter 2010 (FY2Q10): October 1, 2009 - December 31, 2009
3nd Quarter 2010 (FY3Q10): January 1, 2010 - March 31, 2010
4th Quarter 2010 (FY4Q10): April 1, 2010 - June 30, 2010
In the next few weeks, when the management team tells you how you performed for FY 3Q09 bonus, don’t look at them like they are crazy. They are talking about your bonus for January 1, 2009 through March 31, 2009.
We realize that at first reporting Fiscal Year can be confusing, but ultimately having everyone use the same lexicon across the company will eliminate errors due to communication. Shoot me an email if you have any questions - smays@zayo.com.
If you liked my post, feel free to subscribe to my rss feeds
BlogoSquare
2 Comments so far (Add 1 more)