What is Last Fiscal Year (LFY)?
Last fiscal year (LFY) refers to a company's most recent completed fiscal year.
How Does Last Fiscal Year (LFY) Work?
A fiscal year is a company's 12-month accounting cycle. The cycle begins on the first of any month (not necessarily January 1) and ends on the last day of the 12th month thereafter. A company's last fiscal year is the fiscal year that immediately preceded its current fiscal year.
For example, suppose Company ABC's fiscal year begins July 1, 2011, and ends June 30, 2012. As of September 15, 2011, Company ABC's last fiscal year would be the one that began July 1, 2010, and ended June 30, 2011.
Why Does Last Fiscal Year (LFY) Matter?
Analysts constantly refer to a firm's last fiscal year when measuring and tracking performance and reporting functions. The last fiscal year is the starting point for most analyses and forecasts for the current fiscal year.
- Create a retirement savings goal
- Design an investment plan to reach it.
- Get a professional money manager to continually monitor and rebalance your portfolio
Sound complicated? Don't stress. Vanguard's new robo advisor service can help you put all of this (and more!) on autopilot, all for an annual gross advisory fee of just 0.20%.
Click here to learn more about Vanguard's new Digital Advisor service.
