Canadian Governments Fiscal Year

Canadian Government's Fiscal Year If youve ever dealt with publicly-traded companies or government entities, you know that they keep a different calendar for things such as quarterly earnings and budget  reporting. In most cases (but not all), the fiscal year calendar they follow isnt the standard January 1 through December 31. For the purposes of bookkeeping and financial reporting, companies and governments in most countries follow whats known as a fiscal year. Simply put, a fiscal year is the financial year of an organization for accounting purposes. Its a 52-week period that doesnt end on Dec. 31. The fiscal year for most American companies, especially those listed on a public stock exchange, is typically July 1 to June 30.   The calendar a company or organization follows is what determines how its taxes and expenditures are calculated by taxing bodies such as the Internal Revenue Service in the U.S. or the Canada Revenue Agency in Canada.   Canadas Fiscal Year The fiscal year of the Canadian federal government and the countrys provincial and territory governments is April 1 to March 31, just like most other British commonwealths (and Britain itself). This is different than the tax year for Canadian citizens, however, which is the standard January 1 to December 31 calendar year. So if youre paying personal income taxes in Canada, youll follow the calendar year. There are some circumstances under which a Canadian business may request a change to its fiscal year calendar. This requires a written appeal to the Canada Revenue Service, and it cant be done just to get a particular tax advantage or for reasons of convenience. If youre seeking a change to your fiscal year, be prepared to explain why to the CRA. Heres an example of a potentially valid reason for changing a companys fiscal year: Joes Swimming Pool Supply and Repair Company operates 12 months out of the year, but he sells fewer swimming pools and does fewer maintenance calls in the winter than in the spring and summer. For Joe, it makes fiscal sense for him to operate on a fiscal year calendar that more closely aligns with the natural cycle of the business. Reasons for a Fiscal Year Calendar For companies that are legally required to have their financial returns audited, it may be more cost-effective to hire auditors and accountants at a slower time of year, when tax preparers are in lower demand. Thats not the only reason to follow an alternate calendar. For school districts, following a fiscal year that closely matches the school year (July 1 to June 30, for example) makes more sense than a calendar year that ends when the school year is barely half over. Retail businesses that see most of their revenue come in the form of holiday gift purchases may opt to include December and January in the same quarter for revenue reporting purposes, rather than letting December skew the entire years financial results.

English Writing Dictations for Beginning Learners

English Writing Dictations for Beginning Learners English dictation provides writing practice for English-language learners. Listen to the phrases via the links in this article, then take a piece of paper, or use a writing program on your computer. Write or type what you hear. Listen as many times as necessary. Dictation helps your spelling, listening and understanding skills. Each of the following dictations focuses on a specific learning point. The dictations are for beginning-level learners and include five sentences in each dictation. Each sentence is read twice, giving you time to write what you hear. At a Hotel This  dictation link  will give you a chance to hear- and write- comon phrases used at hotels, such as: Can I make a reservation please? and Id like a double room with a shower. and Do you have any rooms available? Remember that you can hit the pause button to give yourself more time to write your answer. Introductions This section includes  simple sentences  like, Hello, my name is John. Im from New York. and English is a difficult language. As you know from your studies, this is certainly a very accurate statement. At a Government Agency These  dictation sentences  cover phrases youll find useful at a government agency- such as at a motor vehicles or Social Security office. The sentences cover topics such as filling out forms and standing in the correct line. Knowing the sentences on this topic can save you hours of potential aggravation. At the Restaurant These  dictation sentences  cover common phrases used in a restaurant, such as What would you like to have? and Id like a hamburger and a cup of coffee. If youre up for more practice on eatery terms, youll find them in these extra  practice phrases. Present, Past and Comparisons In English, the present and past tense can take many grammatical forms, involving an array of confusing terms. You can memorize the grammatical forms, but its often easier to listen to a native speaker dictate phrases and sentences involving present and past tense events. Making comparisons can also be a difficult concept. Use the following links to practice such sentences as: I started work in October last year and Peter is playing the piano at the moment. Now- sentences that describe things happening at the momentPast events- sentences with the simple past tense to describe things that happened in the pastComparisons- sentences comparing two things or people Other Topics The more practice you can get listening to and  writing  American-English phrases the better. Buying or choosing  clothing, describing habits, giving directions, and even buying souvenirs can be difficult unless you know a few basic phrases that cover these issues. To help you, these practice dictation sentences cover topics including: Clothing- common phrases related to shopping for clothesHabits- sentences that express daily habits and routinesMy town- phrases regarding your communityWork- sentences about daily routines at workDirections- common phrases used when asking for and giving directionsQuestions- a variety of simple questions in different tensesSouvenirs- common phrases used when shopping for souvenirs