Editing Year (section)

== Pragmatic divisions ==
Financial and scientific calculations often use a [[365-day calendar]] to simplify daily rates.

=== Fiscal year ===
{{main|Fiscal 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, in [[Canada]] and [[India]] the fiscal year runs from April 1; in the [[United Kingdom]] it runs from April 1 for purposes of corporation tax and government financial statements, but from April 6 for purposes of personal taxation and payment of state benefits; in [[Australia]] it runs from July 1; while in the [[United States]] the fiscal year of the [[Federal government of the United States|federal government]] runs from October 1.

=== Academic year ===
{{main|Academic year}}
An academic year is the annual period during which a student attends an [[educational institution]]. The academic year may be divided into [[academic term]]s, such as semesters or quarters. The school year in many countries starts in August or September and ends in May, June or July. In Israel the academic year begins around October or November, aligned with the second month of the Hebrew calendar.

Some schools in the UK, Canada and the United States divide the academic year into ''three'' roughly equal-length terms (called ''trimesters'' or ''quarters'' in the United States), roughly coinciding with autumn, winter, and spring. At some, a shortened summer session, sometimes considered part of the regular academic year, is attended by students on a voluntary or elective basis. Other schools break the year into ''two'' main semesters, a first (typically August through December) and a second semester (January through May). Each of these main semesters may be split in half by mid-term exams, and each of the halves is referred to as a ''quarter'' (or ''term'' in some countries). There may also be a voluntary summer session or a short January session.

Some other schools, including some in the United States, have ''four'' marking periods. Some schools in the United States, notably [[Boston Latin School]], may divide the year into ''five or more'' marking periods. Some state in defense of this that there is perhaps a [[positive correlation]] between report frequency and academic achievement.

There are typically 180 days of teaching each year in schools in the US, excluding weekends and breaks, while there are 190 days for pupils in state schools in Canada, New Zealand and the United Kingdom, and 200 for pupils in Australia.

In India the academic year normally starts from June 1 and ends on May 31. Though schools start closing from mid-March, the actual academic closure is on May 31 and in Nepal it starts from July 15.{{citation needed|date=June 2010}}

Schools and universities in Australia typically have academic years that roughly align with the calendar year (i.e., starting in February or March and ending in October to December), as the southern hemisphere experiences summer from December to February.