Calendar Year

Business, Legal & Accounting Glossary

Definition: Calendar Year



Full Definition of Calendar Year


Calendar year defines the year as designated by the Gregorian calendar in common use as beginning on January 1st and ending on December 31 of that same year. For example, the calendar year 2006 begins on January 1, 2006, and ends at the stroke of midnight on December 31, 2006. A calendar year contains 365 days except in leap years when a calendar year has 366 days. The calendar year is a universal 12-month period as opposed to a fiscal year where the 12-month period is determined by an industry or corporation for purposes of accounting. Individuals are required to use a calendar year when filing claims with the IRS. The calendar year as described above is used for all international business.


Cite Term


To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
https://payrollheaven.com/define/calendar-year/
Modern Language Association (MLA):
Calendar Year. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. July 05, 2020 https://payrollheaven.com/define/calendar-year/.
Chicago Manual of Style (CMS):
Calendar Year. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/calendar-year/ (accessed: July 05, 2020).
American Psychological Association (APA):
Calendar Year. PayrollHeaven.com. Retrieved July 05, 2020, from PayrollHeaven.com website: https://payrollheaven.com/define/calendar-year/

Definition Sources


Definitions for Calendar Year are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 4th February, 2020 | 0 Views.