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Companies following a fiscal year must continue to meet the IRS deadlines for the calendar year. Some companies choose a fiscal year instead of a calendar year because their fiscal year is more in line with their natural economic cycle.S. government does. A fiscal year is essentially a 12-month period, adapted to your needs and used for accounting purposes. Another benefit of monitoring a fiscal year is the ability to save on accounting and auditing costs. A fiscal year is a fiscal year that, unlike a calendar year, does not necessarily end in December. What is a fiscal year? Sometimes it is worth following a different pattern. For example, a company may work with a fiscal year that starts in November. .