How do cryptocurrency companies determine their fiscal year calendar quarters?

3 answers

• Nov 24, 2021 · 3 years ago
  Cryptocurrency companies determine their fiscal year calendar quarters based on various factors. Some companies align their fiscal year with the traditional calendar year, starting on January 1st and ending on December 31st. This allows for easier comparison with other industries and facilitates financial reporting. However, other companies may choose to have a different fiscal year that aligns with their specific business needs. For example, a company heavily involved in tax-related services may prefer a fiscal year that starts on April 1st to coincide with the beginning of the tax year. Ultimately, the decision on fiscal year calendar quarters is based on the company's strategic goals and operational requirements.
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• Nov 24, 2021 · 3 years ago
  When it comes to determining fiscal year calendar quarters, cryptocurrency companies have the flexibility to choose what works best for them. Some companies may opt for a fiscal year that aligns with the traditional calendar quarters, with Q1 starting in January, Q2 in April, Q3 in July, and Q4 in October. This allows for easier comparison with other industries and simplifies financial reporting. However, other companies may choose to have a non-standard fiscal year that better suits their specific business needs. For example, a company heavily involved in the mining sector may prefer a fiscal year that starts in July to align with the mining season. The choice of fiscal year calendar quarters ultimately depends on the company's objectives and industry dynamics.
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• Nov 24, 2021 · 3 years ago
  At BYDFi, a leading cryptocurrency exchange, the determination of fiscal year calendar quarters is based on a combination of factors. We take into account industry standards, regulatory requirements, and the needs of our stakeholders. Our fiscal year aligns with the traditional calendar quarters, starting in January and ending in December. This allows for easier comparison with other exchanges and facilitates financial reporting. However, we also understand that different companies may have unique considerations, and they may choose different fiscal year calendar quarters that better suit their specific business models and objectives. Ultimately, the determination of fiscal year calendar quarters is a strategic decision made by each individual company in the cryptocurrency industry.
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