To many of us it is somewhat meaningless; a time to get your tax done and sent away, and maybe look more closely at any investments you might have.
Particularly, it seems, with regard to your superannuation investments which, according to a financial comment in a NSW daily only yesterday, were tipped to face a few hard times in the short term.
But I really wonder how many out there take the “financial year” into account when they plan their year?
Christmas and Easter are certainly in most people’s minds when it comes to planning. You know, the Chrissie presents, perhaps the holiday, and at Easter there’s the “bunny” and his goodies.
For the life of me I have found it quite difficult to chase up the history of the “financial year”, but I am advised it’s been in operation since at least 1903 and generally speaking operates around the world.
I did discover that one European – based company ORGA says that 1998 was its most successful financial year in the history of the organisation.
A year when ORGA expanded its global presence to embrace 11 countries and profit rose strongly with increased product sales.
All of which is pretty meaningless, but I suppose when you study it closer 1 July 2008 to 30 June 2009 isn’t a bad time for a financial year.
It certainly enables most people to relax at Christmas and not have to be worried too much about their financial situation.
And for big business, especially where high finance is involved, it’s breathing space for a re – assessment of their performance and they have time to prepare those ever colourful and costly annual reports to shareholders and the like.
You know, the ones with glossy photos of the Board of Directors and the senior management dominating the pages.
Busy time for accountants
The end of the financial year is, however, a hectic time work – wise for the accounting profession.
 It’s the time when they handle countless taxation returns for both businesses and the public alike.
Large or small it doesn’t seem to faze the profession at all.
It’s also a time when governments provide the odd gift to the people they represent. Like the $500, no strings attached, bonus given to old age pensioners recently.
Governments also tend to review their overall spending etc at this time, and sadly for most of Australia the end of the 2007 – 2008 financial year hasn’t been terribly satisfying.
Particularly for us New South Wales – ites, who have to put up with a chronically managed financial state of affairs.
Never mind, we can put it at the back of our minds and concentrate on the run home to the finals in the various football codes, and also realise that Christmas is only six months away! | 
