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How do Fiscal Years Work? What's it got to do with KSP2? Take a looksee!


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Posted (edited)

What Is a Fiscal Year (FY)?

A fiscal year is a one-year period that companies and governments use for financial reporting and budgeting. A fiscal year is most commonly used for accounting purposes to prepare financial statements. Although a fiscal year can start on Jan. 1 and end on Dec. 31, not all fiscal years correspond with the calendar year. For example, universities often begin and end their fiscal years according to the school year.

What does this have to do with KSP2?
For starters, T2's Fiscal Year 2022, as noted here, ended on March 31st 2022. (Making the Jan-March 2022 Timeframe Q4 FY 2022.)
https://www.businesswire.com/news/home/20220516005693/en/Take-Two-Interactive-Software-Inc.-Reports-Strong-Results-for-Fiscal-Year-2022

Quote

In addition, the Company provided its initial outlook on a standalone basis for its fiscal year 2023, ending March 31, 2023 and fiscal first quarter 2023, ending June 30, 2022.

This places us firmly in "Q1 FY2023" right now as I type this post. Meaning, that when you see the game slated for "Q4 FY2023" that is a Fiscal Year that is going to End by March 31st of the Calender Year of 2023. In short, their Fiscal Year is off by about 3 Months or so. On a side note, the Steam Update that showed the Date being 29DEC2023 is a place holder. That happens. I've personally set the launch dates for 3 games on steam, (Heliborne, Legends of Aethereus and Grumpy Witch) and that really is just that, a place holder date. 

The rampent speculation here isn't helping anyone, nor are the insults, attacks, and outright abuse thrown at the team for making a very very hard decision. I trust Nate, I trust this whole team to do right by what Harv, C7, Mu, Nova, Skunky, PDX and Me all started all those years ago. Remember, that there are also KSP1 Dev Team members working on KSP2 now, and I promise you that they want KSP2 to be the best it can be as well. 

I am asking for some paience and understanding is all, some temperance and a little bit of faith and good will. Pretty please?
Sincerely,
C. Rayne
Formerly KSP CM 0.8 to 0.20

Edited by RayneCloud
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39 minutes ago, RayneCloud said:

Fiscal Year that is going to End by March 31st of the Calender Year of 2023. In short, their Fiscal Year is off by about 3 Months or so.

It's off by 9 months - FY2023 ends 9 months earlier than Calendar Year 2023. Just a minor detail.

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12 minutes ago, The Aziz said:

It's off by 9 months - FY2023 ends 9 months earlier than Calendar Year 2023. Just a minor detail.

It's a corporate thing. Each corporate board has the ability to define it's own fiscal calendar. I worked for a non-profit agency ten years ago whose corporate calendar began on October 1st and ended September 30th. I work for a community college (a non-profit state college) where the fiscal year begins on August 1st and ends on July 31st.

It's just strange, but remember, in the corporate world, there's no "one size fits all" approach.

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18 minutes ago, The Aziz said:

It's off by 9 months - FY2023 ends 9 months earlier than Calendar Year 2023. Just a minor detail.

Not for T2 it's not, their Fiscal year is their own. FY's can change as @adsii1970said :) 

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Just now, The Aziz said:

I'm only reffering to that "off by 3 months" in the OP. Off from what?

Take 2 Interactive's Fiscal Year ends in March. Fiscal Year 2023 Ends March 31st 2023. People seeing that the game was pushed to "Q4 FY 2023" think that means the game will launch in Oct - Dec 2023 which is now how Fiscal Years work. When I say "Off By 3 Months" I mean, that T2's "Fiscal Reporting" for the "New Fiscal Year" Starts April 1st, meing their Fiscal year is "Off" by about 3 months compared to the Calender year.

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Precisely, that's why I said 9. FY2023 ends 3 months after Calendar 2023 begins. But like I said, minor detail. If we don't take specific number into account then yes, FY ends 3 months after calendar year.

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Posted (edited)

 

@RayneCloud It's a pedantic point, but @The Aziz is correct. Fiscal year 2023 ends 31st March 2023. Calendar year 2023 ends 31st December 2023, which is 9months later. So if you wanted to move the fiscal year to match the financial year, you'd have to move it 9months, and not the "3 months or so" stated in the OP.

 

Edited by WelshSteW
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Posted (edited)

Cool! I'm also talking about the start of the calender year in jan and the end of the fiscal year in march (which is 3 months apart) but please do go on correcting me and being pedantic. :)

Edited by RayneCloud
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  • 2 weeks later...
On 5/17/2022 at 11:41 AM, RayneCloud said:

...I'm also talking about the start of the calender year in jan and the end of the fiscal year in march...

I think this is what was being pointed out. Comparing the start of a calendar year to an end of a fiscal year, rather than comparing the start of a calendar year to the start of a fiscal year; or comparing the end of a calendar year to the end of a fiscal year. While some may consider it pedantic, I think @The Aziz was simply trying to add clarity to a topic that is obviously confusing for some people; hence the purpose of the OP. I don't personally think it is being pedantic when the purpose of the OP is trying to offer clarity to a topic of confusion; and I certainly wouldn't call @The Aziz first post pretentious or condescending. 

That is to say Take Two's Fiscal Year is "shifted forward" by 9 months such that the start of the fiscal year is 9 months earlier than the start of the corresponding calendar year.

Fiscal Year 2023: Starts April 1 2022 - Ends March 31 2023

Calendar 2023: Starts January 1 2023 - Ends December 31 2023

Fiscal Year 2024: Starts April 1 2023 - Ends March 31 2024

On 5/18/2022 at 3:57 PM, Alexoff said:

"Fiscal 2023 (console release planned for Fiscal 2024) "

Console versionplanned not later than 31Mar2024

While the quarterly earnings presentation shows console release planned for Fiscal 2024, the announcement thread would seem to read as being stated in the calendar year

Quote

...KSP 2, which will now launch in early 2023 on PC with our console release later that year.

As such I'd read this as PC launch should be expected sometime between January 1 2023 - March 31 2023; console version should be expected sometime between April 1 2023 - December 31 2023.

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