It is used by companies that desire that their fiscal year always end on the same day of the week.
It is a method of managing accounting periods. It is a common calendar structure for some industries, such as retail, manufacturing and parking industry.
For more information see: https://en.wikipedia.org/wiki/4-4-5_calendar
The year may either:
end on the last X day of the Y month.
end on the last X day closest to the last day of the Y month.
X is a specific day of the week. Y is a certain month of the year
A specific integer for the day of the week.
0 is Monday
1 is Tuesday
2 is Wednesday
3 is Thursday
4 is Friday
5 is Saturday
6 is Sunday.
The month in which the fiscal year ends.
Method of employing 4-4-5 calendar.
There are two options:
"nearest" means year end is weekday closest to last day of month in year.
"last" means year end is final weekday of the final month in fiscal year.
Describes 52-53 week fiscal year. This is also known as a 4-4-5 calendar.
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