A fiscal period is a specific time frame used by businesses and organizations to track their financial performance. This period can be a month, a quarter, or a year, depending on the company's needs. During this time, companies prepare financial statements, such as the income statement and balance sheet, to assess their profitability and financial health. At the end of each fiscal period, businesses analyze their results to make informed decisions for the future. This analysis helps them understand trends, manage budgets, and plan for growth. By consistently reviewing their performance, companies can adapt to changes in the market and improve their overall operations.