Change Accounting Calendar from Fiscal to Calendar
We arre currently using a Fiscal Calendar with 12 periods that align with the beginning and ending dates of the calendar months. The Fiscal Year begins October 1st and ends September 31st. The company intends to change the Calendar to align with the calendar year beginning January 1st and ending December 31st. Finance believes that they can end this Fiscal Year on Sept. 31st, begin using another Fiscal calendar defined as starting Oct. 1st and ending Dec. 31st, and then begin using a new Calendar begining Jan. 1st and ending Dec. 31st.
The company would like to maintain the same Set of Books as they progress through the calendars, and once on the calendar year, continue to define the Accounting Calendar as a calendar year going forward.