It depends on how the data is setup and any additionnal knowledge you have about it. In Canada, companies can each have their own distinct fiscal year period and depending on their size they are forced, by law, to report data either on a monthly or yearly basis (there might be additionnal periodicity cases, I'm not working in the business survey department). Point being, depending on what you ought to do with your timeseries considering the FYE as the latest reported FYE date of a given year may or may not achieve the desired analysis. If my fiscal year is from sept01 to aug31 and that I report on a monthly or quarterly basis, the approach presented by Hai.Kuo would consider the FYE of my company to be on dec31 or so if it reports monthly or on november 30 for quarterly. Again, it is very possible that the way your data is setup, this solution is sufficient. I'm merely giving you a big warning not to draw conclusions too fast. Vincent
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