For the financial year end date, the most common choice is the last day of the month before the company's incorporation month, so that it will be exactly 12 months by that day next year.

If it is a listed company, subsidiary, or there are other situations requiring financial compatibility, it is recommended to choose the last day of the calendar year (December 31), so that consolidated financial statements can be accommodated.

For example, companies in China cannot customize their financial year end date; they all use the last day of the calendar year. If a Singapore company is a subsidiary or affiliated company, the fiscal year date can be set to December 31 to facilitate annual audit accounts.