<P> For example, in Canada and India the fiscal year runs from April 1; in the United Kingdom it runs from April 1 for purposes of corporation tax and government financial statements, but from April 6 for purposes of personal taxation and payment of state benefits; in Australia it runs from July 1; while in the United States the fiscal year of the federal government runs from October 1 . </P> <P> An academic year is the annual period during which a student attends an educational institution . The academic year may be divided into academic terms, such as semesters or quarters . The school year in many countries starts in August or September and ends in May, June or July . In Israel the academic year begins around October or November, aligned with the second month of the Hebrew Calendar . </P> <P> Some schools in the UK and USA divide the academic year into three roughly equal - length terms (called trimesters or quarters in the USA), roughly coinciding with autumn, winter, and spring . At some, a shortened summer session, sometimes considered part of the regular academic year, is attended by students on a voluntary or elective basis . Other schools break the year into two main semesters, a first (typically August through December) and a second semester (January through May). Each of these main semesters may be split in half by mid-term exams, and each of the halves is referred to as a quarter (or term in some countries). There may also be a voluntary summer session and / or a short January session . </P> <P> Some other schools, including some in the United States, have four marking periods . Some schools in the United States, notably Boston Latin School, may divide the year into five or more marking periods . Some state in defense of this that there is perhaps a positive correlation between report frequency and academic achievement . </P>

Who figured out how many days in a year