(b) Fiscal year means the calendar year or other period of 12 consecutive calendar months on the basis of which financial accounts are kept. Where a new fiscal year period is designated prior to the expiration of a previously established fiscal year, the resultant period of less than 12 consecutive calendar months and thereafter the newly established fiscal year shall in that order each constitute a fiscal year. A person or organization subject to the act for only a portion of his or its fiscal year shall consider such portion as the entire fiscal year.