What Is October 1?

The Beginning of a New Fiscal Year

For many businesses and organizations, October 1 marks the start of a new fiscal year. This is the day when the company's financial records are reset and a new accounting period begins. The fiscal year is typically 12 months long, but it can vary depending on the company's needs.

The start of a new fiscal year is an important time for businesses to assess their financial performance and set goals for the upcoming year. It is also a time to make any necessary changes to the company's accounting system or financial policies.

International Coffee Day

October 1 is also celebrated as International Coffee Day. This day was first established in 2015 by the International Coffee Organization (ICO) to promote coffee consumption and raise awareness about the plight of coffee farmers around the world.

Coffee is one of the most popular beverages in the world, and it is estimated that over 2 billion cups of coffee are consumed every day. The ICO estimates that over 100 million people worldwide depend on coffee for their livelihoods.

Other Notable Events on October 1

• 1791: The first United States Mint opens in Philadelphia.
• 1890: Yosemite National Park is established.
• 1949: The People's Republic of China is founded.
• 1958: NASA is established.
• 1982: Sony releases the first compact disc player.