Why to use Master Calendar or Financial Calendar?

[#1]

Hi everyone,I got information from this community about How to Create Master/Financial Calendar.But why we need it .Can anybody explain me in detail?

[#2]

hi kiran,

Since all the business transactions and planning are based on financial year wise that is why we have to refer the transaction date for which  financial year and the corresponding quarters month week etc.

Please find the attachment

[#3]

Thanks Vijay.