PY
Abbreviation with 2 meanings
| Stands for | Paraguay |
|---|---|
| Meanings | 2 |
| Categories | Geography & Places, Business & Finance |
PY has two meanings. It stands for Paraguay (country code) or Prior year (accounting).
Meanings of PY at a glance
| # | PY stands for | Context |
|---|---|---|
| 1 | Paraguay | Geography & Places › Country Code |
| 2 | Prior year | Business & Finance › Accounting |
1. Paraguay
Geography & Places · Country Code Abbreviations
Paraguay, capital Asunción, alpha-3 PRY, is a landlocked South American country where most people speak Guaraní, an official language alongside Spanish. The Itaipú Dam, shared with Brazil, is one of the world's largest hydroelectric plants.
Example: Soybean exports from PY travel by barge down the Paraná River.
Sports bodies use PAR. Programmers know .py as the Python file extension, unrelated to Paraguay. The guaraní is also the name of the currency (PYG).
2. Prior year
Business & Finance · Accounting Abbreviations
Previous fiscal or reporting year, used in financial statements, audit working papers and variance analysis to compare current results with the year before. Comparative columns in annual reports show PY figures alongside current-year figures.
Example: Travel spend is 12 percent below PY because two industry conferences were canceled.
Auditors pair CY (current year) and PY in workpapers. A "PY adjustment" corrects an error from the prior period and may require restating comparatives. For employee benefit plans, PY can instead mean "plan year."
Related abbreviations
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