Wrong.
Custom fiscal year impacts forecasting, reports and quotas, and you can create a custom fiscal year from Setup > Company Settings > Fiscal Year.
You can’t go back to standard fiscal year after enabling custom fiscal year, but there is a workaround to follow gregorian calendar after enabling custom fiscal year : you can select the Fiscal Year Structure 12 Months/Year, Standard Gregorian Calendar
.
Link to Salesforce help : Fiscal Year
Right.
Custom fiscal year impacts forecasting, reports and quotas, and you can create a custom fiscal year from Setup > Company Settings > Fiscal Year.
You can’t go back to standard fiscal year after enabling custom fiscal year, but there is a workaround to follow gregorian calendar after enabling custom fiscal year : you can select the Fiscal Year Structure 12 Months/Year, Standard Gregorian Calendar
.
Link to Salesforce help : Fiscal Year