Totally impractical even if it sounds good.
Reality is that the financial accounts for a club usually take a minimum of 3 months and more like 4/5 months to prepare AFTER the year end..
To give an example, Spurs have a year end of 30 June (overing the previous season running from mid August to mid May), so Spurs audited accounts are available probably end October/start of November, and these days have to be given to PL by end December plus any comments (eg separating out youth football, womens football, stadium costs etc) to enable certain costs to be adjusted in any FFP calculation.
PL in turn, will probably take a minimum of a month to review all 20 sets of PL club accounts, to decide which clubs have over spent and require some form of punishment....... hence we are now into February or so and the FFP discussions with clubs are underway.
Of course if you are ManCity (or certain other clubs) contesting any FFP assessment (especially those employing high priced lawyers checking every comma in the regulations to find a way around them), the assessment can take for ever.
But to take a straightforward example Forest KNEW they were breaking the FFP rules but HOPING they could get leniency by saying 'we sold a player 2 months after the end of the ffp period to get maximum price, but can we alter the facts to include part of his sale last year'
FFP Assessment - No back dating allowed. 6 points penalty but thanks for being straightforward with us, so we'll take 2 points off to make it a 4 point penalty.
The job of all clubs at the start of a season is to get as many points as possible. So FFP or not nothing changes, just try to get as many points as possible.