Have you checked if your fiscal year starts on January 1st? This is a settings in the preferences.
You can also try to reindex your database, I have tried to reproduce your problem here unsuccessfully... It is quite weird actually :-/
In the coming months we will add new reports to iCash.
Ok, I was able to reproduce the problem here very easily, your explanations were very clear and as a result the problem has been fixed. The fix will be part of next v7.5.2 expected to be released quite soon.