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Regarding the time period and birthdays in K-On!(in manga, not anime):
Firstly, school year in Japan goes from April of one year to March of the coming year.
e.g. 2007-4 to 2008-3 is one school year.
Remember at the beginning of volume 3 those color pages chapter(wasn't serialized in the magazine) when Yui and the girls go to the shrine for New Years? You'll recall that Ritsu received New Years Greeting cards from the other girls. Azusa's, Yui's and Mio's cards all had cows on it, meaning they were welcoming 2009, the year of the Cow according to Chinese Zodiac. At this time they were 2nd years(They became 3rd years a few chapters later, where the anime Season 2 Episode 1 starts).
For a more concrete evidence, in the final graduation chapter in volume 4, after the girls left, Azusa was along in the club room looking at the photo album, specifically looking at a picture of Yui and the girls graduating. Under the picture it clearly says "March 2010".
What this adds up to is that,
Yui, Mio, Ritsu and Mugi entered the school in 2007 April (Incidentally, the manga started in the 2007 May issue, which was released also in 2007 April) when they were 15.
Azusa, Ui, Jun, entered the school in April 2008.
So the birthdays Japan Wikipedia listed, while not canon, does make sense:
Yui: 1991-11-27
Mio: 1992-1-15
Ritsu: 1991-8-21
Mugi: 1991-7-2
Azusa: 1992-11-11
Ui: 1993-2-22
Nodoka: 1991-12-26
Sawako: 1984-1-31
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