årsregnskab

Årsregnskab is the Danish term for an annual financial statement. It is a formal record of a company's financial performance and position over a specific fiscal year. The årsregnskab is a crucial document for various stakeholders, including management, shareholders, creditors, and tax authorities.

The primary components of an årsregnskab typically include a balance sheet (balancen), an income statement (resultatopgørelsen), and a cash flow statement (pengestrømsopgørelsen). The balance sheet provides a snapshot of the company's assets, liabilities, and equity at a specific point in time. The income statement details the company's revenues, expenses, and net profit or loss over the reporting period. The cash flow statement tracks the movement of cash into and out of the company from its operating, investing, and financing activities.

In Denmark, the preparation and submission of an årsregnskab are regulated by the Årsregnskabsloven (Annual Accounts Act). The specific requirements for an årsregnskab can vary depending on the size and type of the company. Larger companies and publicly traded entities generally have more extensive reporting obligations. The årsregnskab must be prepared in accordance with generally accepted accounting principles (GAAP) and often requires an audit by an independent auditor. The document is typically filed with the Danish Business Authority (Erhvervsstyrelsen).