Finantskirja

Finantskirja is a term used in Icelandic to refer to a financial statement, typically an annual report that provides a comprehensive overview of a company's financial performance and position. The term is derived from the Icelandic words "finans" (finance) and "skírteini" (certificate), reflecting its role as a formal document that certifies a company's financial status.

In Iceland, finantskirja is a mandatory requirement for all companies, including those listed on the Icelandic Stock Exchange. It is prepared by the company's management and audited by an independent auditor to ensure its accuracy and reliability. The finantskirja typically includes several key sections, such as:

1. Balance sheet: A snapshot of the company's assets, liabilities, and equity at a specific point in time.

2. Income statement: A summary of the company's revenues, expenses, and net income over a specific period.

3. Cash flow statement: An analysis of the company's cash inflows and outflows during a specific period.

4. Management discussion and analysis: A narrative section that provides context and analysis of the company's financial results.

5. Notes to the financial statements: Additional information and explanations that support the financial statements.

The finantskirja is an essential tool for investors, creditors, and other stakeholders to assess a company's financial health and make informed decisions. It is typically published annually and made available to the public, often on the company's website or through other distribution channels. In Iceland, the finantskirja is also submitted to the Icelandic Financial Supervisory Authority (FME) for regulatory purposes.