Fjárhagsliðir

Fjárhagsliðir is an Icelandic term that refers to the financial line items or entries that appear in an entity’s financial statements. The concept denotes the individual items that collectively show an organization’s financial position and performance.

In practice, fjárhagsliðir are typically organized into the main financial statements: the balance sheet and the income statement. On the balance sheet, items include assets, liabilities, and equity, often further categorized as current and non‑current. On the income statement, items include revenues, expenses, gains, and losses, with possible distinctions between operating and non‑operating elements. Some presentations also show items on the cash flow statement, such as cash from operating, investing, and financing activities. The precise naming and grouping of items are determined by applicable accounting standards and regulatory requirements.

Accounting standards used in Iceland generally align with international practices. Many larger or publicly listed companies prepare statements under IFRS, while smaller entities may follow national GAAP or local adaptations. Regardless of framework, fjárhagsliðir are intended to be clear, comparable, and auditable, enabling users to assess profitability, liquidity, solvency, and overall financial health.

The concept is used across sectors, including corporate, governmental, and public administration accounting. In addition to external reporting, fjárhagsliðir are important for internal budgeting and management decision‑making, as well as for investors, lenders, and analysts evaluating financial performance and position.