Hyvitysnota

Hyvitysnota, also known as a "balance sheet" in English, is a fundamental financial statement used by businesses, organizations, and individuals to summarize their financial position at a specific point in time. The term originates from Finnish, where *hyvitys* means "adjustment" or "compensation," and *nota* refers to a note or record. In Finnish accounting, the balance sheet provides a snapshot of assets, liabilities, and equity, ensuring that the equation *Assets = Liabilities + Equity* holds true.

The balance sheet is divided into two primary sections: the left side lists assets, which include tangible items like property and cash, as well as intangible assets such as patents and goodwill. The right side details liabilities, representing obligations like loans and unpaid bills, alongside shareholders' equity, reflecting the residual claim on assets after liabilities are settled. This structure allows stakeholders to assess financial health, liquidity, and solvency.

In Finnish business practice, the hyvitysnota is a legally required component of annual financial reports for corporations, alongside the income statement and cash flow statement. It serves as a tool for internal management and external analysis, including by investors, creditors, and regulatory bodies. Variations in accounting standards, such as those set by the Finnish Accounting Standards Board (FAS), may influence the presentation and classification of items on the balance sheet.

For individuals, a simplified hyvitysnota can track personal assets, debts, and net worth. This practice is particularly useful in financial planning and risk assessment. While the term is most commonly used in Finnish-speaking regions, its underlying concept is widely recognized in global accounting frameworks.