IFRStilinpäätösstandardit

IFRStilinpäätö is a Finnish term referring to financial statements prepared in accordance with International Financial Reporting Standards (IFRS). These standards are issued by the International Accounting Standards Board (IASB) and are designed to provide a common global language for business affairs so that company accounts are understandable and comparable across different countries. Adoption of IFRS aims to increase transparency and comparability in financial reporting, facilitating investment and trade.

Companies listed on stock exchanges in many countries, including Finland, are generally required to prepare their consolidated financial statements in accordance with IFRS. However, individual companies within a group or smaller entities may be permitted or required to use local accounting standards. The IFRS framework includes a set of specific accounting standards covering various aspects of financial reporting, such as revenue recognition, leases, financial instruments, and business combinations.

The preparation of IFRS financial statements involves detailed disclosures and specific measurement and recognition principles. This ensures that users of the financial statements, such as investors, creditors, and other stakeholders, have access to reliable and relevant information for decision-making. Changes to IFRS standards are regularly issued, requiring companies to stay updated and adapt their accounting practices accordingly.