Reikningsskýrsla

Reikningsskýrsla is an Icelandic term that translates to "account statement" or "financial report." It generally refers to a document that summarizes an individual's or a company's financial transactions and balances over a specific period. These reports are crucial for financial tracking, auditing, and understanding economic activity.

For individuals, a reikningsskýrsla might be issued by a bank, credit card company, or other financial institution. It details deposits, withdrawals, payments made, and the resulting balance. These statements help individuals monitor their spending, manage their budgets, and identify any discrepancies.

For businesses, a reikningsskýrsla can take various forms, such as a profit and loss statement, balance sheet, or cash flow statement. These comprehensive financial reports are essential for internal management, external reporting to stakeholders like investors and creditors, and for tax purposes. They provide insights into the profitability, solvency, and financial health of the organization. The preparation and accuracy of reikningsskýrsla are often subject to regulatory oversight and accounting standards to ensure transparency and reliability.