Tilinpäätöksillä

Tilinpäätös, often translated as financial statements or year-end accounts, refers to a set of accounting reports that summarize a company's financial performance and position over a specific period, typically a fiscal year. In Finland, where the term is commonly used, it is a mandatory requirement for most businesses. The primary components of a tilinpäätös include the income statement (tuloslaskelma), which details revenues and expenses to arrive at net profit or loss, and the balance sheet (tase), which presents a snapshot of the company's assets, liabilities, and equity at a particular point in time. Additionally, the cash flow statement (rahoituslaskelma) tracks the movement of cash in and out of the company, and the notes to the financial statements (liitetiedot) provide further explanation and detail on the figures presented. These documents are crucial for various stakeholders, including management for decision-making, investors for assessing profitability and risk, creditors for evaluating creditworthiness, and tax authorities for determining tax obligations. The preparation of a tilinpäätös follows established accounting principles and standards, ensuring consistency and comparability.