Tilinpäätöksin

Tilinpäätöksin is a Finnish term that translates to "financial statements" or "annual accounts" in English. It refers to the formal reporting of a company's financial performance and position over a specific period, typically a fiscal year. The primary purpose of financial statements is to provide users, such as shareholders, creditors, and management, with relevant information to make informed decisions.

The core components of a company's tilinpäätöksin generally include the income statement (tulostus), which shows revenues and expenses over a period, and the balance sheet (tase), which presents assets, liabilities, and equity at a specific point in time. Often, a cash flow statement (rahavirtalaskelma) is also included, detailing the movement of cash in and out of the business.

In Finland, the preparation and submission of tilinpäätöksin are regulated by law, primarily the Finnish Accounting Act. Companies are required to present their financial statements in accordance with generally accepted accounting principles. These statements are crucial for tax calculations, as well as for assessing a company's profitability, solvency, and overall financial health. Auditing of the financial statements is also a common practice for many companies to ensure accuracy and compliance. The information contained within tilinpäätöksin is vital for transparency and accountability within the business world.