Tilinpäätösjaksossa

Tilinpäätösjaksossa is a Finnish term that translates roughly to "during the financial year" or "in the accounting period." It refers specifically to the time span for which a business or organization prepares its financial statements, including the balance sheet, income statement, and notes. In Finland, the definition of this period is governed by the Finnish Accounting Act and the Companies Act, which require that the tilinpäätösjaksossa start on the first day of the first month of the reporting period and end on the last day of the final month.

The choice of the tilinpäätösjaksossa can be synchronous with the calendar year, a 12‑month period, or a non‑calendar period of up to 12 months, depending on the entity’s preferences or regulatory requirements. Non‑calendar periods are commonly used by companies that align their reporting with their operational cycles, such as quarters or industry-specific calendars. However, the period must be clearly defined and consistently applied for full comparability across reporting periods.

During the tilinpäätösjaksossa, entities must collect, verify, and record all financial transactions. After the period ends, they must file the financial statements to the Finnish National Board of Audit and, if required, to the Finnish Tax Administration. Accurate determination of the tilinpäätösjaksossa is essential for compliance, audit readiness, and transparent financial reporting.