Tilinpäätöspäivä

Tilinpäätöspäivä refers to the end of a company's fiscal year, marking the conclusion of the accounting period for which financial statements are prepared. This date is crucial for financial reporting and legal compliance in Finland and many other countries.

Following the tilinpäätöspäivä, companies are required to compile their financial statements, which typically include the income statement, balance sheet, and cash flow statement. These documents provide a comprehensive overview of the company's financial performance and position during the preceding fiscal year. The preparation of these statements involves meticulous accounting practices to ensure accuracy and compliance with relevant accounting standards, such as Finnish Accounting Standards or IFRS.

The tilinpäätöspäivä also triggers a series of obligations for businesses. These include the auditing of financial statements by an independent auditor, if required by law or company bylaws, and the submission of the finalized financial statements to the Finnish Patent and Registration Office (PRH) within a specified timeframe. Furthermore, the financial results determined at the end of the fiscal year influence various business decisions, including dividend distribution, tax calculations, and strategic planning for the upcoming year. The specific date of the tilinpäätöspäivä can vary between companies, as long as it aligns with the legal framework for fiscal years.