Tilinpäätöstään

Tilinpäätöstään refers to a company's financial statements, which are a formal record of its financial activities and position. In Finland, this term is commonly used to describe the annual financial reporting that businesses are required to produce. The primary components of tilinpäätöstään typically include the income statement, balance sheet, and cash flow statement.

The income statement, or tuloslaskelma, shows a company's revenues and expenses over a specific period, resulting in a net profit or loss. The balance sheet, or tase, provides a snapshot of a company's assets, liabilities, and equity at a particular point in time. The cash flow statement, or rahoituslaskelma, details the cash generated and used by a company during a period, categorized into operating, investing, and financing activities.

Preparing tilinpäätöstään is a legal requirement for most companies operating in Finland. It serves several crucial purposes. For external stakeholders, such as investors, creditors, and tax authorities, it provides essential information to assess the company's financial health, performance, and solvency. Internally, management uses these statements for decision-making, performance evaluation, and strategic planning.

The preparation and presentation of tilinpäätöstään must adhere to Finnish accounting standards, which are largely harmonized with International Financial Reporting Standards (IFRS) for listed companies. Smaller companies may follow national accounting standards. Auditing by an independent auditor is often required for larger companies to ensure the accuracy and fairness of the financial information presented. The completed tilinpäätöstään is typically filed with the Finnish Patent and Registration Office (PRH).