Tilinpäätösvalmisteluun

Tilinpäätösvalmisteluun, often translated as "financial statement preparation" or "year-end closing process," refers to the systematic set of activities undertaken by a company to gather, organize, and verify financial data for the purpose of producing its annual financial statements. This process is crucial for accurate financial reporting, compliance with legal and regulatory requirements, and providing stakeholders with a clear understanding of the company's financial performance and position.

The process typically begins after the accounting period has ended. It involves reviewing and reconciling all financial transactions, including sales, purchases, expenses, and asset movements. Key tasks include ensuring all invoices are accounted for, bank statements are reconciled, and any discrepancies are investigated and resolved. Accruals and prepayments are adjusted to reflect the correct accounting period. Inventory counts are performed and valued, and fixed assets are depreciated according to accounting policies.

Furthermore, tilinpäätösvalmisteluun includes the preparation of supporting schedules and analyses, such as accounts receivable and payable aging reports, and detailed breakdowns of expenses. Internal controls are often reviewed to ensure the integrity of the financial data. The final stage involves consolidating all the verified information into the draft financial statements, which typically include the balance sheet, income statement, cash flow statement, and notes to the financial statements. This preparation is essential before the financial statements are finalized, audited, and published.