finantskirjeldustes

Finantskirjeldused are Estonian financial statements used by companies and organizations to report their financial position and performance. The term encompasses the primary financial documents required by Estonian accounting law and by the European Union regulations, such as the Insolvency Act, the Financial Reporting Act, and the European Financial Reporting Directive.

The core components of finantskirjeldused are the balance sheet, the profit and loss statement, the cash‑flow statement, and the notes to the accounts. The balance sheet lists assets, liabilities and share capital at a specific date; the profit and loss statement summarizes revenue, expenses and net profit over a reporting period; the cash‑flow statement shows inflows and outflows of cash and equivalents; the notes provide explanatory information and details about accounting policies. Together, these documents enable stakeholders such as owners, managers, creditors, tax authorities and investors to assess the company’s liquidity, solvency, profitability and cash‑generation capability.

In Estonia, companies are required to prepare finantskirjeldused annually in accordance with the Estonian Accounting Standards (ESAS) or, for larger enterprises, the International Financial Reporting Standards (IFRS). Small micro‑entities may be exempt from preparing full reports but must still produce a simplified statement. The statutory deadlines are set by the Accounting Act, and the statements must be filed with the Estonian Tax and Customs Board and the Registry of Business Entities. Auditing requirements vary by company size: larger entities must obtain an independent audit, whereas small and medium‑sized enterprises may be exempt.

Finantskirjeldused serve several essential functions. They provide transparent information that supports internal decision‑making and strategic planning. They also fulfil legal obligations, enable regulatory oversight, and maintain investor confidence. By standardising the format and content of financial reporting, finantskirjeldused contribute to the overall integrity and comparability of the Estonian financial market.