hyvitysnota
Hyvitysnota, also known as a "balance sheet" in English, is a fundamental financial statement used by businesses, organizations, and individuals to summarize their financial position at a specific point in time. The term originates from Finnish, where *hyvitys* means "adjustment" or "compensation," and *nota* refers to a note or record. In Finnish accounting, the balance sheet provides a snapshot of assets, liabilities, and equity, ensuring that the equation *Assets = Liabilities + Equity* holds true.
The balance sheet is divided into two primary sections: the left side lists assets, which include tangible
In Finnish business practice, the hyvitysnota is a legally required component of annual financial reports for
For individuals, a simplified hyvitysnota can track personal assets, debts, and net worth. This practice is