raamatupidamisti

Raamatupidamisti refers to the practice of accounting in Estonia. It encompasses the systematic recording, classifying, summarizing, and interpreting of financial transactions for businesses and organizations. Estonian accounting principles are largely harmonized with European Union directives and International Financial Reporting Standards (IFRS), though some local adaptations exist. The primary objective of raamatupidamisti is to provide an accurate and transparent view of an entity's financial position and performance.

Key aspects of raamatupidamisti include maintaining ledgers, preparing financial statements such as the balance sheet, income statement, and cash flow statement, and ensuring compliance with tax regulations. Estonian law mandates that all registered entities must maintain proper accounting records. The profession is regulated, with requirements for accountants to possess relevant qualifications and adhere to ethical standards. There are specific rules regarding the retention period for accounting documents and the methods of their storage, whether physical or electronic. The Estonian Accounting Act is the foundational legislation governing these practices. Businesses in Estonia typically employ in-house accountants or engage external accounting firms to manage their financial reporting and compliance needs.