regnskapet

Regnskapet, or the annual accounts, is the formal record of an organization's financial performance and position for a specific financial year. It provides a concise summary of income, expenses, assets, liabilities, and equity, and is used by owners, management, lenders, and authorities to assess profitability, solvency, and liquidity. The regnskapet typically includes the income statement (resultatregnskap), the balance sheet (balanseregnskap), a cash flow statement, and notes to the accounts, and may be accompanied by a management report (årsberetning) that discusses significant events, risks, and outlook.

Content and preparation: The accounts are prepared according to applicable accounting standards in the country, such as IFRS for large listed groups or local GAAP (NGAAP) for others. The accounting period is usually one year, and the accounts are closed and certified by management; many entities are also subject to external audit depending on size and legal form.

Legal status and use: In many jurisdictions, regnskapet must be filed with a national registry or submitted to shareholders at annual general meetings. It serves as an official record for taxation, regulatory compliance, and financial analysis. Transparency and comparability are enhanced by following standardized formats, notes, and disclosures.