sluttregnskap

Sluttregnskap, literally meaning "final accounts," is the closing financial statement for a defined period, most commonly a fiscal year. It aggregates actual income, expenses, assets, and liabilities and presents the financial result. In many contexts it also compares actual figures with the approved budget and shows how resources were managed during the period.

Purpose and use: Sluttregnskap provides accountability, transparency, and a basis for planning the next period. It informs stakeholders about financial performance and position, and it is used to adjust future budgets, financial policies, and resource allocations. It helps identify variances between budgeted and realized figures and to evaluate the effectiveness of financial management.

Contents: A typical sluttregnskap includes a result statement (income and expenses), a balance sheet (assets, liabilities, and equity), and notes that explain significant accounting issues, estimates, and policies. It may also include a financing summary or cash flow information and a section detailing deviations from the budget (avvik) and key performance indicators. The document is often prepared in accordance with national accounting rules and public-sector or corporate governance requirements.

Process: After year-end, accounting data are closed and adjustments or accruals are made to reflect the true financial position. The sluttregnskap is prepared, reviewed internally, and subjected to external audit where applicable. The final document is presented to the governing body (such as a board or municipal council) for approval and then published or reported to stakeholders.

Context: In the public sector and many organizations, sluttregnskap is mandated by law or regulation and serves as a cornerstone of financial accountability and informed budgeting for the future.