talouskauden

Talouskausi, or talouskauden forms, refers to the financial period during which a business or organization records revenues and expenses, closes accounts, and prepares financial statements. It serves as the basis for budgeting, performance measurement, and tax reporting. The duration of a talouskausi is typically twelve months, but it can vary depending on national rules or company policy. Some organizations adopt the calendar year (1 January to 31 December), while others use a fiscal year that starts and ends in different months to match their business cycle.

During a talouskausi, all income, costs, assets, and liabilities are accumulated. At its end, closing entries are made, and the primary financial statements—income statement, balance sheet, and cash flow statement—are prepared. In many jurisdictions, the end of the talouskausi triggers statutory reporting, audits, or tax calculations, and the figures become the basis for tax declarations and stakeholder reporting.

Choosing and changing talouskausia is subject to regulatory rules. A new or reorganizing entity may establish its first talouskausi and later align it with a standard period; changes typically require approval and notification to authorities and may involve a transitional period.

In Finnish usage, tilikausi is the common term for the financial year, and talouskausi is often used synonymously or as a general term for a fiscal period. The concept emphasizes the time-bound nature of accounting and financial management.