taloustilinpäätöksestä

Taloustilinpäätös, often translated as financial statements or annual accounts, is a formal record of the financial activities and position of a business, person, or other entity. In Finland, it is a mandatory requirement for most companies and organizations. The primary purpose of taloustilinpäätös is to provide a clear and accurate overview of an entity's financial performance over a specific period, typically a fiscal year, and its financial standing at the end of that period.

The taloustilinpäätös consists of several key components. The income statement (tuloslaskelma) details revenues and expenses over a period, ultimately showing profit or loss. The balance sheet (tase) presents a snapshot of assets, liabilities, and equity at a specific point in time. A cash flow statement (rahoituslaskelma) tracks the movement of cash in and out of the entity. Additionally, notes to the financial statements (liitetiedot) provide further explanations and details about the figures presented.

The preparation of taloustilinpäätös follows generally accepted accounting principles (GAAP) or International Financial Reporting Standards (IFRS), depending on the entity's size and reporting requirements. These statements are crucial for various stakeholders, including management for decision-making, investors for assessing profitability and risk, creditors for evaluating creditworthiness, and tax authorities for determining tax obligations. In Finland, the taloustilinpäätös is typically submitted to the Finnish Patent and Registration Office (PRH) for public record.