taloustilinpäätös

Taloustilinpäätös, often translated as financial statements or financial reporting, refers to a set of formal records that a company produces to show its financial activities and position. These statements are typically prepared by the management of a company and are used by external stakeholders, such as investors, creditors, and regulatory bodies, to understand the company's economic performance and health.

The core components of taloustilinpäätös in most jurisdictions include the balance sheet, income statement, and cash flow statement. The balance sheet, or tase, provides a snapshot of a company's assets, liabilities, and equity at a specific point in time. The income statement, or tuloslaskelma, summarizes a company's revenues, expenses, and profits or losses over a period, usually a fiscal year or quarter. The cash flow statement, or rahavirtalaskelma, tracks the movement of cash both into and out of the company from its operating, investing, and financing activities.

In Finland, the preparation and presentation of taloustilinpäätös are governed by accounting legislation, such as the Finnish Accounting Act (Kirjanpitolaki). Companies are required to maintain accurate financial records and to present their financial statements in a clear and understandable manner. These statements are crucial for decision-making, as they offer insights into a company's profitability, liquidity, and solvency. Auditing of financial statements by independent auditors is also a common practice to ensure their reliability and compliance with accounting standards.