tilinpäätöksenkäytäntöön

Tilinpäätöksenkäytäntö refers to the accounting policies a company follows when preparing its financial statements. These policies are the specific principles, bases, conventions, rules, and practices applied by an entity in presenting and preparing its financial statements. They are crucial for ensuring the comparability and understandability of financial information.

Companies choose their accounting policies based on applicable accounting standards, such as International Financial Reporting Standards (IFRS) or national accounting standards. These standards provide a framework, but often allow for choices in how certain transactions or events are recognized and measured. For example, a company might choose between different methods for valuing inventory (e.g., FIFO or weighted average cost) or for depreciating its fixed assets (e.g., straight-line or declining balance).

The chosen tilinpäätöksenkäytäntö must be applied consistently from one period to the next, unless a change is justified by a change in accounting standards or results in more reliable and relevant information. If a change in accounting policy is made, it must be disclosed in the financial statements, along with the reasons for the change and its financial effect. Users of financial statements rely on this consistency and disclosure to make informed decisions. The objective of accounting policies is to present a true and fair view of the company's financial position, performance, and cash flows.