tilinpäätösdirektiivi

The "tilinpäätösdirektiivi" is the Finnish term for the European Union's Accounting Directive. This directive, officially known as Directive 2013/34/EU, aims to harmonize accounting rules and financial reporting standards for companies across EU member states. Its primary objective is to simplify accounting and reporting obligations for small and medium-sized enterprises (SMEs) while ensuring transparency and comparability of financial information for larger companies.

The directive sets out rules regarding the preparation, presentation, and content of annual financial statements, including the balance sheet, profit and loss account, and notes to the accounts. It also covers consolidated financial statements for groups of companies. Key provisions include defining different accounting formats and disclosure requirements based on company size, allowing for simplified treatments for smaller entities. This aims to reduce the administrative burden on SMEs.

Furthermore, the Accounting Directive addresses auditor requirements and the publication of financial statements. It promotes the consistent application of accounting principles across the EU, facilitating cross-border investment and trade. Member states are required to transpose the directive's provisions into their national laws, leading to a degree of uniformity in accounting practices throughout the European Union. The directive is periodically reviewed and updated to adapt to evolving economic conditions and accounting standards.