tilinpäätöspäivänä

Tilinpäätöspäivänä is a Finnish term that translates to "fiscal year-end" or "balance sheet date" in English. It refers to the specific date on which a company or organization closes its financial accounts for a given accounting period, typically a year. This date is crucial for preparing the annual financial statements, which include the balance sheet, income statement, and cash flow statement.

The tilinpäätöspäivänä marks the end of the accounting period and the beginning of the process of compiling financial data. During this period, all financial transactions that have occurred up to and including this date are recorded and summarized. The preparation of the financial statements involves tasks such as calculating revenues and expenses, valuing assets and liabilities, and ensuring that all financial reporting requirements are met.

This date is significant for various stakeholders, including management, shareholders, creditors, and tax authorities. For management, it provides a comprehensive overview of the company's financial performance and position, enabling them to make informed strategic decisions. Shareholders and investors use the financial statements to assess the company's profitability and value. Creditors evaluate the company's ability to repay debts, and tax authorities use the information to determine tax liabilities. The chosen tilinpäätöspäivänä can sometimes be influenced by industry practices or regulatory requirements, but it is generally set by the company's board of directors.