tilinpäös

Tilinpäätös is the annual financial statement of a Finnish company for a completed accounting period. It serves as the formal record of the company’s financial performance and position for the year and is prepared in accordance with Finnish accounting standards and the Companies Act. The core documents typically included are the income statement (tulo- ja menoerät), the balance sheet (varat ja velat), and notes to the financial statements that explain accounting policies and important estimates. For many companies, a cash flow statement is also prepared, and a group structure may require consolidated financial statements. In addition, it is common to publish a toimintakertomus (management report) describing operations, risks, and prospects.

Legal framework and filing: Most limited liability companies are required to prepare a tilinpäätös for the previous financial year and present it to the annual general meeting (AGM) for approval. After approval, the tilinpäätös must be filed with the Finnish Trade Register within the statutory deadline. An auditor’s report is included if the company falls under a statutory audit obligation. Publicly listed companies and larger groups may prepare IFRS-based consolidated statements, while others use Finnish GAAP or other applicable standards.

Audience and use: The tilinpäätös is intended for shareholders, creditors, and authorities, and it forms the basis for the corporate income tax return and for assessing solvency and profitability. Small enterprises may have simplified reporting requirements, but the core obligation to present a formal financial statement remains.