tilivuosi
Tilivuosi, in Finnish accounting practice, refers to the accounting period used for bookkeeping and financial reporting by a company or other legal entity. It defines the time span over which revenues, expenses, assets and liabilities are measured, and it is the basis for preparing the annual accounts (tilinpäätös) and for determining taxable income for corporate taxation.
The tilivuosi is not necessarily the calendar year; many companies choose a tilikausi that starts and ends
At the end of the tilivuosi, the company prepares tilinpäätös, including the income statement, balance sheet
In Finland, the tilivuosi and its changes are normally defined in the articles of association and approved