Financial statements

The financial statement is an annual checkpoint: we ensure that the figures are correct, completed on time, and presented to you in an understandable way. You will have a designated client manager who keeps the process on track from start to finish, agrees on schedules, and reviews the conclusions with you—without jargon.

A financial statement includes at minimum the income statement, balance sheet, and notes; depending on the size and regulation, it may also include a cash flow statement, management report, and group financial statements. The financial statement is prepared after the end of the financial year, no later than four months after its close. For limited liability companies, these documents are public and must be filed with the Trade Register.

What does this mean in practice? We organize a financial statement meeting where we highlight the key findings regarding cash flow, profitability, and capital structure. At the same time, we ensure that all essential matters for the notes are covered: related party transactions, commitments (such as lease and rental liabilities, given securities, and loan covenants), and significant events after the reporting period. We agree on the timing for signatures by the board (and, if necessary, the CEO), as well as the schedule for the general meeting to approve the financial statements and decide on profit distribution or loss coverage. After this, we ensure that the financial statement is electronically filed with the Finnish Patent and Registration Office (PRH) within the deadline—and that the tax return is submitted on time based on the financial statement.

Timely financial statement discussions – Part of the service

Your designated contact will review the basics of the financial statement with you in good time (revenue recognition and accruals, valuations, depreciations) and ensure the accuracy of the notes (provisions, liabilities—including leasing and guarantees—as well as related parties). We also take into account post-balance sheet events and the going concern assessment, and agree on practical steps: signatures, approval, PRH notification, and tax filing.

When price and transparency matter

We keep the process simple and avoid unexpected costs. During the financial year, we maintain balance sheet specifications to ensure smooth compilation of the financial statement. We communicate clearly about progress and ensure that deadlines are not missed: PRH’s electronic filing is free for eight months after the end of the financial year, and late filings may incur additional fees. With us, the schedule holds, and there are no surprises at the last minute.

Company Size Categories According to the Finnish Accounting Act

Why choose Tuokko

With us, you have a designated client manager who is easily reachable and coordinates the entire process. The work is agile and proactive: we agree, execute, review—and deliver to the authorities correctly and on time. If needed, we explain the numbers in plain language to management and the board, ensuring smooth decision-making.

Checklist for Deadlines: The financial statement must be prepared within 4 months, PRH filing is free for 8 months after the end of the financial year, The tax return must be submitted within four months after the end of the last calendar month of the financial year. Late filings may result in PRH fees. We make sure there are no unexpected surprises.