ANNUAL REPORT

The financial year of a company is 12 months (typically from January 1 to December 31). The company’s articles of association or governing documents may allow for a different financial year. Upon establishment, liquidation, or a change in the start date of the financial year, the financial year may exceptionally be shorter or longer than 12 months (but not exceeding 18 months).

The components of the annual report include the management report, income statement, balance sheet, statement of changes in equity, cash flow statement, and notes to the annual report.

Micro and small enterprises that have chosen the Estonian Financial Reporting Standard as their accounting basis may prepare a simplified annual report, which consists of two main statements (balance sheet and income statement) and notes. More information: https://www.riigiteataja.ee/akt/130122015065?leiaKehtiv.