FAS glossary

English term	Finnish (FAS) term	Definition
Finnish Accounting Act	Kirjanpitolaki (KPL)	Primary legislation governing accounting and financial reporting in Finland.
Finnish Accounting Standards Board	KILA (Kirjanpitolautakunta)	Body issuing accounting standards and general instructions under KPL.
Consolidated balance sheet	Konsernitase	Balance sheet presenting group assets, liabilities, and equity.
Consolidated income statement	Konsernin tuloslaskelma	Income statement presenting group revenues and expenses.
Cash flow statement	Konsernin rahoituslaskelma	Statement of group cash movements.
Statement of changes in equity	Laskelma konsernin oman pääoman muutoksista	Equity movements including NCI and Muuntoero.
Notes to consolidated accounts	Konsernitilinpäätöksen liitetiedot	Mandatory disclosures and explanatory notes.
Currency translation reserve	Muuntoero	Equity reserve for cumulative translation differences; posted within equity.
Non-controlling interest	Vähemmistöosuus	Ownership interest in a subsidiary not attributable to the parent.
Goodwill	Liikearvo	Excess of acquisition cost over fair value of net identifiable assets.
Average rate	Keskikurssi	Period average exchange rate — applied to P&L accounts.
Closing rate	Päätöskurssi	Exchange rate at period end — applied to balance sheet accounts.
Historical rate	Historiallinen kurssi	Rate at date equity component arose — fixed permanently. Not the opening rate of the current period.