• What?

    XBRL (eXtensible Business Reporting Language) is an XML-based markup language for the presentation of financial information, e.g. financial statements, in electronic format. XBRL enables the automated formation, and initial and further processing of documents containing financial information. All parties producing, transmitting and analysing data can benefit from documents that are in XBRL format.

  • Helpful web addresses

    XBRL Finland is a consortium operating under the international XBRL organisation, whose main goal is to introduce  XBRL reporting language to Finland.

    The SBR taxonomy (Standard Business Reporting) is based on the Reporting code list’s  information definitions, and each taxonomy version always reflects the information content of the same year’s Reporting code list.

    Standardized Business Reporting codes and classifications

  • What?

    The financial reporting code list is a standard that guides a user to enter the necessary information to the account scheme in a way that makes the company’s statutory reporting effortless. The code list has the same structure as the official financial statements. If you record your business transactions in accordance with the code list standard, the official financial statements’ balances and necessary breakdown information will always be correctly entered.

    The duties of the State Treasury include the promotion of automated financial management in Finnish society. The financial reporting code list is part of the structured financial information utilised in the financial management’s automation.

    The State Treasury maintains the financial reporting code list in accordance with the reporting board’s decisions.

    The use of this code list makes it easier for small and medium-sized companies to file their financial statements to the authorities.

  • The financial reporting code list

    The financial reporting code list for 2024>

  • The reporting board

    The State Treasury is in charge of the reporting board’s work and keeps the reporting code list updated. The board makes decisions regarding annual changes to the code list.

    The reporting board members and their selection

    The board consists of members from organisations representing the users and developers of the reporting code list. The State Treasury submits an appointment request regarding the board members and their personal substitute members.

    The reporting board can have 8–12 members, a chair and a vice chair. Each member has their personal substitute.

    The State Treasury appoints the reporting board chair, vice chair, members and their personal substitutes for a term of two calendar years.

    Quorum and decision-making

    The presence of the chair or vice chair and no less than one half of the members will form a quorum. A board decision must be supported by the majority of the members. If votes are evenly divided, the chair will have the casting vote.

    The reporting board members in 2023–2024 (personal substitute members in brackets):

    • Aalto University, Hannu Ojala (Kari Toiviainen)
    • Confederation of Finnish Industries, Hannu Ylänen (Santeri Suominen)
    • Finland Chamber of Commerce, Anne Horttanainen
    • Association of Finnish Local and Regional Authorities, Marja-Liisa Ylitalo (Mikko Mehtonen)
    • Finnish Patent and Registration Office, Juho Mäkinen
    • Association of Finnish Accounting Firms, Eeva Lyytinen (Janne Fredman)
    • Tmi Leena Rekola-Nieminen, Leena Rekola-Nieminen
    • Statistics Finland, Jaakko Salmela (Pirkko Nurmela)
    • Ministry of Economic Affairs and Employment, Timo Kaisanlahti (Mika Björklund)
    • Finnish Tax Administration, Lauri Tuomarla, chair (Tarja Rautio)
    • Suomen Asiakastieto Oy, Ari Toivio (Mikko Hollman)
    • XBRL Finland (Tieke), Esko Penttinen (Elina Koskentalo)
    • State Treasury, Atte Virtanen, secretary

  • The reporting committee

    The reporting committee functions as the reporting board’s preparatory and assisting body.

    The committee members

    The committee consists of 6–10 members who represent the reporting code list users and developers.

    The board chair functions as the chair of the committee. The State Treasury appoints the reporting committee chair, vice chair and members for a term of two calendar years.

    Quorum and decision-making

    The presence of the chair or vice chair and no less than two (2) members will constitute a quorum. The committee has the right to make decisions in urgent matters that concern the reporting code list.

    The reporting committee’s members during the term of 2019–2020:

    • Finnish Tax Administration, Lauri Tuomarla, chair (Tarja Rautio)
    • Aalto University, Tapani Kykkänen
    • Ministry of Economic Affairs and Employment, Mika Björklund
    • Association of Finnish Accounting Firms, Eeva Lyytinen
    • Tmi Leena Rekola-Nieminen, Leena Rekola-Nieminen
    • Statistics Finland, Jaakko Salmela
    • Finnish Patent and Registration Office, Juho Mäkinen
    • XBRL Finland, Elina Koskentalo
    • State Treasury, Atte Virtanen, secretary