Financial statements from Norway

Schmidt & Schmidt offers financial statements from Norway in electronic form and their translations into English.

According to law, most Norwegian companies must submit annual financial statements. These data are reported in electronic form. Depending on the company’s income, balance and number of employees, the law requires different amounts of data to be published.

Reporting of financial statements in Norway is subject to the Accounting Act and other regulations.

In Norway, both national accounting standards and the IFRS are used. Companies participating in stock exchange are obliged to use the IFRS only. Other companies may use national accounting standards which are similar to the IFRS in many aspects. A full conversion to the IFRS is currently being discussed.

Mandatory financial statements are filed to the registry for balance and accounting reports kept by the registry authority of the registration center.

Sole proprietors, partnerships (if there are no companies among their founders) and small companies are exempt from filing full financial statements. They have to file their financial statements to tax authorities.

Large and medium-sized companies must report their financial statements in full form.

Financial statements must be filed until the end of July of the following month. Delayed filing of financial statements is penalized.

Full annual financial statement includes:

• Balance sheet
• Profit and loss report
• Notes
• Cash flow report
• Executive summary
• Auditor’s report

Example of a financial statement from Norway in the Norwegian language.

Financial statements provide detailed information about a company’s financial state, solvency and performance of an enterprise.

Depending on the size of the enterprise, its financial statement can contain up to several hundred pages.

Financial statements are provided by the registration center and can be requested with the use of a special online service.

Financial statements can provide valuable information about potential business partner which can be used for making decisions like purchasing capital shares or goods or taking legal action to collect debts.

To obtain financial statements of a specific enterprise, its full name and registered office address are required.

Financial statements from the trade register are public, but are provided for a fee.

Financial statements are provided in accordance with the Norwegian legislation and legal requirements on personal data protection.

On our website, you can make a preliminary request if a certain company’s financial statements are obtainable.