Key accounting terms (Estonia)

Accounting policies and procedures

Internal accounting procedures should:

  • Describe the required chart of accounts with a description of the content of these accounts.
  • Regulate the procedure for documenting and recording transactions.
  • Establish circulation and storage of primary documents.
  • Regulate the maintenance of accounting registers.
  • Reflect income and expenses in the profit and loss statement.
  • Describe the inventory, assets, and liabilities of the company.
  • Determine the accounting policy, reporting procedure and other accounting.

Internal accounting rules are binding and individual for every company.

Balance sheet

Financial year report

Company management report

Annual report


It is important to remember that a certified audit report does not relieve the Management Board from liability for the accounting report’s content.

VAT number

Useful links


Medium account for the Company in Estonia OÜ; a team of professionals assisting in formation and developing business in Estonia.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store