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Notes to the Financial Statements: Current State and Improvement

Author

Listed:
  • Rep Ana

    (The University of Zagreb, Faculty of Economics and Business, Zagreb, Croatia)

Abstract

Background: Prior studies have revealed a disclosure problem in financial statements, primarily in narrative reports. Three main problem areas have been identified: insufficient relevant information, too much irrelevant information, and low-level communication. Micro and small entities face the most difficulties.

Suggested Citation

  • Rep Ana, 2021. "Notes to the Financial Statements: Current State and Improvement," Business Systems Research, Sciendo, vol. 12(2), pages 60-78, December.
    • Handle: RePEc:bit:bsrysr:v:12:y:2021:i:2:p:60-78:n:6
    DOI: 10.2478/bsrj-2021-0019
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    References listed on IDEAS

    as
    1. Etienne Farvaque & Catherine Refait-Alexandre & Dhafer Saïdane, 2011. "Corporate disclosure: A review of its (direct and indirect) benefits and costs," International Economics, CEPII research center, issue 128, pages 5-31.
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    3. Richard Barker & Elisabetta Barone & Jacqueline Birt & Ann Gaeremynck & Anne Mcgeachin & Jan Marton & Rucsandra Moldovan, 2013. "Response of the EAA FRSC to the EFRAG/ANC/FRC Discussion Paper: Towards a Disclosure Framework for the Notes," Accounting in Europe, Taylor & Francis Journals, vol. 10(1), pages 1-26, June.
    4. Anne Marie Garvey & Laura Parte & Bridget McNally & José Antonio Gonzalo-Angulo, 2021. "True and Fair Override: Accounting Expert Opinions, Explanations from Behavioural Theories, and Discussions for Sustainability Accounting," Sustainability, MDPI, vol. 13(4), pages 1-23, February.
    5. repec:cii:cepiei:2011-q4-128- is not listed on IDEAS
    6. R. H. Parker, 1996. "Harmonizing the notes in the UK and France: a case study in de jure harmonization," European Accounting Review, Taylor & Francis Journals, vol. 5(2), pages 317-337.
    7. repec:cii:cepiei:2011-q4-128-1 is not listed on IDEAS
    8. Niclas Hellman & Jordi Carenys & Soledad Moya Gutierrez, 2018. "Introducing More IFRS Principles of Disclosure – Will the Poor Disclosers Improve?," Accounting in Europe, Taylor & Francis Journals, vol. 15(2), pages 242-321, May.
    9. Ayman E. Haddad & Fatima Baalbaki Shibly & Ruwaidah Haddad, 2020. "Voluntary disclosure of accounting ratios and firm-specific characteristics: the case of GCC," Journal of Financial Reporting and Accounting, Emerald Group Publishing Limited, vol. 18(2), pages 301-324, February.
    10. Adriana Galant & Ksenija Cerne, 2017. "Non-Financial Reporting in Croatia: Current Trends Analysis and Future Perspectives," Management, University of Primorska, Faculty of Management Koper, vol. 12(1), pages 41-58.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    disclosure problems; financial statements; notes; micro and small entities; standardization; integration; digitalization; the principle of materiality;
    All these keywords.

    JEL classification:

    • D22 - Microeconomics - - Production and Organizations - - - Firm Behavior: Empirical Analysis
    • M19 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Other
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

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