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Financial Annual Statements – Source of Information for Determining the Company’s Financial Position and Performance

Author

Listed:
  • Avram Veronel

    (Faculty of Economics and Business Administration University of Craiova)

  • Puican Liliana

    (Faculty of Economics and Business Administration)

  • Avram Marioara

    (Faculty of Economics and Business Administration University of Craiova)

Abstract

Annual financial statements represent an accounting instrument of great importance in the management activity, being necessary for both the substantiation of decisions on allocation, financing, use and recovery of funds and the organization of control over the implementation of the decisions taken, as well as for the establishment of certain rights and obligations, liabilities arising from the management and development of the patrimony. The fundamental condition that annual financial statements must meet is to reflect reality, regarding both the elements of active and passive at the disposal of economic operator. Importance of financial statements is given by the usefulness of the information provided by them, which often are the only ones that users have access to and on which they must base their economic decisions and justify the use of their financial resources..

Suggested Citation

  • Avram Veronel & Puican Liliana & Avram Marioara, 2012. "Financial Annual Statements – Source of Information for Determining the Company’s Financial Position and Performance," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 982-986, Decembre.
    • Handle: RePEc:ovi:oviste:v:xii:y:2012:i:2:p:982-986
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    File URL: http://stec.univ-ovidius.ro/html/anale/ENG/cuprins%20rezumate/volum2012p2v2.pdf
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    Citations

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    Cited by:

    1. Miron Vasile Cristian Ioachim & Focsan Eleonora Ionela & Bota Cristian Florin, 2016. "Financial Resources Management And The Impact On The Financial Position Of The Entities In The Romanian Energy Sector," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 3, pages 306-311, June.

    More about this item

    Keywords

    annual financial statements; the entity's performance; economic indicators; financial analysis; balance sheet.;
    All these keywords.

    JEL classification:

    • M40 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - General
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

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