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Annual Financial Statements and the Financial Information Supply

Author

Listed:
  • Genu Alexandru Cãruntu

    (Faculty of Economics, ,,Constantin Brâncu?i” University of Târgu Jiu)

  • Loredana Ciurlãu

    (Faculty of Economics, ,,Constantin Brâncu?i” University of Târgu Jiu)

Abstract

Financial statements are a structural representation of the financial position, financial performance and cash flows of an enterprise. Their main objective is to provide useful information to a wide range of users as possible in order to enable economic decisions. The information provided allows making projections about future cash flows, in particular relating to the maturity and the likelihood of their realization. Financial situations can be compiled the results obtained from the use of economic resources managed by the management company. Financial statements must present the financial position at the end of the period, the net result of the period, change in capital and reserves along the year, cash-flow, dividends distributed during the year and notes the annexes. In Romania, according to the new regulations, financial statements consist of: the balance sheet, the profit and loss account, statement of changes in equity, cash flow statement, accounting policies and explanatory notes.

Suggested Citation

  • Genu Alexandru Cãruntu & Loredana Ciurlãu, 2015. "Annual Financial Statements and the Financial Information Supply," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 398-401, May.
    • Handle: RePEc:ovi:oviste:v:xv:y:2015:i:2:p:398-401
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    File URL: http://stec.univ-ovidius.ro/html/anale/RO/2015/i2/ANALE%20vol%2015%20issue_2_2015_site.pdf
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    More about this item

    Keywords

    cash-flow; annual reports; the balance sheet; the profit; loss account;
    All these keywords.

    JEL classification:

    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy

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