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Exploratory Analysis of Assets Nonconformities in Financial Statements

Author

Listed:
  • Alina (Chiriac) Matei

    (The Bucharest University of Economic Studies, Romania)

  • Kamer-Ainur Aivaz

    („Ovidius” University of Constanta, Faculty of Economic Sciences, Romania)

Abstract

Financial irregularities can occur in the management of assets and may be caused by faulty accounting procedures, erroneous estimates, inadequate depreciation or unexpected losses. Such irregularities and errors can affect both the financial statements and the overall performance of the firm. Financial errors can have similar effects. They could arise either from incorrect accounting for asset acquisition or depreciation, negligence or misinterpretation of accounting rules. Such mistakes can disrupt financial statements and the understanding of a company's financial performance and stability. Based on the indicators reported by firms in 2021, this study identifies both at the level of each county and by taxpayer category, situations where fixed assets are lower than tangible assets, and the risk of non-compliance in financial reporting appears to be significant.

Suggested Citation

  • Alina (Chiriac) Matei & Kamer-Ainur Aivaz, 2023. "Exploratory Analysis of Assets Nonconformities in Financial Statements," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 978-985, August.
    • Handle: RePEc:ovi:oviste:v:xxiii:y:2023:i:1:p:978-985
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    References listed on IDEAS

    as
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    More about this item

    Keywords

    assets nonconformities; exloratory analysis; financial error; fixed assets; noncurrent assets; tangible assets;
    All these keywords.

    JEL classification:

    • H00 - Public Economics - - General - - - General
    • H32 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - Firm
    • K00 - Law and Economics - - General - - - General (including Data Sources and Description)

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