IDEAS home Printed from https://ideas.repec.org/a/pet/annals/v11y2011i2p257-264.html
   My bibliography  Save this article

The Accounting Treatment of the Tourism Unit’s Financial Statements in Agreement with the International Financial Reporting Standards

Author

Listed:
  • Bogdan Răvaș

    (University of Petrosani, Romania)

Abstract

Financial statements should be presented on a going-concern basis unless management intends to liquidate the tourism unit or cease trading. If not presented on a going concern basis, the fact and rationale for not using it should be disclosed. Uncertainties related to events and conditions that cast significant doubt on the tourism unit's ability to continue as a going concern should be disclosed. The Statement of Financial Position provides information about the financial position of the tourism unit and it should distinguish between major categories and classifications of assets and liabilities current or noncurrent distinction. Departure from the requirements of an IFRS is allowed only in the extremely rare circumstance in which the application of the IFRS would be so misleading as to con-flict with the objectives of financial statements. In such circumstances, the tourism unit should disclose the reasons for and the financial effect of the departure from the IFRS.

Suggested Citation

  • Bogdan Răvaș, 2011. "The Accounting Treatment of the Tourism Unit’s Financial Statements in Agreement with the International Financial Reporting Standards," Annals of the University of Petrosani, Economics, University of Petrosani, Romania, vol. 11(2), pages 257-264.
    • Handle: RePEc:pet:annals:v:11:y:2011:i:2:p:257-264
    as

    Download full text from publisher

    File URL: http://upet.ro/annals/economics/pdf/2011/part2/Ravas%20B-2.pdf
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    financial; statement; tourism; standards; performance;
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • M48 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Government Policy and Regulation

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pet:annals:v:11:y:2011:i:2:p:257-264. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Imola Driga (email available below). General contact details of provider: http://www.upet.ro/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.