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Improving the Numbers of Financial Statements

Author

Listed:
  • Traian Calota

    (Faculty of Economic Sciences, University Titu Maiorescu Bucharest, Senior Expert Infofisc)

  • Alin-Eliodor Tănase

    (CFO, Everet România Distribution)

Abstract

Improving the numbers of financial statements can be achieved by several methods such as: recording the revenue too soon, recording bogus revenue, shifting the current expense to a future or an earlier period, failing to record liabilities or shifting the current revenue to a later periods. As being science, technology or language of communication the accounting should reflect economic reality of transactions. Legal regulations, knowledge, creativity, management, and innovation spirit are all factors that are applied in practice and these factors contribute to economic reality through science of the reporting or ‘financial position and performance tuning (creative accounting).

Suggested Citation

  • Traian Calota & Alin-Eliodor Tănase, 2013. "Improving the Numbers of Financial Statements," Journal of Knowledge Management, Economics and Information Technology, ScientificPapers.org, vol. 3(3), pages 1-15, June.
    • Handle: RePEc:spp:jkmeit:1392
    as

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    References listed on IDEAS

    as
    1. Hennie Van Greuning, . "International Financial Reporting Standards : A Practical Guide, 5th Edition [Estandares internacionales de informacion financiera : guia practica]," World Bank Publications, The World Bank, number 2620, September.
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    More about this item

    JEL classification:

    • H32 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - Firm
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • M16 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - International Business Administration

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