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The Role Of The Annual Financial Statements In The Management Of The Company

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  • AVRAM MARIOARA

    (UNIVERSITY OF CRAIOVA, FACULTY OF ECONOMICS AND BUSINESS ADMINISTRATION, CRAIOVA, ROMANIA)

Abstract

The annual financial situations represent the main source of information regarding the financial situation and the performance of any entity. The public character of the financial situations allows the presentation of the information to both the internal users and to the stakeholders too. This piece of information refers to the financial diagnosis of the entity , the evolution in time and space (as the reports are written and designed for each stage) of the patrimonial elements presented in the balance sheet, the evolution of the income, expenses and the results mentioned in the profit and loss account. The stakeholders in the private sector (shareholders, investors, clients, suppliers, creditors, banking financial institutions) and those in the private sector (government, central and local administration) analyze the financial situations published, in a simplified s form, in the Official Monitor before taking any decisions. The general research field of this paper refers to the presentation of the role and structure of the financial situations as well as a contrastive analysis of the annual financial situations realized by small and medium-sized companies as compared to the one realized by bigger companies. The authors use the theoretical approach to present the structure of the annual financial situations and to prove their importance in the process of Europeanization and globalization of the economy. The empirical approach has been chosen in order to compare the two categories of annual financial situations established according to different criteria such as size and national legislation.

Suggested Citation

  • Avram Marioara, 2013. "The Role Of The Annual Financial Statements In The Management Of The Company," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 1, pages 13-18, February.
    • Handle: RePEc:cbu:jrnlec:y:2013:v:1:p:13-18
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    References listed on IDEAS

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    1. Lucia PALIU-POPA, 2012. "The impact of Romania’s accession to the European Union on the accounting and tax information," Anale. Seria Stiinte Economice. Timisoara, Faculty of Economics, Tibiscus University in Timisoara, vol. 0, pages 68-75, May.
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