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Particularities of Profit and Loss Account Audit and the Production Process in Constructions

Author

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  • Marian Grigore

    (The Bucharest University of Economic Studies Faculty of Accounting and Management Information Systems)

Abstract

The activity during the process of building is strongly influenced by the particular elements that support it, by the direct and indirect building costs. A well-controlled activity from the view point of execution, building site organisation, as well as ensuring the specialised human resource may lead to reaching the objectives set: finalising the building with minimum costs and a high level of the income statement. The financial audit of the profit and loss account is subsequent and implies a scheduled verification after the end of the financial year and submission of yearly statements to financial administration, as a confirmation that this activity was efficient, did not result in frauds. It thus follows that there is a direct relationship between the initial control proposed at the beginning of the building project and the final verification materialised through the annual financial audit.

Suggested Citation

  • Marian Grigore, 2016. "Particularities of Profit and Loss Account Audit and the Production Process in Constructions," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 527-531, July.
    • Handle: RePEc:ovi:oviste:v:xvi:y:2016:i:1:p:527-531
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    More about this item

    Keywords

    assets; risk; control; objectives; fraud;
    All these keywords.

    JEL classification:

    • M40 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - General
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • M42 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Auditing

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