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Annual financial statements and their role in financial communication

Author

Listed:
  • Xhani Nensi

    (Universitatea din Craiova, Str. A. I. Cuza Nr.13, Craiova, Cod Postal 200585, România)

  • Avram Marioara

    (Universitatea din Craiova, Str. A. I. Cuza Nr.13, Craiova, Cod Postal 200585, România)

  • Iliescu Maria-Andreia(Ristea)

    (Universitatea din Craiova, Str. A. I. Cuza Nr.13, Craiova, Cod Postal 200585, România)

Abstract

Annual financial statements are the main source of information for determining the circumstances in which an entity operates and evolves over time. They represent a fundamental instrument for the adoption of economic and financial decisions at the entity's top management level. Financial statements should present information in a way that helps the user quantify the liquidity of an entity's assets and liabilities in a manner that presents a cohesive financial picture of the entity and it is comparable and consistent from one period to the next, with the purpose to help investors, creditors and others understand the financial position of an entity.

Suggested Citation

  • Xhani Nensi & Avram Marioara & Iliescu Maria-Andreia(Ristea), 2018. "Annual financial statements and their role in financial communication," Acta Marisiensis. Series Oeconomica, "George Emil Palade" University of Medicine, Pharmacy, Sciences and Technology of Târgu-Mureș, România - Faculty of Economics and Law, vol. 1, pages 1-14, December.
    • Handle: RePEc:pmu:oecono:v:1:y:2018:p:1-14
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    File URL: https://oeconomica.umfst.ro/O_XII/001%20_%20014_Situatiile%20financiare%20anuale%20si%20rolul%20lor%20in%20comunicarea%20financiara,%20Avram.pdf
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    References listed on IDEAS

    as
    1. Costin Daniel Avram & Greti Daniela Þogoe & Alexandru Avram, 2017. "From Conformity to Excellence – Study on Quality of Services in Accounting Profession in Romania," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 19(S11), pages 1077-1077.
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    Keywords

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    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

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