OPENING OF FINANCIAL STATEMENTS TOWARDS PROVISIONAL INFORMATION

Mihai Ristea, Mihaela Gruiescu, Corina Dumitru and Marilena Zuca
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Mihai Ristea: Professor of Accounting at the Academy of Economic Studies in Bucharest
Mihaela Gruiescu: Associate Professor of Statistics at the Romanian-American University
Corina Dumitru: Professor of Accounting at the Academy of Economic Studies in Bucharest
Marilena Zuca: Associate Professor of Accounting at the Romanian-American University

Romanian Economic Business Review, 2010, vol. 5, issue 2, 52-67

Abstract: The relevance of accounting information in making effective decisions cannot be reduced only to the retrodiction function. It should help users to evaluate past, present and future events. In this respect, there can be accepted the predictive function of accounting information in forecasting the financial position and performance, and the treasury of the company. To have predictive value, such information must be in the form of explicit forecasts through the provisional accounts as constructed in the present study.

Keywords: forecast; treasury; payments; asset; expenses; income; equity; liabilities (search for similar items in EconPapers)
Date: 2010
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