FINANCIAL COMUNICATION THROUGH THE FINANCIAL STATEMENTS ACORDING TO THE INTERNATIONAL ACCOUNTING SETTLEMENTS

Elena Hlaciuc, Camelia Mihalciuc and AniÅŸoara Apetri

Annales Universitatis Apulensis Series Oeconomica, 2008, vol. 1, issue 10, 19

Abstract: The major financial statements are designed to provide a picture of the overall financial position and performance of the business. In order to provide this overall picture, the accounting system will normally produce five major financial reports on a regular recurring basis. These financial statements, taken together, provide on overall picture of the financial health of the business. It says that who has the information has the power, and the way that it gets from the receiver is communication. From an accounting point of view, the communication is represented by financial statements, witch are regulated by IASB through IAS 1. Its objective is to prescribe the basis for presentation of general purpose financial statements, to ensure comparability both with the entity's financial statements of previous periods and with the financial statements of other entities.

Keywords: financial statements; IASB; IAS/IFRS financial reporting (search for similar items in EconPapers)
JEL-codes: M41 (search for similar items in EconPapers)
Date: 2008
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Citations: View citations in EconPapers (2)

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