THE OBJECTIVE OF FINANCIAL STATEMENTS.COMPANY’S FINANCIAL POSITION

Ecaterina Surupaceanu
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Ecaterina Surupaceanu: University of Craiova, Romania

Annals - Economy Series, 2011, vol. 4, 181-186

Abstract: Are also considered various texts which in most cases contain distinct both accounting regulations and tax rules or texts that contain elements simultaneously and accounting. To the extent that legal texts and the regulated are insufficient to cover regular, enter the role of case law or rules prescribed accounting doctrine. Information about an entity's performance, in particular its profitability, are needed to assess potential changes in economic resources that the entity can control the future. In this regard, information about variability of performance is important. Performance information is useful to predict the entity's ability to generate cash flows using existing resources; they are useful for formulating judgments about the effectiveness of the entity may use the nerd resources.

Keywords: financial statements; financial position; financial performance; economic resources; liquidity; solvency (search for similar items in EconPapers)
Date: 2011
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