Informational Limits of Financial Situations

Roxana Florina Glăvan () and Petru Ştefea ()
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Roxana Florina Glăvan: West University of Timisoara
Petru Åžtefea: West University of Timisoara

Ovidius University Annals, Economic Sciences Series, 2019, vol. XIX, issue 2, 735-739

Abstract: Financial reporting plays a significant role in the business environment by providing relevant information about the work carried out over a period of time by economic entities that are a starting point in setting strategies. The detailed analysis of their content allows detailing the details that can favor the correct direction of the activity towards growth and development, and the forecasts made based on an economic and financial history reduce the degree of uncertainty in the economic activity and highlight the impact elements at the micro and at macroeconomic level. Our conclusion leads to the fact that information supplied by financial statements must be trustworthy and accurate enough at the same time. Thus the overview of the financial statement must be in compliance with the crosspoint of these two characteristics.

Keywords: financial reporting; information limits; quality; qualitative financial statements (search for similar items in EconPapers)
JEL-codes: C49 M19 M41 (search for similar items in EconPapers)
Date: 2019
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