Exploratory Analysis of Assets Nonconformities in Financial Statements

Alina (Chiriac) Matei () and Kamer-Ainur Aivaz ()
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Alina (Chiriac) Matei: The Bucharest University of Economic Studies, Romania
Kamer-Ainur Aivaz: „Ovidius” University of Constanta, Faculty of Economic Sciences, Romania

Ovidius University Annals, Economic Sciences Series, 2023, vol. XXIII, issue 1, 978-985

Abstract: Financial irregularities can occur in the management of assets and may be caused by faulty accounting procedures, erroneous estimates, inadequate depreciation or unexpected losses. Such irregularities and errors can affect both the financial statements and the overall performance of the firm. Financial errors can have similar effects. They could arise either from incorrect accounting for asset acquisition or depreciation, negligence or misinterpretation of accounting rules. Such mistakes can disrupt financial statements and the understanding of a company's financial performance and stability. Based on the indicators reported by firms in 2021, this study identifies both at the level of each county and by taxpayer category, situations where fixed assets are lower than tangible assets, and the risk of non-compliance in financial reporting appears to be significant.

Keywords: assets nonconformities; exloratory analysis; financial error; fixed assets; noncurrent assets; tangible assets (search for similar items in EconPapers)
JEL-codes: H00 H32 K00 (search for similar items in EconPapers)
Date: 2023
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