Annual financial statements and their role in financial communication

Xhani Nensi (), Avram Marioara () and Iliescu Maria-Andreia(Ristea) ()
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Xhani Nensi: Universitatea din Craiova, Str. A. I. Cuza Nr.13, Craiova, Cod Postal 200585, România
Avram Marioara: Universitatea din Craiova, Str. A. I. Cuza Nr.13, Craiova, Cod Postal 200585, România
Iliescu Maria-Andreia(Ristea): Universitatea din Craiova, Str. A. I. Cuza Nr.13, Craiova, Cod Postal 200585, România

Acta Marisiensis. Series Oeconomica, 2018, vol. 1, 1-14

Abstract: Annual financial statements are the main source of information for determining the circumstances in which an entity operates and evolves over time. They represent a fundamental instrument for the adoption of economic and financial decisions at the entity's top management level. Financial statements should present information in a way that helps the user quantify the liquidity of an entity's assets and liabilities in a manner that presents a cohesive financial picture of the entity and it is comparable and consistent from one period to the next, with the purpose to help investors, creditors and others understand the financial position of an entity.

Keywords: Annual financial statements; financial communication; accounting information; users. (search for similar items in EconPapers)
JEL-codes: M40 M41 (search for similar items in EconPapers)
Date: 2018
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