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Financial Reporting In The Tourism Industry

Author

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  • Radu-Daniel LOGHIN

    (Academia de Studii Economie, București, Romania)

Abstract

In recent years the tourism industry has seen a rise in scope and influences both in the political and economic arenas. The industry has become exposed to risks such as money laundering and fraudulent reporting, demanding the use of International Financial Reporting Standards (IFRS) to reduce differences in financial reporting and increase the attractiveness of the sector for investors. For the purpose of this paper, a sample of 611 equities in the tourism and hospitality business was used in order to understand the state of financial reporting in the sector with an emphasis on the relevance of financial information and other issues such as timeliness and the adherence to a true and fair presentation. The research reveals the enhanced relevance obtained from the use of the IFRS as well as risks for the financial management of the companies.

Suggested Citation

  • Radu-Daniel LOGHIN, 2016. "Financial Reporting In The Tourism Industry," SEA - Practical Application of Science, Romanian Foundation for Business Intelligence, Editorial Department, issue 11, pages 213-218, July.
    • Handle: RePEc:cmj:seapas:y:2016:i:11:p:213-218
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    More about this item

    Keywords

    Tourism; Financial reporting; Relevance; Equity markets;
    All these keywords.

    JEL classification:

    • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • M42 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Auditing

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