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Informational Limits of Financial Situations

Author

Listed:
  • Roxana Florina Glăvan

    (West University of Timisoara)

  • Petru Åžtefea

    (West University of Timisoara)

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.

Suggested Citation

  • Roxana Florina Glăvan & Petru Åžtefea, 2019. "Informational Limits of Financial Situations," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 735-739, December.
    • Handle: RePEc:ovi:oviste:v:xix:y:2019:i:2:p:735-739
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    More about this item

    Keywords

    financial reporting; information limits; quality; qualitative financial statements;
    All these keywords.

    JEL classification:

    • C49 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Other
    • M19 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Other
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

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