The information about company performance, especially about its profitability,is useful in substantiating managerial decisions regarding potential changes in the economicresources that the company will be able to control in the future. This objective aims achievingsuperior economic results that...

There is the possibility that the information on which basis the informational risk hasbeen identified and evaluated, not to be correct and impicitly the financial statements not to be inconformity with the represented reality, affecting in this way the objective of the ‘trustworthyimage‘....

In the last years and especially after the outbreak of the recent financial and economiccrisis, fair value and implicitly fair value measurements for financial statements have been harshlycriticized, mainly by the representatives of the companies activating in the financial sector.Therefore, the...

This paper deals with issues of how to take on the responsibility of the auditor, especiallyin this time of crisis that hits the whole society. Significant role of financial auditor and the lies that theauditor is unable to give reasonable assurance that financial statement are not tainted by...

The present article is the result of the observation, analyses and personal conclusionsover the development of the IFRS at global level, their impact over the national and internationalcompanies all over the world and, nevertheless, the informational inputs from the FinancialStatements which...

Although one may say that the components of financial statements maybe considered autonomous and independent elements, the whole accountingprocessing procedure ends with a set of financial statements that are closelyinterconnected from the information viewpoint. Therefore, the earnings are shown...

The major financial statements are designed to provide a picture of theoverall financial position and performance of the business. In order to provide thisoverall picture, the accounting system will normally produce five major financialreports on a regular recurring basis. These financial...

In order to reveal the ‘trusty image‘ of the financial position, the assets, the liabilitiesand of the performance of an entity, it is necessary to adopt, know, understand and/or to apply thecorresponding accounting policies. In addition, in order to accomplish this objective an...

The aim of this paper is to bring into attention the creative accounting phenomenon. Typesof creative accounting practices has been examined comparing scandals occurred in large companiesin the last two decades. In order to realize this scope we define the concept of creative accounting andits...

The evolution, the development of increasingly complex activities emphasizes the utility,the necessity of the profit and loss account in the financial reporting by increasing the interest in theenterprise performance, especially for the dynamic information that this situation can provide.In this...