The financial statements represent the less expensive and the most widely spread managerial communication method. Starting from this aspect, the paper shows the managerial usefulness of the information offered by the financial statements. But, in order to take reality, and not „creativity”...

The general objective of financial statements is to provide information about the financial position, performance and cash flows of an enterprise that is useful for a wide range of users in making economic of business decisions. The financial statements also present the results of resources...

The fundamental disposition of the CEE 4th Directive is represented by the art.2, in which is stipulated the structuring of the annual accounts in three documents that forms a unitary whole as following: the balance sheet, the profit and loss account and the annex. The annex is a constitutive...

The conformity of the Romanian accounting system to the European and international accounting rules also implies the accounting policies as a crucial element in the development and presentation of financial statements, which must include relevant and reliable information in condition to meet the...

The aim of this paper is to critically examine the applicability of the concept of 'True and Fair View' (TFV) from an Islamic perspective. It then explores the position and roles of TFV in the Islamic accounting context. The sources of data consist of the shari'ah fundamentals from the Islamic...

The Financial System Stability Assessment of Morocco reviews the reform program that is aimed at establishing a modern, market-oriented financial system that optimizes the mobilization of savings and the allocation of financial resources. It reviews the modernization of the banking sector and...

This paper reviews the tasks and design of audit committees, increasingly recommended as a way to strengthen financial accountability and good central bank governance. It outlines the motivations for the establishment of audit committees in commercial corporations and public sector entities, and...

This paper presents Barbados’s Financial System Stability Assessment Update as part of the Financial Sector Assessment Program Update. The domestic banking sector appears sound and profitable and continues to dominate the financial system. The financial system has benefited from the...

The International Accounting Standards Board issued the International Financial Reporting Standard 8 Operating Segments. Segment information is one of the most vital aspects of financial reporting for investors and other users. The IFRS 8 requires an entity to adopt the ‘management approach’...

The International Accounting Standards Board issued the International Financial Reporting Standard 7, Financial Instruments: Disclosures. The objective of IFRS 7 is to provide more transparency to financial statement users on an entity’s exposure to risks and how those risks are managed. An...