6 Pages Posted: 12 Jan 2009
Date Written: January 9, 2009
The final product of the accountancy activity is materialized in the financial standings. Through these, all the transactions from the economical-financial activity of the company or entity are classified and synthesized in the view of the American organism of standardization.
These type of flows show the capacity of the company to pay dividends, and interests, which, in exchange, influence the market value of actions and obligations issued. Thus, the American organism of standardization recognizes the primate of monetary flows before the result type information that are the consequences of applying a accruals basis of accountancy; supplying an information relative to the economical resources of the company, the obligations towards the creditors and owners, as well as the effects of the transactions or the events that put their fingerprint on the resources and the right regarding resources.
Keywords: financial statements, IAS/IFRS, financial market
JEL Classification: M41
Suggested Citation: Suggested Citation
Bostan, Ionel and Grosu, Veronica and Socoliuc, Marian, Conceptual Approaches Regarding the Financial Statements (January 9, 2009). Available at SSRN: https://ssrn.com/abstract=1325402 or http://dx.doi.org/10.2139/ssrn.1325402