Annual Financial Statements – The Most Important Documents for Economic Entities in Romania

Abstract

The annual accounts have the role of providing information to the stakeholders. The essential requirement of financial statements refers to the reflection of a true and fair view of the patrimony existing at a given time, and of the movements of its elements, for a given management period, respectively in a financial year as well as the results obtained during this management period. In this paper, we set out to present the annual financial statements, which are the most important documents for each and every company. The objectives pursued in the research focus on the functions, importance and role of annual accounts. The annual accounts/annual financial statements represent the main channel of communication between the producers of accounting information and stakeholders.

Keywords

• annual accounts
• stakeholders
• synthesis documents
• enterprises
• financial-accounting information