THE REALITY OF EXTERNAL FINANCIAL REPORTING: THE BENEFIT OF THAT REALITY AND ITS COSTS
Keywords:
financial statements, evaluation, reality,cost of evaluation, users of financial statements
Abstract:
Users of external financial statements can make the right decisions only if they are based on real financial statements. The reality of the financial statements is directly related to the actual valuation of items in the financial statements, which often requires a valuation of the fair value of certain positions. Assessment may result in direct and indirect costs of the business entity (estimates costs, potential higher costs of property taxes, income increase and profit taxes, etc.). The financial manager is the person who has to decide where the line between reality and the cost of that reality in financial reporting is.
CITATION:
IEEE format
M. Stanišić, Z. Petrović, “THE REALITY OF EXTERNAL FINANCIAL REPORTING: THE BENEFIT OF THAT REALITY AND ITS COSTS,” in FINIZ 2014 - The Role of Financial Reporting in Corporate Governance, Belgrade, Singidunum University, Serbia, 2014, pp. 1-4. doi: 10.15308/finiz-2014-1-4
APA format
Stanišić, M., Petrović, Z. (2014). THE REALITY OF EXTERNAL FINANCIAL REPORTING: THE BENEFIT OF THAT REALITY AND ITS COSTS. Paper presented at FINIZ 2014 - The Role of Financial Reporting in Corporate Governance. doi:10.15308/finiz-2014-1-4
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