Considerations Regarding the Financial Reporting of the Intangible Assets by the Companies Quoted on Exchange Market
Author:
Univ. Prof. Victor MUNTEANU, Ph. D.; Associate Prof. Marilena ZUCA, Ph. D.; Alina-Elena ANDREI (DĂNĂILĂ), Ph. D. Student
JEL:
M41
DOI:
Keywords:
intangible assets, financial reports, turnover, listed companies
Abstract:
Commercial societies have to draft and to publish balance sheets in order to provide information to external users. The conceptual general frame specifies that the financial reports represent the economic process in words and numbers, and in order to have a perfect representation, an information should be complete, neutral and without any errors. This study aims to identify if the information presented by the commercial societies quoted on exchange markets are in accordance with the provisions of the Conceptual general frame for financial reporting.\r\nThe result of the research led to the conclusion that in general the commercial societies answer only the minimum requirements provided by OMFP 3055/2009 regarding the approval of the Accounting regulations in compliance with the European norms, modified by OMFP no. 2869/2010 for the completion and amendment of accounting regulations, without showing the contribution of intangible assets, direct or indirect, to the entity`s cash flow.