Financial Assets Related Disclosure. Study on Investment Firms in Romania

Author:Teaching Assistant Mihaela MATEIU (MAN), Ph. D. Student

JEL:M42

DOI:

Keywords:IFRS, financial assets, financial statements, investment firms, disclosure index

Abstract:
nvestment firms (known in Romania as SSIF) are the main intermediaries within the regulated capital market. With regard to the financial reporting process, investment firms have the obligation to fill in financial statements in accordance to IFRS starting with the 2011 financial reporting period. This study investigates the particular context of investment firms by focusing on financial assets related disclosure within financial statements of year 2011 and 2012. Assessing the level of disclosure is done by reference to the foresights of IFRS 7 Financial instruments: disclosures. The obtained results document a reasonable level of disclosure in accordance to IFRS. The study also investigates variables which might be considered as determinants of financial statements disclosure. Overall, the results show that the considered variables do not significantly influence the level of the considered disclosures. The study contributes to the literature by investigating financial assets related disclosure particularities in the case of investment firms faced with starting the application process of the international accounting referential. \r\n

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