The financial reporting of micro and small enterprises in Romania

Abstract

Financial reporting remains to be the primary form of communication between enterprises and stakeholders. Due to the specifi cs of the SME-sector reporting information users, financial reporting largely depends on the features distinguishing this group of enterprises as well as on the impact they have on the internal and external environment. (...) Considering the signifi cance of the information contained in fi nancial statements, it is crucial to prepare fi nancial statements in accordance with the legal regulations applicable and the accounting principles adopted, but also to include information that corresponds with certain quality characteristics. Moreover, apart from the national regulations, the solutions proposed in international regulations on corporate reporting have been gaining increasing importance. The above-mentioned issues were taken up in the monograph reviewed, causing this study to be considered interesting and contemporary both science-wise and with regard to economic practice. The language of the monograph and the geographical scope of the subject under study constitute an additional advantage, as the work reviewed can also be used outside Poland. Inclusion of the solutions applied, and the review of the experiences gained in this area by the European Union Member States (Croatia, Lithuania, Latvia, Poland, Slovenia, Romania) as well as countries operating outside the EU structures (Belarus, Moldova, Ukraine) (...) is particularly noteworthy. I highly appreciate the substantive side of the study.