engleski

Financial reporting Standards in Function on Business Continuity

Demands for accounting information have become increasingly complex. Financial reports should be adjusted to meet the demands of beneficiaries, with the principal goal of ensuring business continuity. Quality financial reports allow the beneficiaries to estimate business continuity. Standardized assets positions, obligations, and capital (balancing) must be displayed for comparison across the international business trade. In Croatia, parallelism (dualism) exists in these standards. Enterprises rated on the stock exchange and medium and large enterprises must construct their financial reports according to international accounting management standards and EU guidelines. However, small enterprises and crafts man ships must conform with Croatian Financial Reporting Standards. This paper explores the problems of quality of financial reports in the Republic of Croatia from the perspective of beneficiaries and business continuity, because of the duality in criteria for those reports, and also the preparation of non compulsory annual reports.

accounting information ; financial reports ; business continuity

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