Vol. 11 No. 1-2 (2017)
Articles

International outlook: The notes and business report in the frame of financial reporting

Published June 30, 2017
Veronika Fenyves
University of Debrecen, Faculty of Economics and Business
Ildikó Orbán
University of Debrecen, Faculty of Economics and Business
Zoltán Bács
University of Debrecen, Faculty of Economics and Business
Ildikó Réka Cardoş
Babeș-Bolyai University Faculty of Economics and Business Administration
Silvia Tóbiás Kosár
János Selye University Faculty of Economics
Elvira Böcskei
Károli Gáspár University of the Reformed Church
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APA

Fenyves, V. ., Orbán, . I. ., Bács, Z. ., Cardoş, . I. R. ., Kosár, S. T. ., & Böcskei, . E. (2017). International outlook: The notes and business report in the frame of financial reporting. Applied Studies in Agribusiness and Commerce, 11(1-2), 155–165. https://doi.org/10.19041/APSTRACT/2017/1-2/19

Are the accounting reports to be prepared on a yearly basis suitable for indicating problems, possibly for informing the stakeholders about the declining phase of an enterprise? The information needs of the various market operators are different thus the question is whether the management of an enterprise or possibly the owners place an emphasis on the adequate information. We examine the issue of social responsibility from a special approach in which, in addition to the corporate lifecycle models, there is a focus on the information content of the Hungarian and international accounting reports, moreover the content of the further report that is to be prepared but does not form a part of the accounting report. The aim of our research is to compare the notes and the further reports which meet the Hungarian, Rumanian, Slovakian and international standards and corroborate the quantitative data of the accounting report. By paralleling the notes and the further reports, we draw attention to the fact that one of the most important accounting principles i.e. the going concern concept, which the other principles are based on, will be (or will likely be) affected insofar as content of the enterprises’ reports does not comply with the legislation. In addition to the addressees of accounting, the authors point at the issue of social responsibility based on those similarities which can be observed in the relations of the value-oriented corporate governance.

JEL. Code: M41