Vol 10 No 2 (2019)
Articles

Examination of the Notes to the financial statement through the example of enterprises engaged in sports activities

Published November 21, 2019
Veronika Fenyves
University of Debrecen
Dóra Kerezsi
University of Debrecen
Éva Bácsné Bába
University of Debrecen
Krisztina Dajnoki
University of Debrecen
Zoltán Bács
University of Debrecen
Tibor Tarnóczi
University of Debrecen

Abstract

In the globalized and accelerated world of our time, it is essential that enterprises have up-to-date information. Only a company that is in possession of the necessary information is able to meet the challenges of business life. One source of public information might be the annual statement prepared and published in accordance with the stipulations of Act C of 2000. The annual statement consists of three parts: the balance sheet, the profit and loss account and the notes to the financial statement. The text-based information of the notes to the financial statement are for the more accurate interpretation of numerical data. The notes to the financial statement of certain market participants (consumers, suppliers, competitors, etc.) might support efficient operation of companies, their proper decision-making and risk assessment. In present study, the notes to the financial statement of companies identifying sports activities (Hungarian NACE 931) as their primary activity were utilized. By means of text mining, it was examined what information these notes to the financial statement include from amongst the mandatory information required by the Accounting Act.