Studies on the Role of Financial Communication in Presenting the Financial Sustainability of a Company

DOI

10.2991/assehr.k.201212.031How to use a DOI?

Keywords

financial communication, financial sustainability, economic information, digital economy

Abstract

In a world where digitalization and globalization are two very strong phenomena, the modernization of a common language used in the preparation, presentation and especially in the communication of the information provided by the annual financial statements acquires a primary role. The acute need for truthful financial communication of economic and business-specific information within the digital age is forcing the International Financial Reporting Standards to try to provide a richer portfolio of information on a company’s intellectual assets and sustainability. Financial communication must be based on transparent and accurate information regarding the assets, financial situation, and stability of a company. Within the new business economy environment, which is a digital one, an efficient financial communication will ensure the performance architecture of any company. Organizations with substantial financial and material resources and rigorous financial management have an increased chance of survival and development. That is why financial sustainability must be seen in terms of financial autonomy. In this paper the authors tried to combine the theoretical elements with the practical ones necessary to diagnose financial sustainability and the way of efficient and correct communication of financial information, reputation and trust of the company. In the paper, the authors focused on the theoretical issues of financial communication by reviewing the literature and tried to achieve a crystallization of financial information necessary for economic analysis. Emphasis was placed on accurate financial information from the annual financial statements.

Copyright

© 2020, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

Download article (PDF)

TY  - CONF
AU  - Gabriela IGNAT
AU  - Lilia ȘARGU
AU  - Teodor BIVOL
AU  - Anelisse BIVOL-NIGEL
PY  - 2020
DA  - 2020/12/15
TI  - Studies on the Role of Financial Communication in Presenting the Financial Sustainability of a Company
BT  - Proceedings of the International Conference Digital Age: Traditions, Modernity and Innovations (ICDATMI 2020)
PB  - Atlantis Press
SP  - 141
EP  - 146
SN  - 2352-5398
UR  - https://doi.org/10.2991/assehr.k.201212.031
DO  - 10.2991/assehr.k.201212.031
ID  - IGNAT2020
ER  -