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Analysis of the Notes to the Financial Statement Related to Balance Sheet in Case of Hungarian Information-Technology Service Companies

Analysis of the Notes to the Financial Statement Related to Balance Sheet in Case of Hungarian... AbstractThe main aim of the study to examine the extent to which the companies of a specific Hungarian sector fulfil their obligation to provide information in their notes to the financial statements as stipulated by the Accounting Act. Accordingly, it should be examined whether the notes to financial statements contains the required data regarding the balance sheets of companies investigated. For the analyses, it was used the notes to the financial statement of 8,226 companies with Hungarian headquarters, which are regulated by the Hungarian Accounting Act and which have information-technology services as the main business activity. It was investigated 95.78% of the financial reports containing the notes. The analysis was performed using text mining method, utilizing every available notes to the financial statement of the sector. Findings of the study reveal that the amount of published information shows greater and lesser differences and in many cases, the quantity of published data does not fulfil even the minimal obligations stipulated legally. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Scientific Annals of Economics and Business de Gruyter

Analysis of the Notes to the Financial Statement Related to Balance Sheet in Case of Hungarian Information-Technology Service Companies

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Publisher
de Gruyter
Copyright
© 2019 Veronika Fenyves et al., published by Sciendo
eISSN
2501-3165
DOI
10.2478/saeb-2019-0001
Publisher site
See Article on Publisher Site

Abstract

AbstractThe main aim of the study to examine the extent to which the companies of a specific Hungarian sector fulfil their obligation to provide information in their notes to the financial statements as stipulated by the Accounting Act. Accordingly, it should be examined whether the notes to financial statements contains the required data regarding the balance sheets of companies investigated. For the analyses, it was used the notes to the financial statement of 8,226 companies with Hungarian headquarters, which are regulated by the Hungarian Accounting Act and which have information-technology services as the main business activity. It was investigated 95.78% of the financial reports containing the notes. The analysis was performed using text mining method, utilizing every available notes to the financial statement of the sector. Findings of the study reveal that the amount of published information shows greater and lesser differences and in many cases, the quantity of published data does not fulfil even the minimal obligations stipulated legally.

Journal

Scientific Annals of Economics and Businessde Gruyter

Published: Mar 1, 2019

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