The Jaffa company's financial statements

Abstract

According to the Law on Accounting of the Republic of Serbia, all companies are obliged to compile regular (annual) financial reports. Regular financial statements include: balance sheet, income statement, statement of changes in equity, statement of other results, cash flow. The financial statements provide the necessary information about assets, liabilities, equity, income, expenses, cashflow, external and internal users. The aim of the research is to show the significance and importance of compiling quality financial reports. The subject of the research is the financial statements of the Jaffa company. Jaffa Crvenka was taken as an example of how domestic companies can compile clear, accurate and timely financial reports. The result of the research showed that it is not enough to compile only traditional financial reports, but it is also necessary to provide additional information from non-financial reports, all with the aim of satisfying the information needs of various state holders.