EVALUATION OF THE ORGANIZATION'S PERFORMANCE IN CONNECTION WITH THE CREATION OF FINANCIAL STATEMENTS

Nora Stangova, Agnesa Vighova, Zoran Cekerevac
2021 MEST Journal  
The presented article is a summary of theoretical approaches for evaluating the results of the organization in accordance with the reflection of performance and performance measurement, as well as its reporting in financial statements, which are in the sense of Slovak legislation, the final reflection of the organization. The company has its attributes, and all the attributes affect individual indicators of financial analysis and they are the following: production program, the technology used,
more » ... e technology used, the complexity of products, participation of nature, technology and man, the composition of products, method and all operate in a three-balance system: cash-flow-balance sheet- profit and loss statements. In this context, it is necessary to monitor the performance in the organization, which has a direct impact on sales and revenues and then on the overall economic result, which is the main indicator of the successful operation of the company. The transformation process indicates the process and transformation of inputs into a process towards its results, and the interconnection of the three-balance system points to the importance of three types of statements, as follows: profit because of management from the profit and loss statement is also a source in the balance sheet, the result from the cash flow statement represents assets in the form of cash in the balance sheet. All three statements provide relevant data for the financial analysis of the organization.
doi:10.12709/mest.09.09.01.21 fatcat:zsevze6s6bcxddrgloa6q7cjzq