3c

From Ibc

Rules for presenting financial statements in Lithuania / Portugal.

Financial statements become more useful when the individual items are classified into significant groups for comparison and financial analysis. It is important that financial statement users, such as managers, owners, potential investors, creditors could get the right information; they are needed, so financial statement and all information should be prepared in a way that it could be understandable, relevant, and reliable. It should be timely and bear on the decision-making process, that we could predict future data. Preparing financial statement, information must be faithful in representation, neutral and verifiable. It should provide us useful and helpful information for making informed business and economic decisions. After all the financial statement must be prepare in that way that every person could understand it easily