The article discusses how important it is for companies in Romania to use a standardized process for preparing their financial statements. This helps ensure that the information in the statements is accurate and reliable for users like managers, investors, and the general public. The researchers emphasize the need for careful accounting work before creating financial statements, as factors like different accounting methods and professional judgment can affect the final numbers. The main goal of the paper is to show the significance of these preliminary accounting tasks in establishing annual financial statements.