Current financial statements are a comprehensive description of the enterprise, which characterize not only their financial and property status, but also the risks and prospects that allows making a comprehensive picture of the market activities. The research paper deals with the study of the essence and the role of financial statements in the process of enterprise management. The objective of this research paper is to establish the necessary content and features of financial statements that would enable to fully meet the needs of managerial staff, while re-maining economical, understandable and sufficient in terms of the content. The authors, through the analysis of the works of recognized scholars, investigated the main approaches to the definition of financial statements, which could allow us to define it as a set of indicators, representing generalized accounting data in the form that fully meets the information needs of the users for the process of managing economic activities. In the process of studying the composition of financial statements, their types are identified, and as a result - their role in the management of the enterprise are determined. The authors present their own vision of the essence of high-quality accounting information and its main characteristics, which can serve as content guidelines when compiling descriptive, non-financial and text parts of financial statements. The proposed approach allows formulating financial statements from the point of view of presentation of our own business on the best side, and in compliance with the regulatory and legal principles and requirements.

In recent years, the Malaysian Ministry of Tourism has been increasingly investing for the development of homestay destinations, which have a deeply positive and sustainable socio-economic impact on rural communities. Tourists who visit these less-trodden areas of the country in turn have an opportunity to experience its diverse cultural heritage in a more inti-mate and personable way. The purpose of this study is to identify the factors that contribute to tourists’ satisfaction with the service they received at Homestay Banghuris in Sepang, Selangor, Malaysia. A total of 80 tourists willingly participated in a research questionnaire distributed at the homestay. They were selected by the simple random sampling method. The study examined the relationship between service quality and tourist satisfaction and realize that there were positive and meaningful relationship between service quality and customer satisfaction.