Organizational culture is an important parameter for business survival and growth. Effective management
must take into account not only the financial data, as they are presented in business annual financial
statements, but the way culture affects quantitative and qualitative organizational variables as well. The
purpose of this paper is to present the importance of organizational culture in terms of business
performance and its interactive relationship with financial statements. In order to achieve that an
organizational culture’s model will be presented and specific financial statements from the Greek National
Accounting Standards will be used. Through this procedure a manager will be able to use equally financial
data and cultural elements for the decision making process.