THE PERTINENCE OF INFORMATION FURNISHED BY FINANCIAL SITUATIONS

Florin Boghean, Elena Hlaciuc () and Carmen Boghean ()
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Elena Hlaciuc: “Stefan cel Mare”University of Suceava, Romania
Carmen Boghean: “Stefan cel Mare”University of Suceava, Romania

The Annals of the "Stefan cel Mare" University of Suceava. Fascicle of The Faculty of Economics and Public Administration, 2009, vol. 9, issue 1(9), 202-208

Abstract: In contemporary economy, which unde rgoes perpetual transformation, spectacular changes occur within a short time span, on the basis of financial decisions made by using accounting information and relying on its accuracy and relevance. However, if this information proves to be incongruous wi th the economic events that generated it or is misunderstood, the decisions’ result will be far from what is expected. But what is information in economic terms? How can we distinguish between information and non -information? How can we know that we are really informed? These are questions that are featured in many national and international conferences. In our opinion, information represents a set of data that determines the change of the probabilities expected by the beneficiary after future events take place. The information’s value depends on the impact it has on future decisions, which results into a high degree of subjectivity as to its interpretation and use. Cost is also an important element in choosing alternative sources for information. From an accounting point of view, information is valuable if it is of use to those who possess it in a form of decision -making that leads to the expected results

Keywords: financial decisions; cost; financial situations; management . (search for similar items in EconPapers)
Date: 2009
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