THE UTILITY OF ACCOUNTING POLICIES FOR FINANCIAL REPORTING

Vilena Tiscenco () and Galina Badicu ()
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Vilena Tiscenco: Stefan cel Mare University of Suceava, 720229, Romania / Academy of Economic Studies of Moldova, Chisinau, Republic of Moldova
Galina Badicu: Academy of Economic Studies of Moldova, Chisinau, Republic of Moldova

European Journal of Accounting, Finance & Business, 2024, vol. 12, issue 1, 48-54

Abstract: In an increasingly globalized and complex world, the efficient management of the activity of economic entities becomes a vital necessity for achieving success and competitiveness in the market. Accounting policies are a crucial aspect of this management, as they directly influence how financial information is presented, interpreted and used within organizations. To ensure efficient management of the activity, economic entities must adopt the appropriate accounting policies that correctly reflect their financial situation and performance. The refinement of these accounting policies becomes essential in the context of a continuously evolving economic environment and increasingly rigorous requirements of users of financial information. It has already been proven that the very presentation of business transactions can be done in completely different ways, leading to varied financial results. Having a considerable source of bibliographic sources and international normative acts, a qualitative analysis can be carried out regarding the utility of accounting policies for financial reporting.

Date: 2024
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