Possibilities to Improve the Quality of Accounting Information

Lector univ.dr. Tinta Alice, Prof.univ.dr. Munteanu Victor and Lector univ.dr. Zuca Marilena ()
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Lector univ.dr. Zuca Marilena: Universitatea Româno- Americana Bucuresti

Ovidius University Annals, Economic Sciences Series, 2010, vol. X, issue 1, 1859-1865

Abstract: Quality requirements of accounting information can be derived implicitly from the fundamental principles of accounting practices stipulated under the Law of accounting. Based on such legal frame, according to which the accounting should give an accurate picture of economic reality, we can conclude that quality accounting information is information obtained by the rules on property valuation and other accounting rules and principles. Quality is defined by a set of attributes that determines the usefulness of information in decision making. The four main features are: comprehensibility, relevance (significance), credibility (reliability) and comparability. In its search for a true image, accounting can and should produce qualitative improvements in its information supply. Growing demands of internal and external users require such improvement.

Keywords: globalization process; quality; comparability; financial forecast. (search for similar items in EconPapers)
JEL-codes: M41 M42 (search for similar items in EconPapers)
Date: 2010
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