FINANCIAL STATEMENTS – MAIN SOURCE OF INFORMATION FOR THE PROCESS OF MANAGEMENT AND DECISION MAKING

Marilena-Roxana Zuca ()
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Marilena-Roxana Zuca: Romanian-American University, Bucharest, Romania

Journal of Information Systems & Operations Management, 2016, vol. 10, issue 1, 121-130

Abstract: Managerial decisions have certain aspects that are different from the analyzed perspective. From the point of view of human resources to be hired, the management of the entity takes decisions based on the amounts investes in resources and exploitation transactions as well as a proper financing mix. These are the reasons for which accuracy and the level of detail in information has to be at a higher level in order to support the business and it increase its value. The quality of decision-making is dependent to a large extent on the amount and quality of information upon which the decision is based on, which, once adopted is considered the most important process that takes place in the management of an entity. This, more so today, as IFRS generated changes in the conceptual sense of fundamental elements of financial reporting and results, as well as increased volatility of indicators results, leading to consolidation of the interest for information, analysis and decision making.

Date: 2016
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