The Quality of Financial Reporting in the Republic of Serbia

Đukić Tadija Đ () and Pavlović Miloš ()
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Đukić Tadija Đ: University of Niš, Faculty of Economics, Serbia
Pavlović Miloš: University of Priština, Faculty of Economics Kosovska Mitrovica, Serbia

Economic Themes, 2014, vol. 52, issue 1, 99-114

Abstract: High quality financial statements should truly and objectively reveal the financial position, business results and changes of a business entity. Satisfied users of financial statements according to which they make decisions represent the best confirmation of high quality financial reporting. The paper deals with the conceptual framework of financial reporting and with an attempt to create unified and revised conceptual framework as a joint project by FASB and IASB. Moreover, it considers novelties that the framework brings. Also, the paper points to the current state in terms of financial reporting quality in the Republic of Serbia. Furthermore, the paper points to some shortcomings of accounting regulation at the national level as a prerequisite of high quality reporting. Finally, the authors propose certain measures and activities for enhancing financial reporting quality in the current economic and political conditions in the Republic of Serbia.

Keywords: financial reporting; revised conceptual framework; aims of reporting; qualitative characteristics; Republic of Serbia; finansijsko izveštavanje; revidirani konceptualni okvir; ciljevi izveštavanja; kvalitativne karakteristike; Republika Srbija (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:ecothe:v:52:y:2015:i:1:p:99-114:n:7

DOI: 10.1515/ethemes-2014-0007

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