THE ROLE OF ACCOUNTING INFORMATION IN MAKING ECONOMIC DECISIONS
Autor (i): Dorina, Lută
JEL: M41
Cuvinte cheie: accounting regulations, IAS, financial status, performance, assets, impairment.
Abstract:
Emphasizing the globalization process of national economies, the integration of financial markets and information systems, the need to have unrestricted access to international capital markets imply the protection of investors through information that includes comparable data; access to international funding sources, possibility for pertinent performance appraisal and decision-making. Applying international financial reporting standards by economic entities involves changes in the manner of recognition, measurement, impairment, in structures of financial statements. In pursuit of objectives, the management of an entity must apply accounting policies so that their financial statements should comply with all provisions of each applicable international accounting standard and each applicable interpretation.
Emphasizing the globalization process of national economies, the integration of financial markets and information systems, the need to have unrestricted access to international capital markets imply the protection of investors through information that includes comparable data; access to international funding sources, possibility for pertinent performance appraisal and decision-making. Applying international financial reporting standards by economic entities involves changes in the manner of recognition, measurement, impairment, in structures of financial statements. In pursuit of objectives, the management of an entity must apply accounting policies so that their financial statements should comply with all provisions of each applicable international accounting standard and each applicable interpretation.
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