1. bookVolume 59 (2021): Issue 3 (September 2021)
Journal Details
License
Format
Journal
eISSN
2217-3668
First Published
15 Apr 2014
Publication timeframe
4 times per year
Languages
English
access type Open Access

Accounting Policies in the Function of Quality Assessment of Financial Statements

Published Online: 30 Dec 2021
Volume & Issue: Volume 59 (2021) - Issue 3 (September 2021)
Page range: 357 - 373
Received: 26 Jan 2021
Accepted: 05 Mar 2021
Journal Details
License
Format
Journal
eISSN
2217-3668
First Published
15 Apr 2014
Publication timeframe
4 times per year
Languages
English
Abstract

Financial statements represent an instrument by which relevant information about a company is passed on to its users. Based on the information presented in the financial statements, i.e. information on the financial position and performance of the company, and generated cash flows and capital, users make business decisions. Specific accounting policies serve as the basis for the preparation of quality financial statements. Management is responsible for the preparation and presentation of financial statements and selects accounting policies. Although simple, the issue of choosing the accounting policies can be extremely delicate and complex. Besides management, there are other stakeholders who may be affected by this issue. As a consequence, there are complex relationships that affect the choice of accounting policies, and thus the quality of financial statements.

Keywords

JEL Classification

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