Fiscal Cost Management: Means of Using Financial and Accounting Information

The connection between taxation and accounting created by the functionality of the financial and accounting information system of the economic entity can be studied using multiple approach possibilities, of which the most relevant are, in our opinion: the independent operation of taxation vs. accounting; the dependent operation of taxation vs. accounting. Fiscal cost management as means of using the financial and accounting information should expressly respond to the interests of the economic entity under the conditions imposed by the fiscal policies of the state. From a conceptual perspective, fiscal cost management fits within the category of the basic model of an open system, being in direct connection with the environment the economic entity is working in, thus being obtained the feedback, which is a requirement of essence for operation. Such alternative way of representing fiscal cost management within an open system allows the superior use of financial and accounting, and fiscal information while solving issues of an economic nature with a higher complexity degree.