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The Faithful Image And Fair Value - Main Objectives In Inssuring Transparency Of The Financial And Accounting Information

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  • MARILENA-ROXANA ZUCA

    (Romanian-American University)

Abstract

The main concern of IASB and FASB is to create a modern system that informs quickly and honestly the users of financial and accounting information, as well as an active concept in order to give an objective image on an economic entity as a whole. The Romanian economy needs a similar image, a real and an objective one that supplies honest information, the basis for decisions leading to adopting a strategy according to the economic truth at all its levels. An important position in making financial statements is the concept of faithful image that supplies the necessary security and prestige. The faithful image concept is tightly linked to the concept of fair value, both being in continuous movement and influencing each other.

Suggested Citation

  • Marilena-Roxana Zuca, 2015. "The Faithful Image And Fair Value - Main Objectives In Inssuring Transparency Of The Financial And Accounting Information," Romanian Economic Business Review, Romanian-American University, vol. 9(2), pages 460-468, December.
    • Handle: RePEc:rau:journl:v:10:y:2015:i:2:p:460-468
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    File URL: http://www.rebe.rau.ro/RePEc/rau/jisomg/WI15/JISOM-WI15-A17.pdf
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    1. repec:dau:papers:123456789/1858 is not listed on IDEAS
    2. Jean-François Casta & Bernard Colasse, 2001. "Juste valeur," Post-Print halshs-00669417, HAL.
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