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The Importance Of The Adoption And Application Of Accounting Policies Transition Countries With Regard To Companies In Serbia

Author

Listed:
  • ZELJKO GRUBLJESIC

    (PENSION FUND, OFFICE OF PRIJEDOR, VOZDA KARAĐORĐA 2, 79101 PRIJEDOR, BOSNA I HERCEGOVINA)

  • DALIBOR PAVLOVIC

    (HEALTH INSURANCE FUND OF THE REPUBLIC OF SERBIAN, OFFICE OF PRIJEDOR, BOSNA I HERCEGOVINA)

  • RATKO GARIC

    (CRCD, NEMANJINA 60, 74000 DOBOJ, BOSNA I HERCEGOVINA)

  • RAJKO MACURA

    (BANJA LUKA COLLEGE, MILOSA OBILICA 30, 78000 BANJA LUKA, BOSNA I HERCEGOVINA)

  • VESNA PETROVIC

    (UNIVERSITY UNION NIKOLA TESLA, CARA DUŠTANA 62-64, 11000 BELGRADE, SERBIA)

Abstract

Accounting policy should be seen as a framework within which policy is formed to keep business events with the primary objective of increasing safety, especially financial reporting of management. Some management companies is who is responsible for the end result of the economic activity of enterprises run by. To be able to reliably managed by the company shall have a built in system management and logging of all activity in the company, it is necessary to respect the recommendations of the internal control and audit and external audit recommendations. The accounting policy is closely related to the implementation of IAS/IFRS, which are more practical use in the Republic of Serbia starting from 2002. Greater application of these standards, companies must make changes to the accounting policies as it begins to implement the increasing number of requirements of the standard in the field of increase of caution, especially in the context of recognition and accreditation. Practically the back door is introduced replacing "the concept of historical cost" (caution), "the concept of fair value" (neutrality). The emergence of large financial and global crisis of 2008, a growing number of actors want to be informed through the financial statements of the real and the real situation in the companies, which are trying to raise the level of protection above all creditors and investors. Also in the first half of 2013, and the state wants to ensure protection management in the public sector and imposes solutions obligatory presence of Internal Auditors of the public sector in public enterprises.

Suggested Citation

  • Zeljko Grubljesic & Dalibor Pavlovic & Ratko Garic & Rajko Macura & Vesna Petrovic, 2016. "The Importance Of The Adoption And Application Of Accounting Policies Transition Countries With Regard To Companies In Serbia," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 1, pages 82-86, February.
    • Handle: RePEc:cbu:jrnlec:y:2016:v:1:p:82-86
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    References listed on IDEAS

    as
    1. Niclas Hellman, 2008. "Accounting Conservatism under IFRS," Accounting in Europe, Taylor & Francis Journals, vol. 5(2), pages 71-100, December.
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