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Three Types of Accounting Policies Reflected in Financial Statements. Case Study for Romania

Author

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  • MARIANA GURAU

    (Faculty of Economics Nicolae Titulescu University, Calea Vacaresti, Bucharest, ROMANIA)

Abstract

The objective of financial statements is to give a true and fair view of financial position and of the performance, a true and fair view which will be useful for a wide range of users to take economic decisions. Accounting policies choice involves setting options that generate the best financial and accounting information. The best information must be in agreement with the most accurate image of financial position, performance and changes in financial position and performance. The present paper intends to present three different accounting policies used for the same situations and the results of their implementation. Starting question is: which of the results are the true and fair view?

Suggested Citation

  • Mariana Gurau, 2014. "Three Types of Accounting Policies Reflected in Financial Statements. Case Study for Romania," Global Economic Observer, "Nicolae Titulescu" University of Bucharest, Faculty of Economic Sciences;Institute for World Economy of the Romanian Academy, vol. 2(1), pages 209-221, May.
    • Handle: RePEc:ntu:ntugeo:vol2-iss1-14-209
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