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Possibilities to Improve the Quality of Accounting Information

Author

Listed:
  • Lector univ.dr. Tinta Alice
  • Prof.univ.dr. Munteanu Victor
  • Lector univ.dr. Zuca Marilena

    () (Universitatea Româno- Americana Bucuresti)

Abstract

Quality requirements of accounting information can be derived implicitly from the fundamental principles of accounting practices stipulated under the Law of accounting. Based on such legal frame, according to which the accounting should give an accurate picture of economic reality, we can conclude that quality accounting information is information obtained by the rules on property valuation and other accounting rules and principles. Quality is defined by a set of attributes that determines the usefulness of information in decision making. The four main features are: comprehensibility, relevance (significance), credibility (reliability) and comparability. In its search for a true image, accounting can and should produce qualitative improvements in its information supply. Growing demands of internal and external users require such improvement.

Suggested Citation

  • Lector univ.dr. Tinta Alice & Prof.univ.dr. Munteanu Victor & Lector univ.dr. Zuca Marilena, 2010. "Possibilities to Improve the Quality of Accounting Information," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 1859-1865, May.
  • Handle: RePEc:ovi:oviste:v:10:y:2010:i:1:p:1859-1865
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    More about this item

    Keywords

    globalization process; quality; comparability; financial forecast.;

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • M42 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Auditing

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