QUALITATIVE CHARACTERISTICS AND UTILITY OF THE INFORMATION CONTAINED IN FINANCIAL STATEMENTS IN MAKING DECISIONS Cover Image

QUALITATIVE CHARACTERISTICS AND UTILITY OF THE INFORMATION CONTAINED IN FINANCIAL STATEMENTS IN MAKING DECISIONS
QUALITATIVE CHARACTERISTICS AND UTILITY OF THE INFORMATION CONTAINED IN FINANCIAL STATEMENTS IN MAKING DECISIONS

Author(s): Alin Emanuel Artene, Crăciun Sabău, Lucian Ioan Sabău
Subject(s): Economy
Published by: Editura Eurostampa
Keywords: financial statements; relevance; credibility; intelligibility; comparability

Summary/Abstract: Romanian accounting harmonization with European accounting was achieved by European directives, especially the Fourth Directive and the Seventh Directive. This harmonization was made gradually from Finance Minister Order no. 94/2001, which by moving to the vertical balance approach the format of financial statements closer to the Anglo-Saxon than the French. Also, by determining the net asset decisions provides useful information for decisions not only information about patrimonial situation. To be most useful in decision-making process the information contained in financial statements must meet the following quality characteristics: relevance, credibility, intelligibility and comparability.

  • Issue Year: XVII/2011
  • Issue No: 17
  • Page Range: 456-459
  • Page Count: 4
  • Language: English
Toggle Accessibility Mode