Aspects Regarding the Accounting Policies of Entities
Author:
Rodica BĂLĂŞOIU, Ph. D. Student; Adriana Claudiţa GHIMIŞ, Ph. D Student; Alexandrina Teodora BORFOAIA, Ph. D Student
JEL:
M 410
DOI:
Keywords:
accounting policies, choice of accounting methods, creative accounting, financial statements
Abstract:
At present, the accounting community focuses on the harmonization and convergence of the accounting norms, on the achievement of a common accounting language at the global level, for the purpose of increasing the comparability and pertinence of information in the financial reports.\r\nA general global framework of financial reporting ensures a higher degree of comparability of the financial information, ensures the quality and transparency of the financial information, and increases the user’s confidence in the accounting information.\r\nFor the purpose of creating such a reporting frame, targeting the reduction of the creative accounting practices and of accounting fraud, accounting research focuses on studies regarding the uniformity of the corporate governance practices between the issuers of different market sectors, the uniformity of accounting policies and practices, the stating of interpretative provisions, in order to allow the uniformity of the accounting policies related to completely new operations, which are, in essence, ignored by the current practices, the reduction of the options allowed by the accounting policies and their interpretative delimitation.\r\n