THE ACCOUNTANT’S AVERSION TO RISK WHEN CHOOSING ACCOUNTING POLICIES

Apply

THE ACCOUNTANT’S AVERSION TO RISK WHEN CHOOSING ACCOUNTING POLICIES

Journal Title: Challenges of the knowledge society ( Provocari ale societatii cunoasterii ) - Year 2019, Vol 11, Issue 13

Abstract

The accounting community is currently focusing on harmonizing accounting rules by creating a common accounting language at global level to increase the comparability and relevance of financial reporting information. The current requirements of reporting standards for presenting a true and fair image of the financial position have evolved from the practical necessities imposed by the activity of the economic entities. In this respect, it is necessary to reposition the regulations which define the concrete techniques for assessing the items presented in the balance sheet and in the income statement. In the accounting field, financial information is important for the users. It can be influenced by accounting policies, by the methods of valuation chosen by the specialist. This article is a point of view on the requirements of financial reporting, with particular emphasis on the valuation for the presentation of balance sheet and income statement. In Romania, in the absence of a tradition in this field, there is a risk aversion when it comes to evaluating for the purpose of presentation in the financial statements. We included in these paper an advisory study involving professional accountants and presented their point of view in the field of valuation at different times of the financial year. One of the objectives of these study is to clarify underline the importance to choose the accounting policies with no implications of taxes rules. The accountant have to understand that in our days accounting policies must be independent

Authors and Affiliations

Mariana GURĂU, Maria Zenovia GRIGORE

Keywords

ORGANIZATIONAL PERFORMANCE AND LEARNING FROM THE PERSPECTIVE OF AN OPEN SYSTEM

A learning organization must be constituted in a dynamic environment of constant changes, prepared to engage and interact in systemic and systematic way with the context in which it operates. The present work intends to...

THE LEGAL DIFFICULTIES GENERATED BY THE ALTERATION OF THE PROVISIONS REGARDING THE HEARING OF WITNESSES BY THE COURT WITHIN THE CIVIL PROCEDURAL CODE

Since Law no. 310/2018 has altered the legal provisions of the Civil procedural coderegarding the way in which witness testimony is to be obtained, a certain number of difficulties have been generated due to the fact tha...

EP ID EP591032
DOI -
Views 132
Downloads 0