THE ACCOUNTANT’S AVERSION TO RISK WHEN CHOOSING ACCOUNTING POLICIES
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...
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| Format: | Article |
| Language: | English |
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Nicolae Titulescu University Publishing House
2019-05-01
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| Series: | Challenges of the Knowledge Society |
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| Online Access: | http://cks.univnt.ro/download/cks_2019_articles%252F5_economic_sciences%252FCKS_2019_economic_sciences_012.pdf |
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| author | Mariana GURĂU Mariana Zenovia GRIGORE |
| author_facet | Mariana GURĂU Mariana Zenovia GRIGORE |
| author_sort | Mariana GURĂU |
| collection | DOAJ |
| description | 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. |
| format | Article |
| id | doaj-art-beebe821eb604048abc6fe0e02ba4c4b |
| institution | DOAJ |
| issn | 2068-7796 |
| language | English |
| publishDate | 2019-05-01 |
| publisher | Nicolae Titulescu University Publishing House |
| record_format | Article |
| series | Challenges of the Knowledge Society |
| spelling | doaj-art-beebe821eb604048abc6fe0e02ba4c4b2025-08-20T02:50:43ZengNicolae Titulescu University Publishing HouseChallenges of the Knowledge Society2068-77962019-05-0113110411045THE ACCOUNTANT’S AVERSION TO RISK WHEN CHOOSING ACCOUNTING POLICIESMariana GURĂU0Mariana Zenovia GRIGORE1PhD, Lecturer, Nicolae Titulescu University, Bucharest, (e-mail: marianagurau@univnt.ro)PhD, Associate Professor, Nicolae Titulescu University, Bucharest, (e-mail: mgrigore@univnt.ro)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.http://cks.univnt.ro/download/cks_2019_articles%252F5_economic_sciences%252FCKS_2019_economic_sciences_012.pdfaccounting policiesvaluationdisconnectionfinancial statementincome statement |
| spellingShingle | Mariana GURĂU Mariana Zenovia GRIGORE THE ACCOUNTANT’S AVERSION TO RISK WHEN CHOOSING ACCOUNTING POLICIES Challenges of the Knowledge Society accounting policies valuation disconnection financial statement income statement |
| title | THE ACCOUNTANT’S AVERSION TO RISK WHEN CHOOSING ACCOUNTING POLICIES |
| title_full | THE ACCOUNTANT’S AVERSION TO RISK WHEN CHOOSING ACCOUNTING POLICIES |
| title_fullStr | THE ACCOUNTANT’S AVERSION TO RISK WHEN CHOOSING ACCOUNTING POLICIES |
| title_full_unstemmed | THE ACCOUNTANT’S AVERSION TO RISK WHEN CHOOSING ACCOUNTING POLICIES |
| title_short | THE ACCOUNTANT’S AVERSION TO RISK WHEN CHOOSING ACCOUNTING POLICIES |
| title_sort | accountant s aversion to risk when choosing accounting policies |
| topic | accounting policies valuation disconnection financial statement income statement |
| url | http://cks.univnt.ro/download/cks_2019_articles%252F5_economic_sciences%252FCKS_2019_economic_sciences_012.pdf |
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