Abstract:
Ideally, financial statements should reflect an accurate picture of a
company’s financial condition and performance. The information should be
useful both to assess the past and predict the future. The sharper and clearer
the picture presented through the financial data and the closer that picture is
to financial reality, the higher is the quality of the financial statements and
reported earnings. Many opportunities exist for management to affect the
quality of financial statements. Thus, the accounting information has to
respect the quality condition. The opinion of auditors depends to accounting
information quality.
The international accounting conceptual framework presents the
qualitative characteristics of accounting information: understandability,
relevance, reliability, and comparability. Understandability implies not only
that selected information must be intelligible, but also that the users can
understand it. Relevance means selecting the information most likely to aid
users in their economic decisions. Reliability implies that the accounting is
directed toward the common needs of users, rather than the particular needs
of specific users. Comparability implies that differences should not be the
result of different financial accounting treatments.
In Romania, the accounting low was stipulated a few think about the
quality accounting information. Recent, the quality of accounting information
was redefined, that is on improved thanks to international financial reporting
standards. In this study we analyze the evolution of quality accounting
information in our country for the theoretical examples and we propose the
solutions for improved it. The research results manage to next conclusion: it
isn’t exists a standard hierarchy of accounting information quality
characteristics. The international accounting frameworks present the
different points of view.
