Financial Accounting. Relevance and Reliability.

Financial Accounting. Relevance and Reliability. Dissertation example
Masters
Dissertation
Finance & Accounting
Pages 14 (3514 words)
Download 0
The main objective accounting policies and standards is to produce fair valued accounting information that is reliable and relevant to the purpose of the financial statements. Financial information of any company is presented in financial statements. …

Introduction

Financial information of any company is presented in financial statements. Financial statements are the main components of company’s annual report. These statements need to have fairly representation of the financial details which is responsible for the decision making process of the investors, suppliers, creditors etc. relevance and reliability are two most important characteristics of financial statements of any organizations. These two factors determine the quality of financial statements. The main purpose of the financial reporting is to provide fairly valued and audited financial details of company for its stakeholders. According to these settlements the actual; worth, performance, profitability, growth rate etc are determined. ...
Download paper
Not exactly what you need?

Related papers

Relevance and Reliability
The performance and competence of the management can also be judged to a great degree. Financial reporting that is done according to the standards defined by the IASB ensures that a very helpful analysis is available to compare a company’s performance with its own history and with the other companies. This helps a myriad of users in making crucial economic decisions. Financial statements are…
Finance and Accounting Essay: Advanced Financial Accounting
There were some recent changes made in IAS 19 during June 2011 by the IASB and it has a significant impact on the accounting procedures to be followed by the entities regarding defined benefit schemes in the form of pension funds. The time was just right for these changes to take place because it was long awaited by people for IASB to make such changes. …
Contribution of relevance and reliability on financial reporting.
Main objective of accounting policy is to produce fair valued accounting information that is highly reliable and relevant to the purpose and objectives of financials statement. Financial statements are the most important components of annual report that all public limited companies publish each year for the stakeholders of the company. The financial statements need to be the fair and ethical…
Financial and Accounting Questions
include a systematic representation of all the financial transactions carried on by an organization. These financial transactions are first identified, recorded and then communicated to the interested users in the form of financial statements. The users can be either internal managers of the organization or the outsiders like the stakeholders of the company (Kimmel, 2011, p.5-6). Out of many uses…
The Qualitative Characteristics of Relevance and Reliability
IASB has set standards for financial reporting which ensure that the reporting is done according to the set principles by all the companies. This helps the users of financial statements in making crucial economic decisions as there is no ambiguity due to different accounting styles. The standards ensure that a company provides all the relevant information that influences the financial needs of the…
Unified Financial Accounting Standards
Unified Financial Accounting Standards …
Need to do a critical review on the article: Power, M (2010) 'Fair value accounting, financial economics and the transformatio
The article concludes that four conditions necessitated the significance of fair value accounting. Summary The author draws from several summaries and analyses to discuss the debate about fair value. The discussion focuses on how the notion of accounting and reliability emerged and was articulated before the financial crisis. Further, the paper examines the rise of financial economics as a…