THE ASSOCIATION BETWEEN ACCOUNTING STANDARDS, THE LEGAL FRAMEWORK AND QUALITY OF FINANCIAL REPORTING

Jana Cvijić

Authors

Jana Cvijić Belgrade Business School, The Higher School of Professional Business Studies, Belgrade

Abstract

The field of accounting is regulated by legal, professional or internal regulations. Accounting provides useful information to decision-makers. In the way the business environment has been changed, so have changed the accounting standards governing the presentation and disclosure of information. For many of the world’s capital markets, the application of international accounting standards is required for the financial statements of the so-called public interest. The aim of this study is to highlight the regulatory framework referring to the international accounting standards applicable in the world as well as in our country. The basis of this research makes the socalled “desk” research of the relevant academic literature dealing with the standardization in accounting, including the legal and professional regulations governing this area. In addition, the comparative method was used in the paper – there has been researched which level of the implementation of the international accounting standards was reached both in the private and public sector.

References

Alexander D., Nobes C. (2010). Financijsko računovodstvo: međunarodni uvod, Mate, Zagreb

Beke J. (2013). International Accounting harmonization: adopting universal information methods for a global financial system, Palgrave Macmillan

Dragić Z. (2015). Računovodstvo, Beogradska poslovna škola, Beograd

Jeremić, N., Bogdanović, M. (2014). Teškoće u upravljanju finansijskim rizicima i primeni MRS/MSFI realnog sektora u Republici Srbiji, Finiz, Singidunum University International Scientic Conference

Knežević, S., Stanković, A., (2012). Informacioni sistem materijalnog knjigovodstva u funkciji menadžmenta, Računovodstvo, 9-10 :20-30, Savez računovođa i revizora Srbije, Beograd

Milojević, M. M. (2015). MSFI za MSP kroz pitanja i odgovore, http://www.ief.rs/wp-content/uploads/2015/02/MSFI-ZA-MSP.pdf, datum pristupa 23.2.2017. godine

Mitrović, A. (2016). Accounting Information Systems as a Support to Financial Reporting of Companies. Paper presented at Sinteza 2016 - International Scientific Conference on ICT and E-Business Related Research. April 22-23, 2016. godine, Beograd, Univerzitet Singidunum, str. 407-411

Mitrović, A., Vučić V. (2015). Računovodstveno informisanje u funkciji podrške poslovnom odlučivanju u preduzeću, Menadžment u hotelijerstvu i turizmu, 3(2), 89-95

Obradović V. (2014). Nekonzistentna primena međunarodnih standarda finansijskog izveštavanja, Ekonomski horizonti, 16 (3), 239-251

Radebaugh, L., and S. Gray (2007). International Accounting and Multinational Enterprises, 4th Edition, London

Sawani, A. (2009). The changing accounting environment: international accounting standards and US implementation. Journal of Finance and Accountancy, 1

Šipovac, R., (2015). Javne fnansije i fnansijsko pravo, Univerzitet Privredna akademija: Pravni fakultet za privredu i pravosuđe, Novi Sad

Vukelić, G. (2010). Finansijsko računovodstvo, Beogradska Bankarska Akademija, Fakultet za bankarstvo, osiguranje i finansije

Zakon o računovodstvu, Sl. glasnik RS, br. 62/13