CONSIDERATIONS REGARDING THE ROLE OF ACCURATE AND SIGNIFICANT ACCOUNTING INFORMATION IN THE DECISION-MAKING PROCESS

Abstract

Business confidence, risk or profitability are inconceivable without the essential input of accounting information. Most economic decisions are based on accounting information or derivatives thereof. The purpose of the article is to demonstrate that the demand for accounting information has continually changed its sphere of interest, at present it is increasingly focusing on the spectrum of events and phenomena being manifested and their foreseeable evolution. The needs of informing the users find their answer more in the future cash flows than in the accounting profit of the period. Accurate and meaningful accounting information excludes or at least diminishes arbitrariness and ambiguity, establishing a certain rigor in the economic space. The balanced presentation of financial and non-financial information is a key element for managing the transition to a sustainable global economy, combining long-term profitability with social justice and environmental protection.