Cost and Benefit of Accounting Information in Slovakia: Do We Need to Redefine Relevance?
Cost and Benefit of Accounting Information in Slovakia: Do We Need to Redefine Relevance?

Author(s): Miloš Tumpach, Anna Baštincová
Subject(s): Business Economy / Management, Accounting - Business Administration
Published by: Masarykova univerzita nakladatelství
Keywords: financial reporting; relevance; Slovakia;
Summary/Abstract: There are different groups of users of business information, whose interests are more often than not in mutual contradiction. As a result, it is almost impossible for general purpose financial statements to serve the best the interests of all stakeholders considered. Since the end of WWII, the accounting rules in Slovakia has been prescribed in a very detailed way by the government which on its own is one of the interested parties. In our paper we have examined whether, after 50 years, the current system of national financial reporting framework for businesses is not unnecessary context and if itis able to provide at least some information considered to be relevant by its apparent key users.

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