The Financial-Economic Communication at International Level

Abstract

The transparency of the financial situations is ensured by the presentation and the completion of the necessary information in order to make economic decisions for a wide range of users; compliance with the IFRS leads to the improvement of the quality of the information in the financial statements - quality characteristics such as: relevance, credibility, comparability, intelligibility of the economic - financial information are attributed and make that the information presented satisfy the requirements of the users. In the decision making process, the transparency of the information generating process includes a few centers of decision. We consider that they can determine the quantity of the information supplied. Opportunity - we can say that a delay in financial reporting can improve the credibility compared to the cost of the relevance of the information; the relation cost-benefit - the benefits resulted based on the information should pass the cost of supplying it; the balance of the qualitative characteristics - for meeting the objectives of the financial statements and in order to be adequate in a certain field, the information suppliers should draw up an adequate balance between the qualitative characteristics. The fair view of the balance sheet can be considered as certain regularity compared to an optimum administration of the accounting options that have an impact on the size or the presentation of the result or that improves the presentation of the balance sheet and the cash flows. The quality characteristics of the information presented in the financial statements that ensure the utility, can be analyzed comparatively, both from the point of view of the American conceptual frame FASB and from the international one IASB. According to the American conceptual frame FASB the users of the financial information want this information to be useful in economic decisions making; in these conditions the information must be significant, starting from the premises that the users of these information have enough knowledge in the economic field in general and in the financial- accounting field in particular. According to the FASB, general restrictions, as a criterion to be observed in this frame, the information will be presented only if the associated benefits are greater than the costs of obtaining them. Regarding the specific qualities of the users, two characteristics are essential from the point of view of the users, in the context of both the conceptual frames and that is: the utility of the information for the economic decision making process, their intelligibility - in the context where the users have sufficient financial knowledge. Concerning the primary characteristics, according to FASB, the relevance of the information allows the decision person to forecast the events, to confirm or to correct the perspectives; so we can state that it has a predictive value and it is opportune.