General Accounting – Obligation or Information Needed in the Current Economic Context

Abstract

Abstract General accounting generates information that, when processed and analyzed, is designed to contribute to the development of the entity, to substantiate decisions, to achieve management functions. Thus, general accounting is not a purpose in itself, is not just “something to be done deriving from regulations” but is useful, providing the working language within organizations. Based on these considerations, the main opportunities offered to the users of the information provided through the general accounting were synthesized, even in the light of the standardization imposed by the regulations, and in this context there are evidenced situations of favorable reporting to the entities and their effects. Is general accounting an obligation or an informational necessity? In our opinion, we consider that the informational need is obvious, the managerial decisions or those adopted by the external users having, in most situations, financial effects reflected in the mandatory reports. Thus, general accounting becomes a key factor in making decisions in the current economic context. The research also focused on the analysis of the opportunity to provide accounting information, a survey carried out on a sample of 301 entities in the Central Region.