3 Quality of earnings as one of the objectives of financial reporting of public companies
3.1 Qualitative characteristics of financial statement information
Social and economic development has caused an increase in the degree of linkages between businesses and their environment. This results in a mutual need for the circulation of financial information between economic entities and their environment – in the form of feedback. Since the 19th century, the main recipients of information included in financial statements have been business owners, who themselves have been making managerial decisions in those entities. In the 20th century, the development of the financial market led to the formation of new groups interested ...
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