Accounting Policies and Procedures – Theoretical and Practical Connotations in Treating Risks ★

The existence of some accounting policies and procedures, which are adapted to the complexity and the specific of each entity in part, is one of the essential conditions for producing and supplying useful information through the financial statements. Along this goal, the objective of having a “trustworthy image” of the: financial position, assets, liabilities and of the represented performance, imply knowing, understanding and correspondingly applying these in practice. Actually, as instruments of internal control, the accounting procedures, which are adopted for drafting and presenting the financial statements, are applied. Regardless of this, the accounting images obtained in his manner do not always reflect the represented economic reality. In this context, the objective of the carried research has focused on identifying the role of the accounting policies and procedures in treating risks that could affect the utility of the accounting information, respectively the trustworthy image of the financial situation and of the performance of an entity.