A Lecturer From Collage Of Administration And Economics /Karbala University (Dr. ASAAD MOHAMMED ALI WAHHAB and Dr. KARRAR TALIB OUDAH AL-BATTAT) Has Published A Scientific Study About Requirements For The Quality Of Financial Statements Of Stock Companies

In
XXXVI International Scientific and Practical Conference, Melbourne, Australia-ICSRD2024

Abstract: The process of forming financial statements based on accounting information characterizing the results of economic activities carried out by an organization helps to get an idea of its financial condition and cash flow, regardless of the effectiveness of its activities. The importance of financial reports published by the company lies in the fact that they show the results of its activities, which allows the company’s management to make economically sound management decisions. These reports also allow economists to determine the company’s market position. Achieving high-quality financial reports requires compliance with a set of requirements. For example, ensure that the information in the financial statements is correct, complete, and relevant to the company’s activities. Financial statements allow users to make decisions based on an objective and unbiased view of the organization’s assets, liabilities, and financial performance. In this paper, we will consider the requirements for the quality of financial statements of stock companies and explain the mechanism of influence of each requirement on the quality of financial statements.