THE RELATIONSHIP OF THE ACCOUNTING LAW WITH THE MODERN SOCIETY AND THE PRESENT-DAY KNOWLEDGE ECONOMY

Abstract

The relevance of the accounting information in the knowledge of the company’s patrimonial situation is not only a problem of economic theory, but also of accounting law. Beyond the norms regarding the meaning threshold and the axioms of the economic sciences there appear aspects of contractual nature. The most accurate, systematized and representative data can be obtained only from accounting. The managers and members of the Board will want to obtain by this means as much information as possible, sometimes exceeding the natural capacity of the bookkeeping. For such situations, the accounting law as border discipline will have a word to say.

Keywords

• accounting law
• globalization
• owner’s equity
• costs
• IAS/IFRS