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Accounting Policies And Treatments Of Contingent Assets And Liabilities In Public Institutions

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  • Iuliana Cenar

Abstract

This paper aims to approach an issue that is less common in public institutions, namely the accounting policies and the accounting treatments of contingent assets and liabilities with the goal of sustaining the quality and completeness of financial accounting information, being a culture oriented towards the constant improvement of information quality, without limits to regulating prescriptions. The approached aspects are the following: the role of accounting policies, having as a reference system the accounting standards/rules and the professional reasoning; the need for specific accounting policies; the conceptualization and features of contingent assets and liabilities; the theoretical circumstances in which they are recognized, evaluated and presented in notes to the financial statements; the potential scenarios for the practical applicability of theoretical foundations regarding these probable, uncertain “elements†in public institutions.

Suggested Citation

  • Iuliana Cenar, 2011. "Accounting Policies And Treatments Of Contingent Assets And Liabilities In Public Institutions," Annales Universitatis Apulensis Series Oeconomica, Faculty of Sciences, "1 Decembrie 1918" University, Alba Iulia, vol. 2(13), pages 1-5.
    • Handle: RePEc:alu:journl:v:2:y:2011:i:13:p:5
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    1. Iuliana Georgescu, 2005. "Active si pasive eventuale," Analele Stiintifice ale Universitatii "Alexandru Ioan Cuza" din Iasi - Stiinte Economice (1954-2015), Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, vol. 50, pages 115-119, November.
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      Keywords

      contingent assets; contingent liabilities; accounting policies; probability; risk assessment;
      All these keywords.

      JEL classification:

      • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

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