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Journal of law and social sciences of the Law Faculty of University J.J. Strossmayer in Osijek = Zeitschrift für Rechts-und Sozialwissenschaften der Fakultät für Rehtswissenschaften der Universität J.J. Strossmayer in Osijek = Journal des sciences juridiq, Vol. 34 No. 3-4, 2018.

Professional paper

https://doi.org/10.25234/pv/5997

THE EMERGENCE OF “TRUE AND FAIR VIEW” PRINCIPLE IN ACCOUNTING WITH SPECIAL REGARDS TO THE PROVISIONS OF THE HUNGARIAN ACCOUNTING ACT

Zoltán Zéman ; Full professor, Head of Business Studies Institute, Szent István University, 2100 Gödöllő, Páter Károly utca 1., Hungary.

Full text: croatian pdf 10.673 Kb

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Abstract

Accounting is playing an important role in ensuring the optimal operation of business entities. The field itself has a long history within the jurisdiction of different countries, however, its international aspects became more dominant with the emergence of multinational corporations. The aim of the study is to give a brief overview of the proliferation of the “true and fair view” principle, which originated in the Anglo-American accounting rules. The study examines international, European and domestic development of accounting rules. Special mention is also made regarding the provisions of the Hungarian Accounting Act. It can be concluded that we can find a convergence in the development of accounting principles on a worldwide level, owing to the needs of the global economy and the international accounting standards.

Keywords

accounting; investment; accounting standards; law and economics

Hrčak ID:

214261

URI

https://hrcak.srce.hr/214261

Publication date:

31.12.2018.

Article data in other languages: croatian

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