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• ACCRUAL BASIS OF ACCOUNTING IN THE HUNGARIAN ACCOUNTING LAW COMPARED TO USGAAP AND IFRS

  Elvira Böcskei

  Adrienn Veit

  Szabina Sőre

  Views:

  158

  The aim of the article is to illustrate the impact of the application of the accrual basis of accounting and matching principle in the financial statements of entities regardless of the accounting system used. The accounting for accruals in different accounting regulations is briefly presented in the paper; in accordance with the Hungarian Accounting Act, US GAAP, and International Financial Reporting Standards (IFRS).

• THE CASH FLOW STATEMENT - AN INDISPENSABLE SOURCE OF INFORMATION FOR INVESTMENT DECISIONS

  24-33

  Elvira Böcskei

  Nikolett Sereg

  Views:

  469

  It has been more than three decades since the first businesses were created in Hungary. Act C of 2000 on Accounting regulates the field of financial accounting. Accounts of enterprises are public, so market participants are provided objective information on their economic, financial, and income situation. Accounting is an internal information system on the one hand and an information system towards the external environment on the other. This duality is primarily the cause of critical comments. For years, there has been controversy over whether the administrative burdens and account-ing rules imposed on enterprises can be too demanding? Parallel to this, there is an open question. What essential information should be published in the accounts, which helps to make grounded decisions for the stakeholders?