ANALYSIS OF REPORTING ON PROPERTIES ACCORDING TO THE PROFESSIONAL REGULATIONS IN ORDER TO IMPROVE THE PERFORMANCE OF FINANCIAL REPORTING

Abstract

The aim of the paper is to indicate the quality of disclosure of mandatory information on property according
to the requirements of the International Accounting Standard 16 and the International Accounting Standard 40.
Professional regulations define a number of mandatory disclosures; however, their form is not proposed. In the first
part of the paper, disclosure models were pointed out as examples of good practice. The quality of financial reporting
according to stated requirements of the professional regulation was examined on the basis of a sample of 216 financial
statements of companies registered on the territory of AP Vojvodina in the period 2020-2021. The results of the
descriptive analysis of the scope of disclosure indicate that companies disclose information on properties to a greater
extent in accordance with IAS 16 in relation to the requirements of IAS 40. In order to improve the quality of financial
reporting, the creators of financial statements must fully comply with the requirements for providing information to
end users in an adequate manner.