THEORETICAL AND PRACTICAL FEATURES OF THE "FINANCIAL INFORMATION QUALITY" CATEGORY

Abstract

The paper attempts to draw attention to the relationship between theory and practice, a tendency to replace the sphere of theory with worldwide (European) regulations. The problem is discussed with reference to the financial information quality category interpreted in the light of theory and global accounting regulations. In the paper, financial information is treated as a product of accounting and it is characterized on the background of accounting aim. The quality of financial information is presented in the light of the theoretical qualitology framework and world accounting regulations. Comparison of approaches in this respect in the sphere of theory and practice allows to clearly recognize the tendency to build variables, pragmatic category concepts. It leads to reflection on the appropriate relations that should occur between the theoretical achievements and practical regulations.