Evaluation of the utility of the financial information elaborated by the small company: An empiric study
Patricia Milanés Montero
Joaquín Texeira Quirós
The important economic and social role that carry out the small entities in Spain and in all Europe and the current strategy of harmonising the financial information, make worth the analysis of the degree of execution of the objective of utility of the Annual Accounts elaborated according to the domestic standards. In this context, we provide empirical evidence about it by means of a questionnaire sent to the managers of these companies. The results obtained show that the financial information elaborated in conformity with the domestic accounting standards doesn't complete its objective of utility and that the causes of this that can be responsibility of the managers are their mentality of considering the accounting as a cost instead that an investment and their scarce formation in accounting.
small company; financial information; useful, accounting harmonising.
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