THE IMPORTANCE OF THE QUALITY OF ACCOUNTING INFORMATION FOR BUSINESS DECISION-MAKING

Accounting information is considered to be the most important product of the accounting function of business entities. It is an integral part of financial and accounting reports. In order to be useful, it must be adequately formatted and presented to its users in a timely manner. Without neglecting the fact that accounting information is equally important to external and internal users, the paper focuses on the information needs of internal users, primarily management. Making quality business decisions by people in various management positions in the company must be based on having quality accounting information. A prerequisite for the success of the business decision-making process is the satisfaction of decision-makers with quality information. Information must be understandable and adapted to its users. It is a significant input to the process of producing successful business moves and decisions. The subject of research in this paper is accounting information and its qualitative characteristics, as well as its impact on business decision-making. Using the methods of induction, deduction, analysis, synthesis and description, the aim of the paper is to point out the importance of the quality of accounting information for the process of making business decisions, as well as to present the most significant parameters of their quality. Using the above-mentioned research methods, it is concluded that there is a positive correlation between the quality of business decisions and the quality of accounting information.