The impact of the quality of accounting information on the substantiality of financial forecasting results

Abstract

The effectiveness of the decision-making process is determined by the availability of quality information, its volume and targeted use. This study focused on the issue of the usefulness of accounting information for financial forecasting. The purpose of the article is to determine the value of the quality of accounting information and assess the impact on the validity of the results of financial forecasting. To substantiate the results of the study, the following methods were used: a system method (when establishing cause-and-effect relationships between the components of the information field and the enterprise management model), a survey (when determining the significance of accounting information), expert assessment and the additive convolution method (when implementing a methodological approach to assessing the impact of accounting information on the results of financial forecasting), a tabular graphic method (to present the results of this study). During the study: 1) goals were identified, the implementation of which is ensured by the quality of accounting information from the position of two groups of respondents; 2) cause-and-effect relationships between the components of the information field and the enterprise management model were demonstrated; 3) a methodological approach to assessing the impact of the quality of accounting information on the validity of financial forecasting results is proposed and implemented. The results of the study are as follows: 1) the quality of accounting information is ensured by certain factors, knowledge of which makes it possible to solve the problem of the validity of financial forecasting results, 2) increasing the effectiveness of financial forecasting of accounting information systems requires focusing on the quality of information, the competence of accountants and the quality of information systems, 3) it is necessary to use the opportunities to expand relations between accountants and the management of the companies where they work.