ISSN: 1648 - 4460

International Journal of Scholarly Papers


Transformations  in
Business & Economics

Transformations in
Business & Economics

  • © Vilnius University, 2002-2008
  • © Brno University of Technology, 2002-2008
  • © University of Latvia, 2002-2008
Model of Accounting Regulation in Lithuania
Kristina Rudžionienė, Gailutė Gipienė

ABSTRACT. This paper analyses the regulation of accounting system in Lithuania. There are different approaches to accounting regulation. For example, the ‘free market’ approach is against any regulation; it says that each process in the market will be in equilibrium itself. Mostly it is clear that regulation is important and useful, especially in financial accounting. It makes information in financial reports understandable and comparable in one country or different countries. There are three theories of accounting regulation: Public Interest, Capture and Economic Interest Group Theory. They try to solve a question, what should regulate financial accounting in the state: private or governmental sectors.

KEYWORDS: accounting, government policy and regulation, modelling, Lithuania.

JEL classification: M41, M48, P2.

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Scholarly papers Transformations in Business & Economics
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