The availability of proactive and predictive traits in the interim financial statements of companies listed on the Iraqi stock exchange

الملخص EN

The nature of accounting is naturally responsive to the rapid economic changes represented by the opening up of financial markets and heading towards its globalization in recent years.

In spite of the complexity in the nature of business which is provided by truthful and appropriate information that deals with the necessity in having those information to be a timely and appropriate inputs in making a successful rational economic decision.

The essence of accounting is integrated financial information system that does financial reporting of the economic events by providing useful accounting information to its users that are presented in statements and annual financial reports.

In order to the accounting system fulfill its duties towards users and achieve the required synchronization and the need for a fast, proactive and predictive information, the accounting system should make a change in the financial reporting series that represented by the time of accounting disclosure to move from the annual accounting disclosure to the interim accounting disclosure which reduces the degree of uncertainty and activate predictive and proactive ability of the accounting information.

Based on the above, it seems that the annual financial reporting reduces the predictive ability of accounting information and thus reduces the proactive advantage provided by accounting information and so it negatively affects the ability and choices of accounting information users.

Therefore, the problem of the research represents the lack of cooperation companies listed in the Iraqi Stock Market to a specific framework for preparing and reviewing the interim financial reports in accordance with the local rules and interim disclosure of international standards and in a way that achieves the predictive and proactive advantages of accounting information in a way that benefits both shareholders and other stakeholders in these companies and enhances the efficiency of the listed financial market.

Therefore, the theoretical aspect of this research deals with the nature of the interim financial reporting and its role in enhancing the predictive and proactive advantage of the accounting information.

The practical aspect studies the status of the interim financial reporting of a sample of companies listed in the Securities Iraqi The nature of accounting is naturally responsive to the rapid economic changes represented by the opening up of financial markets and heading towards its globalization in recent years.

In spite of the complexity in the nature of business which is provided by truthful and appropriate information that deals with the necessity in having those information to be a timely and appropriate inputs in making a successful rational economic decision.

The essence of accounting is integrated financial information system that does financial reporting of the economic events by providing useful accounting information to its users that are presented in statements and annual financial reports.

In order to the accounting system fulfill its duties towards users and achieve the required synchronization and the need for a fast, proactive and predictive information, the accounting system should make a change in the financial reporting series that represented by the time of accounting disclosure to move from the annual accounting disclosure to the interim accounting disclosure which reduces the degree of uncertainty and activate predictive and proactive ability of the accounting information.

Based on the above, it seems that the annual financial reporting reduces the predictive ability of accounting information and thus reduces the proactive advantage provided by accounting information and so it negatively affects the ability and choices of accounting information users.

Therefore, the problem of the research represents the lack of cooperation companies listed in the Iraqi Stock Market to a specific framework for preparing and reviewing the interim financial reports in accordance with the local rules and interim disclosure of international standards and in a way that achieves the predictive and proactive advantages of accounting information in a way that benefits both shareholders and other stakeholders in these companies and enhances the efficiency of the listed financial market.

Therefore, the theoretical aspect of this research deals with the nature of the interim financial reporting and its role in enhancing the predictive and proactive advantage of the accounting information.

The practical aspect studies the status of the interim financial reporting of a sample of companies listed in the Securities Iraqi Market.