The characteristics of accounting information and its impact on the quality of financial reports in Libyan commercial banks: A field study on commercial banks operating in the city of Tarhuna

Abstract

This study aims to identify the impact of accounting information characteristics on the quality   of financial reports issued by commercial banks operating in Tarhuna. To achieve the study's   objectives, the researchers collected primary data using a scientifically sound questionnaire,   which was then designed and developed based on previous references, research, and studies  relevant to the study topic. The questionnaire was distributed to the study population,      consisting of bank managers, heads of accounting departments, audit office managers, and  accountants from three banks (Al-Jumhouria, National Commercial, and North Africa). The  questionnaire was fully returned (100%) The researchers used a suite of statistical methods and the SPSS statistical software program to analyze the collected data. The most important finding of the study was that the characteristics of accounting information—namely, reliability, understandability, comparability, and relevance have a significant impact on the quality of financial reports issued by commercial banks operating in Tarhuna. The most important recommendations of this study were to ensure that financial statements are prepared in accordance with the characteristics of accounting information, and that this information is presented in financial reports in a manner appropriate to the level of understanding of external users. Furthermore, it is essential that the information conforms to generally accepted accounting principles and that it allows for comparability across different financial periods for the same bank.