Trends in the Development of Machinery and Associated Technology ” TMT 2009 , Hammamet , Tunisia , 16-21 October 2009 HYSTORICAL CONCEPT AND BUSINESS REQUIREMENTS ; DISCREPANCIES IN INFORMATION DESIGN
International Accounting Standards applications in Bosnia and Herzegovina mostly deal with automatic data collecting and processing for financial accounting and inventory accounting purposes. Some of accounting functions like managing sales, banking, purchase, manufacturing, budgeting, financial management and customer relations, of considerable importance for business performance management, are not directly implicated. In narrower sense this fact leaves management blind in regard to measuring, planning and strategic decision making. Accountants and financial officers do not manage to create information out of collected data automatically or do so developing own ways of gathering information and preparing for strategic management decisions.