THE IMPORTANCE OF TANGIBLE FIXED-ASSETS REVALUATION: A COMPARISON BETWEEN ROMANIAN ACCOUNTING REGULATIONS AND THE IPSAS 17 ‘PROPERTY, PLANT AND EQUIPMENT’

Nicoleta Cristina Matei (), Marin Ţole () and Mihaela Andreea Stroe ()
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Nicoleta Cristina Matei: Faculty of Economics and Business Administration, Nicolae Titulescu University, Bucharest, Romania
Marin Ţole: Faculty of Domestic and International Commercial and Financial Banking Relations, Romanian-American University, Bucharest, Romania
Mihaela Andreea Stroe: Faculty of Economics and Business Administration, Nicolae Titulescu University, Bucharest, Romania

CBU International Conference Proceedings, 2017, vol. 5, issue 0, 314-319

Abstract: The purpose of a tangible fixed-assets revaluation is to establish true values for assets and a genuine picture of the financial position and the result of public institutions. This article presents the legislation needed to implement international provisions regarding the accounting system of public institutions, especially those concerning the revaluation of tangible fixed assets. It contains a comparison between the national regulations and guidelines of the International Public Sector Accounting Standard for tangible fixed assets. It highlights the convergences and divergences regarding the accounting treatment for determining the initial value of tangible fixed assets, the setting out of the reassessed value, the accounting treatment applied to the revaluation results, and the achievement of a revaluation surplus. It also describes the manner in which the revaluation of tangible fixed assets can influence the financial and patrimonial position of a public institution

Keywords: tangible fixed-assets revaluationinitial value; fair value; financial position; result of public institutions (search for similar items in EconPapers)
JEL-codes: M41 (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:aad:iseicj:v:5:y:2017:i:0:p:314-319

DOI: 10.12955/cbup.v5.944

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