 Impact of IFRS on Romanian Accounting and Tax Rules for Fixed Tangibles AssetsJournal of Accounting and Management Information Systems, 2012, vol. 11, issue 2, 243-263 Abstract: Romanian accounting and tax rules have evolved, after 1990, from an almost complete connection to a more and more clear de jure disconnection. One reason for this development is the influence of the international financial reporting standards. Analyzing the relationship between accounting and taxation, we find some interesting evolutions in the field of tangible fixed assets. The current Romanian accounting standards include many detailed rules taken directly from the IAS 16 (the initial recognition and measurement, the revaluation, the depreciation of fixed assets), while the tax law doesn’t follow the same way. Since 2004, the Romanian Tax Code states explicitly that the accounting depreciation is separate from the tax depreciation. However, we found, for Romanian entities listed on Bucharest Stock Exchange, that the accelerated method of depreciation (a tax one) is used sometimes in accounting. More than 80% of the listed entities revalue buildings and we could think this is for tax reasons. Keywords: accounting vs. taxation; RAS vs. IFRS; depreciation; revaluation (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:ami:journl:v:11:y:2012:i:2:p:243-263 Access Statistics for this article More articles in Journal of Accounting and Management Information Systems from Faculty of Accounting and Management Information Systems, The Bucharest University of Economic Studies |
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