POSSIBILITIES TO PRESENT THE REASSESSMENT SURPLUS CONSIDERING THE NATIONAL AND INTERNATIONAL REFERENCE SYSTEM

Paliu – Popa Lucia and Cosneanu Lavinia
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Paliu – Popa Lucia: CONSTANTIN BRANCUSI UNIVERSITY OF TARGU JIU, ROMANIA
Cosneanu Lavinia: CONSTANTIN BRANCUSI UNIVERSITY OF TARGU JIU, ROMANIA
Authors registered in the RePEc Author Service: Lucia Popa Paliu

Annals - Economy Series, 2019, vol. 2, 11-16

Abstract: Due to the fact that the economic decisions are taken by users based on an entity's financial statements, the incomplete description of the economic phenomena within them as a result of applying different accounting regulations to the same entity, over the same reporting period, may influence their behavior. From this perspective and taking into account the major importance of the full description of the economic phenomena in the financial statements of an entity - in the context of fulfilling the fundamental qualitative characteristic of accurate representation of what the financial information proposes to represent, we considered useful to carry out a study referring to the full disclosure of information about the reassessment surplus that is transferred to reported result both if as the asset is amortized and when the asset is derecognized (sold or disposed of), depending on the treatment stipulated by the entity in its own accounting policies. In this respect, we will perform an analysis to ensure the accurate representation of the economic phenomena related to the reassessment surplus that is transferred to the reported result from the point of view of their completeness and we will address issues related to ensuring full accounting record, depending on the national or international reference.

Keywords: revaluation; complete information; accounting regulations; national reference; international reference (search for similar items in EconPapers)
Date: 2019
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