Study on the Application of the Prudence Principle in Accounting of Credit Institutions

Riana Iren Radu and Violeta Isai ()
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Violeta Isai: Dunarea de Jos University of Galati, Romania

Economics and Applied Informatics, 2014, issue 1, 69-74

Abstract: With effect from 1 January 2012, according to The NATIONAL BANK of ROMANIA No. 27/2010, International Financial reporting standards (IFRS) have become the basis of the accounting system used by credit institutions in Romania. In this context, the regulatory framework relating to the adjustments for impairment of financial assets other than loans and securities is given by IAS39 and IAS 37. In this paper I propose to develop a study on the application of the prudence principle in accounting of credit institutions, a study, which will be the main issues of taxation and accounting implementation of prudent credit institutions.

Keywords: Principle of prudence; Provision; Credit; Fiscal measures (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:ddj:fseeai:y:2014:i:1:p:69-74

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