 ROMANIAN ACCOUNTING ON BOTH SIDES OF THE PRUTLuminita Rus ()
Annals of Faculty of Economics, 2017, vol. 1, issue 2, 221-228 Abstract: : Formerly part of Romania, in the vortex of history, the Republic of Moldova remains part of the Romanian soul, with similarities and differences from multiple domains. Considering the two Romanian-speaking peoples in the literary sense, with Soviet influence is interesting to answer this question: it’s the same language spoken in the accounting? How about the requirement to audit the financial statements of the economic entities? In researching the trends and the prospects of Romania's accounting it has been extensively approached the comparability with Western accounting systems. Today, as a part of the European Union, Romania can boast accounting regulations in line with European directives or even International Accounting Standards. Can we say the same thing about the Republic of Moldova? This paper presents comparatively the accounting regulations of the two countries, highlighting the similarities and the essential differences found. The research has as starting point the intention of the Republic of Moldova to integrate into the European Union, then, I studied a little further the specialized literature on the evolution of accounting, as well as the legislation in the accounting field, both in Romania and Moldova. As far as the Romanian professional accountants are concerned, the final point is the plus of knowledge, even if they are closer regarding the cultural elements and are divided by territorial boundaries. Then, I compared the mandatory elements of the financial audit in both countries. By selecting the key information in this research and then its comparative analysis, we found multiple similarities between the two countries in terms of accounting regulations. Finally, we conclude that there are economic entities in both countries which organize their accounting and are compiling financial statements under International Financial Reporting Standards (IFRS) and economic entities to which national regulations apply. In Romania only, the national accounting regulation complies with the European directives. Although we are more familiar with Romania's accounting regulations, in their application those still raise questions for the accountants. The same thing can be said about the accounting regulations in the Republic of Moldova and the interest they provoke for the professional accountants. For the implementation of the accounting regulations, in the overcoming of legal obstacles, professional accountants on both sides of the Prut speak the same accounting language, have the same interest, even if they do not have the same rules of play in full. Keywords: accounting regulatins; accrual accounting; International Financial Reporting Standards (IFRS); audit; financial statements (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:ora:journl:v:1:y:2017:i:2:p:221-228 Access Statistics for this article More articles in Annals of Faculty of Economics from University of Oradea, Faculty of Economics Contact information at EDIRC. |
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