Considerations on the Fiscal Consequences of Accounting Result

Petec ( Cãlinescu) Daniela () and Ionu? Spãtãrelu ()

Ovidius University Annals, Economic Sciences Series, 2016, vol. XVI, issue 1, 595-599

Abstract: The concepts of accounting result and the fiscal result, the manner of determining and recording in accounting have always aroused interest for different categories of users. The concept of accounting result is used by all entities compelled to submit annual financial statements, regardless of how the performance of the business is taxed, while the notion of fiscal result is only used by the entities liable to pay corporation tax. In terms of information provided by the accounting result, those are intended for a wide range of users among which shareholders, investors, financial creditors, the general public, while information given by the fiscal result are mainly intended for the government and fiscal management institutions. Both accounting result and fiscal result are determined based on revenues and expenses recorded in the accounts, while respecting accounting policies and principles and tax laws.

Keywords: accounting result; fiscal result; revenue; expenses/expenditure. J (search for similar items in EconPapers)
JEL-codes: M41 M48 (search for similar items in EconPapers)
Date: 2016
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