International and European in the Accounting System of Romania

Anca Gabriela Turtureanu and Cornelia Elena Tureac

European Financial and Accounting Journal, 2009, vol. 2009, issue 4, 50-65

Abstract: In order to join the European Union, Romania, as well as the other member countries, must accomplish certain criteria, among which we can mention the adopting of the acquis communautaire. Thus, two Guidelines can be considered the basis of the acquis communautaire for the field of the accounting of the corporations: The Fourth Guideline of the Counsel (78/660/EEC) concerning the yearly accounts of the business corporations and the Seventh Guideline of the Counsel (83/349/EEC) concerning the consolidated accounts of the business corporations. Since these two guidelines does not cover the banking industry and the insurance industry, there were adopted two Guidelines in order to cover the problems that appear in the yearly accounts (financial situations) of these two sectors (The Accounts Guideline of the Banking Industry from 1986 and The Accounts Guideline of the of the Insurance Industry from 1991). These four Guidelines are considered to be the fundamental pillars of the acquis, with relevance.

Keywords: Financial reporting; IFRS; Romania; Romanian Accounting Practices (search for similar items in EconPapers)
JEL-codes: M41 (search for similar items in EconPapers)
Date: 2009
References: View complete reference list from CitEc
Citations:

Downloads: (external link)
http://efaj.vse.cz/doi/10.18267/j.efaj.78.html (text/html)
http://efaj.vse.cz/doi/10.18267/j.efaj.78.pdf (application/pdf)
free of charge

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:prg:jnlefa:v:2009:y:2009:i:4:id:78:p:50-65

Ordering information: This journal article can be ordered from
European Financial and Accounting Journal, University of Economics, Prague, nám. W. Churchilla 4, 130 67 Prague 3, Czech Republic
http://efaj.vse.cz

DOI: 10.18267/j.efaj.78

Access Statistics for this article

European Financial and Accounting Journal is currently edited by Efaj Journal

More articles in European Financial and Accounting Journal from Prague University of Economics and Business Contact information at EDIRC.
Bibliographic data for series maintained by Stanislav Vojir ().