MOMENTS IN THE MODERNISATION OF PUBLIC ACCOUNTING IN ROMANIA. A CASE STUDY REGARDING THE REVALUATION AND ARMONIZATION OF FIXED ASSETS

Geanina Mãciuca () and Mihai Seucea ()
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Geanina Mãciuca: Stefan cel Mare University of Suceava, Romania
Mihai Seucea: Babes Bolyai University, Romania

European Journal of Accounting, Finance & Business, 2013, vol. 1, issue 1, 151-162

Abstract: The introduction of accrual accounting in the public sector is a recent phenomenon and a worldwide subject of debate. In this article, we presented the steps taken by Romania in adopting accrual accounting, first as a candidate country for European Union accession and later as a member state. Furthermore, we studied how the transition to accrual accounting led to a better management of the assets of public institution while choosing, as a case study, the revaluation and amortization of fixed assets. The scientific approach of this research paper consists of two parts: in the first part, we presented a gradual historical evolution of public accounting, combined with Romania’s efforts in adopting accrual accounting. In the second part, we showed, in the form of a case study, the advantages of introducing amortization and revaluation of fixed assets as a first step in the strengthening of accrual accounting.

Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:scm:ejafbu:v:1:y:2013:i:1:p:151-162

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