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An Analysis of the Convergence Level of Tangible Assets (PPE) According to Romanian National Accounting Regulation and IFRS for Smes

Author

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  • Maria Madalina Buculescu (Costica)
  • Bogdan Nicolae Velicescu

    (Bucharest University of Economic Studies)

Abstract

This paper aims a comparative analysis between IFRS for SMEs and Romanian national accounting regulations concerning measurement of formal convergence level of definitions, treatment and policies of Property, Plant and Equipment (PPE) and highlighting main national fiscal rules related. With the purpose to not contribute only to the measurement of PPE formal level of harmonization, we intend to analyze some PPE related accounting practices used by Romanian certified accountants. To this effect we addressed an on-line questionnaire to certified accountants including questions concerning their opinion to: fair value method used for revaluation, accelerated depreciation, the limit value for tangible assets and inventory objects. Finally, we assessed a medium level of formal convergence in the area of PPE, but there are significant impediments if the case of a possible implementation of IFRS for SMEs especially because of the fiscal rules which usually influence accounting practices and because professional accountants considerably agree PPE practices which are not common within IFRS for SMEs.

Suggested Citation

  • Maria Madalina Buculescu (Costica) & Bogdan Nicolae Velicescu, 2014. "An Analysis of the Convergence Level of Tangible Assets (PPE) According to Romanian National Accounting Regulation and IFRS for Smes," Journal of Accounting and Management Information Systems, Faculty of Accounting and Management Information Systems, The Bucharest University of Economic Studies, vol. 13(4), pages 774-799, December.
    • Handle: RePEc:ami:journl:v:13:y:2014:i:4:p:774-799
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    Citations

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    Cited by:

    1. Anișoara – Elena Pavelescu (Belbe), 2022. "The Financial-Accounting Audit in Pre-University Educational Institutions in Romania," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 986-994, Decembrie.
    2. Nadia ALBU & Ioana PALARIE, 2016. "Convergence of Romanian accounting regulations with IFRS. A longitudinal analysis," The Audit Financiar journal, Chamber of Financial Auditors of Romania, vol. 14(138), pages 634-634, June.
    3. Cristina-Petrina Drăgușin (Trincu-Drăgușin) & Ileana Cosmina Pitulice & Aurelia Ștefănescu, 2021. "Harmonisation and Emergence Concerning the Performance Audit of the EU Member States’ Public Sector. Romania’s Case," Sustainability, MDPI, vol. 13(7), pages 1-18, March.
    4. Daniela PORDEA & Alin-Constantin DUMITRESCU, 2021. "Convergence to IFRS in Romania – Score per Minute," The Audit Financiar journal, Chamber of Financial Auditors of Romania, vol. 19(162), pages 373-373, May.
    5. Elena-Iuliana Ion & Maria Criveanu, 2017. "The Company Performance Expressed By The Templates Of The Profit And Loss Account Prepared According To The International, European And National Reference," Annals of University of Craiova - Economic Sciences Series, University of Craiova, Faculty of Economics and Business Administration, vol. 1(45), pages 25-38, November.
    6. Claudia Catalina CIOCAN & Iuliana GEORGESCU & Mihai CARP, 2020. "The Perception of the Representatives of the Accounting Profession from Romania on the Relationship Between Conservatism and True and Fair View," The Audit Financiar journal, Chamber of Financial Auditors of Romania, vol. 18(159), pages 585-585.
    7. Georgiana-Ioana Țîrcovnicu & Camelia-Daniela Hategan, 2023. "The Audit Risk Assessment of European Small- and Mid-Size Enterprises," JRFM, MDPI, vol. 16(3), pages 1-12, March.

    More about this item

    Keywords

    tangible assets (PPE); accounting convergence/harmonization; fiscal rules; OMFP 3055/2009; International Financial Reporting Standard for Small and Medium sized Enterprises (IFRS for SMEs);
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

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