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International Accounting Standards And Their Influence On The Management Of A Company

Author

Listed:
  • ANA - MARIA MALAESCU

    (UNIVERSITY OF CRAIOVA)

  • VIRGIL - ION POPOVICI

    (“CONSTANTIN BRANCUSI” UNIVERSITY OF TARGU-JIU)

Abstract

The accounting standardization process is in progress at international and regional level, more and more countries have reached the same conclusion of enforcing high quality accounting standards like IAS / IFRS. There are various reasons for Romania adopting the international accounting referential most of them subordinated to its central aim, respectively EU accession. In our country the accounting system is subordinated to the taxation system, financing still comes prevalent from banks and very few Romanian companies are listed on foreign capital markets. Romania is an ex-communist emergent country in wich changes in the economic and political environment merely started only after the end of the communist regime in the early 1990s. Many European companies already observed that by enforcing IFRS standards they have access to international capital markets, they could reduce expenses and unroll international transactions easier. It is improbable that a financial reporting, which is not easy understood by all its users, would offer new business opportunities or additional capital.Therefore, a significant number of companies, either voluntarily enforce IFRS standards, or they are pledged by the government to do this.

Suggested Citation

  • Ana - Maria Malaescu & Virgil - Ion Popovici, 2015. "International Accounting Standards And Their Influence On The Management Of A Company," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 1, pages 159-162, January.
    • Handle: RePEc:cbu:jrnlec:y:2015:v:1i:p:159-162
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    References listed on IDEAS

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    1. Bunget, Ovidiu-Constantin & Dumitrescu, Alin-Constantin & Farcane, Nicoleta & Caciuc, Leonora & Popa, Adina, 2009. "The impact of ias/ifrs on the romanian accounting rules," MPRA Paper 18279, University Library of Munich, Germany.
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