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Impact Of Ifrs Adoption On Romanian Companies

Author

Listed:
  • Adriana Florina POPA

    (Faculty of Accounting and Management Information Systems, Bucharest University of Economic Studies, Romania)

  • Andreea Gabriela PONORICA

    (Faculty of Accounting and Management Information Systems, Bucharest University of Economic Studies, Romania)

  • Oana Georgiana STANILA

    (Faculty of Accounting and Management Information Systems, Bucharest University of Economic Studies, Romania)

Abstract

Accounting globalization follows the transformation of the accounting system into an economic and financial model, able to inform more correctly and rapidly the users of the accounting information, amongst which the investors and the creditors are clearly delimited. Within this context, the need of a harmonized and well oriented accounting system has become imperative. The adoption of a set of international accounting standards in Europe is intended to provide uniform and high quality financial information on the financial markets which would consolidate the global market efficiency, reducing the cost of capital accessing for European companies. There are numerous opinions according to which the IFRS adoption could be an element of abolishing the discrepancies between the accounting systems, offering at the same time a high level of transparency of the financial information. Our objective is to analyze the opportunity of implementing the IAS/IFRS referential by the Romanian companies, as well as their instant reaction within this context.

Suggested Citation

  • Adriana Florina POPA & Andreea Gabriela PONORICA & Oana Georgiana STANILA, 2013. "Impact Of Ifrs Adoption On Romanian Companies," SEA - Practical Application of Science, Romanian Foundation for Business Intelligence, Editorial Department, issue 2, pages 241-250, October.
    • Handle: RePEc:cmj:seapas:y:2013:i:2:popa
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    More about this item

    Keywords

    IFRS; IFRS adoption; Romanian accounting; listed companies;
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • M48 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Government Policy and Regulation

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