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Similarities And Dissimilarities Between The Romanian Public Accounting System And Ipsas 1 – Presentation Of Financial Statements

Author

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  • Andrei-Răzvan CRIȘAN

    (Faculty of Economics and Business Administration, Babeș-Bolyai University)

Abstract

Nowadays, the accounting harmonization in the public sector has become a key problem in the accounting world. The need for harmonization is generated by the globalization process, both in the private and public sector. This is the reason why the awareness of international bodies for public sector accounting harmonization is significantly raising. The aim of the paper is to compare the information disclosed by the Romanian legal framework to information disclosed by IPSAS 1 – Presentation of Financial Statements, in order to determine the extent to which Romanian laws took the provisions of this standard that is considered by researchers a significant point of modern accounting. The authors try to establish the extent to which the central Romanian regulations have taken the main provisions from IPSAS 1. The purpose is to discover the similarity degree between these two regulations. This study is useful for the authorities empowered to publish regulations because it helps to determine the most important omissions from IPSAS 1 and find the best solutions for improving the future legislation, in order to be as close as possible to IPSAS.

Suggested Citation

  • Andrei-Răzvan CRIȘAN, 2014. "Similarities And Dissimilarities Between The Romanian Public Accounting System And Ipsas 1 – Presentation Of Financial Statements," SEA - Practical Application of Science, Romanian Foundation for Business Intelligence, Editorial Department, issue 4, pages 229-235, July.
    • Handle: RePEc:cmj:seapas:y:2014:i:4:p:229-235
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    References listed on IDEAS

    as
    1. J. Christiaens & B. Reyniers, 2009. "Impact of IPSAS on Reforming Governmental Financial Information Systems: A Comparative Study," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 09/600, Ghent University, Faculty of Economics and Business Administration.
    2. Isabel Brusca & Vicente Montesinos & Danny S. L. Chow, 2013. "Legitimating International Public Sector Accounting Standards (IPSAS): the case of Spain," Public Money & Management, Taylor & Francis Journals, vol. 33(6), pages 437-444, November.
    3. Nadia Albu & Cătălin Nicolae Albu, 2012. "International Financial Reporting Standards in an Emerging Economy: Lessons from Romania," Australian Accounting Review, CPA Australia, vol. 22(4), pages 341-352, December.
    4. J. Christiaens & C. Vanhee & F. Manes-Rossi & N. Aversano, 2013. "The Effect of IPSAS on Reforming Governmental Financial Reporting: an International Comparison," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 13/845, Ghent University, Faculty of Economics and Business Administration.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Similarity; Dissimilarity; IPSAS Romania;
    All these keywords.

    JEL classification:

    • H83 - Public Economics - - Miscellaneous Issues - - - Public Administration

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