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The Application Of International Financial Reporting Standards In Romania: Advantages And Main Problems

Author

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  • Diana-Andreea, TRAISTARU

    (University of Craiova, Faculty of Economics and Business Administration.)

Abstract

This work is meant to analyze the implementation of International Financial Reporting Standards in Romania. The work tries to focus on the benefits and challenges of International Financial Reporting Standards, mainly on factors pertaining to its adoption connections, statistics and other types of analyses were used in order to show the importance that International Financial Reporting Standards adoption could represent for a large number of stakeholders. The most important features of International Financial Reporting Standards implementation are the costs, which seem to be rather high, the missing of instructions for the adoption, and its complex characteristics. The adoption of International Financial Reporting Standards in Romania are strongly influenced by the stock market, the dimensions of companies and educational degree. The results of this study recommend that the government should start a program to support the International Financial Reporting Standards application.

Suggested Citation

  • Diana-Andreea, TRAISTARU, 2014. "The Application Of International Financial Reporting Standards In Romania: Advantages And Main Problems," Management Strategies Journal, Constantin Brancoveanu University, vol. 26(4), pages 271-277.
    • Handle: RePEc:brc:journl:v:26:y:2014:i:4:p:271-277
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    File URL: http://www.strategiimanageriale.ro/papers/140433.pdf
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    References listed on IDEAS

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    1. Mary E. Barth & Wayne R. Landsman & Mark H. Lang, 2008. "International Accounting Standards and Accounting Quality," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 46(3), pages 467-498, June.
    2. Ray Ball, 2006. "International Financial Reporting Standards (IFRS): pros and cons for investors," Accounting and Business Research, Taylor & Francis Journals, vol. 36(S1), pages 5-27.
    3. Andrei Filip, 2010. "IFRS and the value relevance of earnings: evidence from the emerging market of Romania," International Journal of Accounting, Auditing and Performance Evaluation, Inderscience Enterprises Ltd, vol. 6(2/3), pages 191-223.
    4. Costel ISTRATE, 2012. "Impact of IFRS on Romanian Accounting and Tax Rules for Fixed Tangibles Assets," Journal of Accounting and Management Information Systems, Faculty of Accounting and Management Information Systems, The Bucharest University of Economic Studies, vol. 11(2), pages 243-263, June.
    Full references (including those not matched with items on IDEAS)

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    JEL classification:

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

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