Moments In The Modernisation Of Public Accounting In Romania. A Case Study Regarding The Revaluation And Armonization Of Fixed Assets

The introduction of accrual accounting in the public sector is a recent phenomenon and a worldwide subject of debate. In this article, we presented the steps taken by Romania in adopting accrual accounting, first as a candidate country for European Union accession and later as a member state. Furthermore, we studied how the transition to accrual accounting led to a better management of the assets of public institution while choosing, as a case study, the revaluation and amortization of fixed assets. The scientific approach of this research paper consists of two parts: in the first part, we presented a gradual historical evolution of public accounting, combined with Romania’s efforts in adopting accrual accounting. In the second part, we showed, in the form of a case study, the advantages of introducing amortization and revaluation of fixed assets as a first step in the strengthening of accrual accounting.