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The necessity for accounting regulations generally accepted at international level


  • Bogdan COTLET

    () (West University of Timisoara)

  • Cristina Mihaela NAGY

    () ("Tibiscus" University of Timisoara)

  • Ovidiu MEGAN


  • Dumitru COTLET

    () (West University of Timisoara)


In a market economy, accounting convergence and normalization have as an objective organizing the operation rules of the accounting information market in order to optimize financial communication. The existence of a market implies the existence of a product. Accounting information represents the product changed on the accounting information market. This product exists only according to the rules and standards that define it. Accounting information is a “legal” specific product, because its production, presentation and dissemination must be regulated. Like other countries in transition, Romania has launched a reforming process of the financial reporting system, with the assistance of some EU member countries (France, Belgium, and United Kingdom).

Suggested Citation

  • Bogdan COTLET & Cristina Mihaela NAGY & Ovidiu MEGAN & Dumitru COTLET, 2012. "The necessity for accounting regulations generally accepted at international level," Anale. Seria Stiinte Economice. Timisoara, Faculty of Economics, Tibiscus University in Timisoara, vol. 0, pages 400-405, May.
  • Handle: RePEc:tdt:annals:v:xviii:y:2012:p:400-405

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    More about this item


    accounting convergence; accounting information; accounting regulations;

    JEL classification:

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


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