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The Evolution of the Limitation of the Application of the Accounts Function by Romanian Companies

In: 16th Economic International Conference NCOE 4.0 2020

Author

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  • Claudia-Elena Grigoras-Ichim

    (†Stefan cel Mare†University of Suceava, Suceava, Romania)

  • Lucia Morosan-Danila

    (†Stefan cel Mare†University of Suceava, Suceava, Romania)

Abstract

With Romania's accession to the European Union and adaptation to international accounting standards, national accounting and tax legislation has seen various changes and adjustments for active companies, both nationally and internationally. Economic reality has imposed an accelerated pace on companies over time and is constantly adapting to meet the demands of the internal or external market, and the accounting and taxation is an important constant to all stakeholders. Access to international stock exchanges and investments stimulates the governance to amend and develop the legislation in force, clearly if it is not always to the advantage of Romanian companies. In this sense, the permanent changes have forced companies to invest and spend larger amounts on the infrastructure needed for management and financial accounting or, as an alternative, for outsourced financial-accounting consulting services. This article presents the evolution over time of legislative changes in Romania regarding the obligation of private companies to comply with accounting regulations and, in particular, those related to the use of the chart of accounts in accounting records.

Suggested Citation

  • Claudia-Elena Grigoras-Ichim & Lucia Morosan-Danila, 2020. "The Evolution of the Limitation of the Application of the Accounts Function by Romanian Companies," Book chapters-LUMEN Proceedings, in: Carmen NÄ‚STASE (ed.), 16th Economic International Conference NCOE 4.0 2020, edition 1, volume 13, chapter 13, pages 139-147, Editura Lumen.
  • Handle: RePEc:lum:prchap:13-13
    DOI: https://doi.org/10.18662/lumproc/ncoe4.0.2020/13
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    References listed on IDEAS

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    1. Ion Ionas¸cu & Mihaela Ionas¸cu & Lavinia Olimid & Daniela Artemisa Calu, 2007. "An Empirical Evaluation of the Costs of Harmonizing Romanian Accounting with International Regulations (EU Directives and IAS/IFRS)," Accounting in Europe, Taylor & Francis Journals, vol. 4(2), pages 169-206, December.
    2. Bunget, Ovidiu-Constantin & Dumitrescu, Alin-Constantin & Farcane, Nicoleta & Caciuc, Leonora & Popa, Adina, 2009. "The impact of ias/ifrs on the romanian accounting rules," MPRA Paper 18279, University Library of Munich, Germany.
    3. Lucia MOROSAN-DÃNILÃ & Claudia-Elena GRIGORA?-ICHIM, 2015. "Analysis Of The Accounting Systems From Romania And Moldova," The USV Annals of Economics and Public Administration, Stefan cel Mare University of Suceava, Romania, Faculty of Economics and Public Administration, vol. 15(special), pages 162-167, June.
    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.
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    More about this item

    Keywords

    Accounting legislation; accounts; accounting; taxation;
    All these keywords.

    JEL classification:

    • A1 - General Economics and Teaching - - General Economics
    • F1 - International Economics - - Trade
    • F3 - International Economics - - International Finance
    • M1 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration
    • R1 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics
    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights

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