IDEAS home Printed from https://ideas.repec.org/h/spr/sprchp/978-0-387-25708-2_7.html
   My bibliography  Save this book chapter

Accounting Reform in Lithuania

In: Accounting Reform in Transition and Developing Economies

Author

Listed:
  • Vaclovas Lakis

    (Vilnius University)

  • Laimute Kazlauskiene

    (Institute of Accountants)

Abstract

The reform of accounting started in 1992 when the Supreme Council of the Republic of Lithuania passed the Law on the Principles of Accounting. In the period between 1990, as the year of the declaration Lithuanian's independence, and 1992, accounting used to be performed pursuant to instructions in operation under the administrative command system. However, certain slight changes resulting mainly from economic reforms and privatization initiated at that time were undertaken in the area of accountancy. The Law on the Principles of Accounting obligated enterprises to organize their accounting procedures so that tax-counting offices, statisticians, creditors, and commercial partners could receive faithful and timely information. For the first time in the history of Lithuanian accountancy the Law demanded that accounting should be carried out in conformity with the provisions of International Accounting Standards and the European Union (formerly European Economic Community) Directives.

Suggested Citation

  • Vaclovas Lakis & Laimute Kazlauskiene, 2008. "Accounting Reform in Lithuania," Springer Books, in: Robert W. McGee (ed.), Accounting Reform in Transition and Developing Economies, chapter 7, pages 115-130, Springer.
    • Handle: RePEc:spr:sprchp:978-0-387-25708-2_7
    DOI: 10.1007/978-0-387-25708-2_7
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. R.M. Ammar ZAHID & Alina ȚARAN & F.N. Can SIMGA-MUGAN, 2018. "Cultural values and financial reporting practices: contemporary tendencies in Eastern European countries," Eastern Journal of European Studies, Centre for European Studies, Alexandru Ioan Cuza University, vol. 9, pages 89-109, December.
    2. Golubeva, Olga, 2023. "Accounting for transition: A literature review," Journal of International Accounting, Auditing and Taxation, Elsevier, vol. 51(C).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:sprchp:978-0-387-25708-2_7. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.