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- Title
The Balance Sheet Between IAS 1 and the Romanian Accounting Regulations.
- Authors
Huminiuc, Cristian
- Abstract
Our country was obliged after 1990 to choose between two large accounting systems recognized at the international level: the continental system and the Anglo-Saxon system. In the first stage of the Romanian accounting reform, the Romanian norm makers made their option for a balance sheet model inspired by the French accounting model and which corresponds on the whole with the balance sheet scheme under a bilateral form drawn up by the article 9 of the IV Directive of the European Economic Committee (EEC). The second stage was marked by the desire of submitting the accounting from our country to the International Accounting Standards and as a result, those making norms had the option to choose a balance sheet resembling to the one illustrate by IAS1. With all efforts the Romanian balance has a series of shortcomings which will be illustrated hereinafter through a comparative study of the balance sheet format under the vision of IAS1 and that of OMPF no. 3055/2009. In this way, the reader will have the chance to better understand the resemblances and differences between the format of the balance sheet proposed by the Romanian regulations and that adopted by the international
- Subjects
ROMANIA; FINANCIAL statements; ACCOUNTING methods; ACCOUNTING standards; ASSETS (Accounting); LIABILITIES (Accounting)
- Publication
Economy Transdisciplinarity Cognition, 2011, Vol 14, Issue 1, p366
- ISSN
2067-5046
- Publication type
Article