NORMELE ŞI INSTITUŢIILE INTERNAŢIONALE IMPLICATE ÎN PROCESUL DE ARMONIZARE CONTABILĂ
RULES AND INTERNATIONAL INSTITUTIONS INVOLVED IN ACCOUNTING HARMONIZATION PROCESS

Summary/Abstract: The 4th and 7th European Directives in terms of accounting, provide a harmonized basis in order to draw up simple and consolidated annual financial situations from economic entities in the EU: these directives have consented to a general improvement in the quality of accounting rules and led to a greater comparability of annual statements, thereby facilitating cross-border activities, allowing finally a tacit recognition of the annual financial statements to listing securities on stock exchanges throughout the union. At the same time, these Directives do not provide a solution to all problems faced by those who prepare and use annual financial statements or set national accounting standards. Some of these problems are present in European accounting directives; others were resolved when applying directives, by including in legislative texts of many options or phrases to avoid different interpretations. The financial statements drawn according to national accounting and regulations in force do not meet the more stringent rules prescribed by the SEC (Securities and Exchange Commission) of USA. In this paper the authors describe the activity and role of each international organism in the harmonization of accounting in order to come to support those who confront with difficulties in interpretation and implementation of European directives and international financial reporting standard IAS / IFRS.

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