THE NECESSITY FOR ACCOUNTING REGULATIONS GENERALLY ACCEPTED AT INTERNATIONAL LEVEL
THE NECESSITY FOR ACCOUNTING REGULATIONS GENERALLY ACCEPTED AT INTERNATIONAL LEVEL
Author(s): Cotleţ Dumitru, Ovidiu Megan, Cristina Mihaela Nagy, Bogdan CotleţSubject(s): Economy
Published by: Editura Eurostampa
Keywords: accounting convergence; accounting information; accounting regulations
Summary/Abstract: 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).
Journal: Anale. Seria Ştiinţe Economice. Timişoara
- Issue Year: XVIII/2012
- Issue No: 18
- Page Range: 401-406
- Page Count: 6
- Language: English