Harmonization of accounting in the process of globalization of economic activities

Abstract. Once with the Romania adhering at the European Union the public accounting system was transformed and adapted according to the requirements imposed by the international public sector accounting standards (IPSAS).This fact had imposed the appearance of legislative norms and provisions adapted to the actual requirements, by taking into account the growing and complex level of economic activities where the irreversible process of globalization takes place.The changes due to the economic politics, especially the new configuration of the international economic relations, relations characterized by an intense and irreversible process of globalization, have conducted to the implementation of a unitary and uniform legislation, particularly for the member states of EU. The accounting reform has begun through the harmonization of legislation according to the requirements and provisions of International Accounting Standards and European Directives. The ampleness and the rapid rhythm of informational society’s development have implicitly leaded to the development of accounting information’s importance and dimension. The decisive role of the accounting information had conducted to the accentuated growth of the interest, manifested at all informational society’s level, from the development of activities in financial and economical domain point of view.The accounting normalization process imposed the development of norms and provisions necessary to the drawing up of accounting documents, by defying methods and a specialized terminology, applied in the activity of entities and accounting specialists

Basics and alternatives concerning the measurement of company performances

 In a competitive economy, a company's activity aims to achieve strategic objectives. Of these, two objectives: making profit and meeting the needs of a particular market segment are vital targets to maintaining the company’s market position. This requires information which reveals the company's financial position and profitability. The companies which want to be competitive must assess the company's capacity to generate positive results and cash in a reliable way. This strategy needs information on the resources used and the results obtained, but should not overlook the truth that the profit arises from uncertainty and the risk assumed by the entrepreneur. In this regard, the International Accounting Standards often use the term "probability" when referring to the recognition criteria of structures comprised in the financial statements

Basics and alternatives concerning the measurement of company performances

In a competitive economy, a company's activity aims to achieve strategic objectives. Of these, two objectives: making profit and meeting the needs of a particular market segment are vital targets to maintaining the company’s market position. This requires information which reveals the company's financial position and profitability. The companies which want to be competitive must assess the company's capacity to generate positive results and cash in a reliable way. This strategy needs information on the resources used and the results obtained, but should not overlook the truth that the profit arises from uncertainty and the risk assumed by the entrepreneur. In this regard, the International Accounting Standards often use the term "probability" when referring to the recognition criteria of structures comprised in the financial statements

Management Strategies and Environmental Accounting in Economic Entities. A Contribution to Sustainable Development

Abstract: The economic transactions made in an causes interactions with the environment, in some cases occurring adverse environmental effects. Progressive degradation of the natural environment and increasing social concern before this event, converted protect the environment in one of the most important strategic actions amendment requiring entities to include consideration of environmental issues. The general objective of this study is to analyze business practices related to environmental issues, both in its accounting treatment and environmental management strategies to entities that perform activities of environmental degradation

Estimation and valuation in accounting

The relationships of the enterprise with the external environment give rise to a range of informational needs. Satisfying those needs requires the production of coherent, comparable, relevant and reliable information included into the individual or consolidated financial statements. International Financial Reporting Standards IAS / IFRS aim to ensure the comparability and relevance of the accounting information, providing, among other things, details about the issue of accounting estimates and changes in accounting estimates. Valuation is a process continually used, in order to assign values to the elements that are to be recognised in the financial statements. Most of the times, the values reflected in the books are clear, they are recorded in the contracts with third parties, in the supporting documents, etc.However, the uncertainties in which a reporting entity operates determines that, sometimes, the assigned or values attributable to some items composing the financial statements be determined by use estimates.

Accounting and fiscal news 2010

By decree of the Minister of Public Finance no. 3055/2009 for the adoption of the accounting Regulations in compliance with the European directives (that abolish completely the provisions of the 1752/2005 Decree), a series of modifications/news were introduced in the field of accounting, as well as in the fiscal field. These regulations are applicable starting the 1st of January 2010.The herewith material details the main accounting and fiscal news such as: news concerning the accounting procedures; news concerning the internal control, news concerning the companies’ stock-taking; anticipated disbursement system for the profit tax applicable starting 2010 by all the contributors; the regularization of the profit tax owed for 2009; clarifications regarding the certification of the annual profit tax declaration for 2009; the new regulations for the elaboration and deposition of the recapitulative declaration, as well as other declaration obligations associated to the beginning of the new year; important accounting aspects referring to the patrimony stock-taking at the end of 2009.

Accountancy Against Financial Engineering Challenges

The world we are living in is the one of economies’ universalization, and especially, of financial markets’ globalization. The abolition of economic borders for different countries has also implications in the monitorization of companies’ businesses with the help of accounting. Yet, the information regarding companies’ performances determinate a higher concern. This is the reason for which the accounting normalizators were permanently concerned in finding reliable models of reflecting this. In spite, there are instruments and techniques (accounting engineering) which distort the companies’ results

FISCAL AND ACCOUNTING NEWS 2010

By decree of the Minister of Public Finance no. 3055/2009 for the adoption of the accounting Regulations in compliance with the European directives (that abolish completely the provisions of the 1752/2005 Decree), a series of modifications/news were introduced in the field of accounting, as well as in the fiscal field. These regulations are applicable starting the 1st of January 2010.The herewith material details the main accounting and fiscal news such as: news concerning the accounting procedures; news concerning the internal control, news concerning the companies’ stock-taking; anticipated disbursement system for the profit tax applicable starting 2010 by all the contributors; the regularization of the profit tax owed for 2009; clarifications regarding the certification of the annual profit tax declaration for 2009; the new regulations for the elaboration and deposition of the recapitulative declaration, as well as other declaration obligations associated to the beginning of the new year; important accounting aspects referring to the patrimony stock-taking at the end of 2009.accounting news; fiscal news; accounting procedures; company stock-taking; accounting policy manual; internal and financial accounting control; fiscal consultant

INTERNATIONAL FINANCIAL REPORTING STANDARDS FOR SMES

IFRS for SMEs give the response to an international requirement of the developed and emerging economies in the process of globalization to have a rigorous and common set of international accounting provisions (standard, rule, regulation) specifically for SMEs, to be much more simplified than the complete IFRSs. The area where are applicable the IFRS for SMEs includes all the profit-oriented entities that prepare the general financial statements and do not have the public accountability and there are excluded the entities whose securities are publicly traded and the financial institutions like banks and the insurance companies.IFRS for SMEs; simplified financial reporting; public accountability; options; external users; recognition and assessment principles

Harmonization of accounting in the process of globalization of economic activities

Abstract. Once with the Romania adhering at the European Union the public accounting system was transformed and adapted according to the requirements imposed by the international public sector accounting standards (IPSAS).This fact had imposed the appearance of legislative norms and provisions adapted to the actual requirements, by taking into account the growing and complex level of economic activities where the irreversible process of globalization takes place. The changes due to the economic politics, especially the new configuration of the international economic relations, relations characterized by an intense and irreversible process of globalization, have conducted to the implementation of a unitary and uniform legislation, particularly for the member states of EU. The accounting reform has begun through the harmonization of legislation according to the requirements and provisions of International Accounting Standards and European Directives.  The ampleness and the rapid rhythm of informational society’s development have implicitly leaded to the development of accounting information’s importance and dimension. The decisive role of the accounting information had conducted to the accentuated growth of the interest, manifested at all informational society’s level, from the development of activities in financial and economical domain point of view. The accounting normalization process imposed the development of norms and provisions necessary to the drawing up of accounting documents, by defying methods and a specialized terminology, applied in the activity of entities and accounting specialists