American Accounting

The international Accounting Standards already contribute to the generation of better and more easily comparable financial information on an international level, supporting thus a more effective allocation of the investments resources in the world. Under the circumstances, there occurs the necessity of a consistent application of the standards on a global level. The financial statements are part of the financial reporting process. A set of complete financial statements usually includes a balance sheet , a profit and loss account, a report of the financial item change (which can be presented in various ways , for example as a status of the treasury flows and of the funds flows ) and those notes, as well as those explanatory situations and materials which are part of the financial statements.normalization, goodwill, stock estimation, assets life, recovery test, depreciation index, depreciation, financial investments, depreciation reporting and presentation, software product costs.

Harmonization and Convergence – Coordinates of Accounting Globalization

The last decades show, as a particularity, an acceleration of the internationalizations of capital and trade markets, which has emboldened globalization and, especially, the technological progress of information and communication, which has allowed economic actors to fully profit from the possibilities opened by the free markets. International accounting harmonization is opposed to the deepening of the differences between countries, offering a common denominator of understanding. Finalizing the accounting convergence process on a world scale envisions the application of an international form of accounting, of norms, principles and concepts which are unique and unitary for all participating countries, in order to thus talk of a global accounting model. Romania has made major efforts and managed to make a considerable normative progress by passing international accounting standards and harmonizing accounting, especially with regards to European directives

The relevance of accounting information enclosed in performance indicators

This research study is analyzing the relevance of accounting information reflected through the elaboration of firm performance variables and administration because of the necessity of performance to be administrated. The subject of the theme is enclosed in current development of accounting norms at national , european, (Directives) and international levels (IAS/IFRS). The analyised topic is based upon the capabilty of accounting to generate information , throug synthesis  calculus being settled the nature , the characteristics and  the informational valences of  financial performance of an organization. The accounting infromation is base for performing the decison process. The rol of accounting in insurring the relevance and comparability of information increased significantly, being already indispensable. A real solution for communication misunderstanig elimination emerged, as result of diputes in perception and interpretation of economic information, as results for the national speciffic norms.The economic communication is demanding for firm not only in its expression but in thinking and in the process of method conceptualization of organization and administration. A detailed financial situation analysis, which are employing annual financial analysis procedures, underling the performance and risks influencing  factors, are considering one starting point for addressing the issue. The introduced variables are insuring a whole vision of firm activity and an appropriate strategy for results significance

CORRELATION BETWEEN INTERNATIONAL FINANCIAL REPORTING STANDARDS AND ASSESSMENT IN THE CONTEXT OF MARKET VALUE RELATIONS -FAIR VALUE

Applying International Financial Reporting Standards (IFRS) will have the purpose: the rationale is that the professional accounting, switching to accounting based on fair value, involves getting more frequent information on the fair value of assets; professional staff should be informed of the substance of the economic activities of companies for a proper application of the standards (there are fewer detailed instructions of the Ministry of Finance); it is possible that tax regulations do not keep up with the accounting, tax implications of certain transactions may be unclear and therefore may conflict with tax authorities. This detaches the idea that the application of different standards, leading to different results, with implications for the interpretation of data, calculates economic and financial indicators and distorting "the truth accountant”. The analysis outlined above suggests that, at least at European level, making a financial audit, of how to evaluate companies in accordance with Financial Reporting Standards and IVSC would create an international market that would ensure international recognition specialists in this field.accounting information, market value, financial balance, bases of assessment, alternative treatment, IAS 39, fair value option, IVSC, IFRS

Theories and Methods of Assessment that have Influenced International Practices

While some theorists have been reluctant to express their opinions and give solutions to the problem of evaluation, in addition to other issues earlier review, sought in the theories developed to propose various methods for assessing balance sheet structures. Retrospective evaluation systems adopted in the theories developed in balance over time results in finding that "some theorists have resorted to an evaluation price of all elements in balance, while others, to ensure a higher accuracy of assessment operations, have adopted several different prices "for various structures of the balance sheet.evaluation, methods, price, market

Actualities in the Cadastral Identification and the Measurement of Real Estate Property

The approached field presents a display of the role of real estate knowledge, the cadastral surface, for a correct evaluation process of real estate properties, three sides of cadastral survey, and namely, the technical, the economic and the judicial side, in order to accurately reflect the information needed for the evaluation process

IMPLICATIONS OF STANDARDIZATION AND HARMONIZATION OF ACCOUNTING FOR ROMANIA

Accountancy normalization supposes rules and accountancy standards making, rules which are accomplished in the way of common denominator concerning the way of action and implementation in order to realize a content comparison and accountancy in formations approach. Accountancy normalization process is structured in two main areas: national accountancy normalization and international accountancy normalization. Though international accountancy normalization concept has to be realized a difference between accountancy normalization made by international accountancy body, which do not belong to a certain culture or nation , and regional accountancy normalization from the point of view of culture and its influences which incorporate an conglomerate of such elements. We tried to put in light the importance of the normalization and harmonization process, what it’s done in and what we have to do for that in Romania.accountancy normalisation, accountancy harmonization, Accountancy Standards

The Internal Audit – Key Pillar of Corporate Governance

The internal audit elaborates recommendations in order to improve the government process  for the fulfilling of some strategic objectives, amongst one can mention: the promotion of ethic values within the patrimonial entities, the insurance of accountability, the efficient functioning of the legal entity management, the efficient communication of the risks and information on the internal control to the structures within the economic entity, the effective coordination of activities, the information communication within the management, between the internal and external auditors, as well as the good management of the relation with the Board of Directors. The study is based on the relation between the internal audit and the corporate governance, within the context where the internal audit became an essential pillar for a modern company, because it highly reflects the efficiency by properly using human resources and materials, a better coordination between various departments in a legal entity. By ensuring the fact that the economic entity respects the corporate governance standards, the internal audit establishes the development of an integrity reputation, the development of business relations based on trust

Implications of standardization and harmonization of accounting for Romania

Accountancy normalization supposes rules and accountancy standards making, rules which are accomplished in the way of common denominator concerning the way of action and implementation in order to realize a content comparison and accountancy in formations approach. Accountancy normalization process is structured in two main areas: national accountancy normalization and international accountancy normalization. Though international accountancy normalization concept has to be realized a difference between accountancy normalization made by international accountancy body, which do not belong to a certain culture or nation , and regional accountancy normalization from the point of view of culture and its influences which incorporate an conglomerate of such elements.We tried to put in light the importance of the normalization and harmonization process, what it’s done in and what we have to do for that in Romania

Method application of discounted cash flow in an evaluation of an entity of furniture industry in Romania

Production of furniture is the most complex activity in the wood industry in Romania, is also recognized as the best performing form of exploitation of the wood in terms of value added to the size of a cubic meter of raw wood. Requirements imposed on the furniture products in terms of accuracy and finish processing have led in recent years had a profound restructuring of the management of furniture factories, supported by a remarkable progress of the whole system of machinery involved in manufacturing technologies. In order to ensure opportunities for internal and external markets through a harmonious development, furniture industry in Romania, to take account of priority trends are manifested in European and world economy in the use and recovery of wood as a primary resource materials premium, being a renewable resource. Here are some reasons why we chose to analyze and evaluate it by the method mentioned in the title, an entity in the furniture industry in Romania, evaluated from the perspective of getting the cash flow in a forecast horizon of its activity