Reforma litewskiego systemu rachunkowości
The reform of Lithuanian accounting system

Summary/Abstract: The article analyses reorganization of Lithuanian accounting from the Soviet into the Western accounting system meeting the requirements of free market economy. The main events and dates in the reorganization of Lithuanian accounting during 1990-2002 are provided. Analysis of the structure of three accounting laws, namely Act on Accounting, Financial Reporting and Consolidated Financial Statements is provided, and national accounting standards of business and budgetary institutions and the order of preparation thereof is introduced. Next, main deficiencies of the Soviet training system of accounting specialists - strict centralization and ideology - are shortly described. Compulsory lecturing of various pseudodisciplines (social political economy, scientific communism, atheism, etc.) stopped creative initiative and independent thought. Therefore, when the independence of Lithuania (the 11th of March, 1990) was rebuilt and when the market economy relationships started to develop there was a need to take decisive actions to raise the status of the accounting profession and to improve professional qualifications. The article describes how the training process of accounting specialists in the universities of Lithuania was transformed and how qualification update system of accountants - practitioners was created. The programs of Bachelors and Masters studies in accounting are presented in some detail.

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