Impact of IFRS-Adoption on Romanian Companies
Impact of IFRS-Adoption on Romanian Companies

Summary/Abstract: Accounting globalization aims the transformation of the accounting system into an economic and financial model, able to inform more correctly and rapidly the accounting information users, amongst which the investors and the creditors are clearly delimited. Within this context, the need of a harmonized and well oriented accounting system has become imperative. The adoption of a set of international accounting standards in Europe is intended to provide uniform and high quality information on the financial markets which would consolidate the global market efficiency, reducing the cost of capital accessing for European companies. There are numerous opinions according to which the IFRS adoption could be an element of abolishing the discrepancies between the accounting systems, at the same time offering a high level of transparency of the financial information. Our objective is to analyze the opportunity of implementing the IAS/IFRS referential by the Romanian companies, as well as their instant reaction within this context.

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