WAYS TO RECONCILE FINANCIAL ACCOUNTING AND MANAGEMENT ACCOUNTING
Autor (i): Radu, Florin
JEL: M40, M41
Cuvinte cheie: reconciliation, management, accounting, integrate
Abstract:
Reconciliation between financial accounting and management accounting should always be possible, whether or not the two systems are integrated. Management accounting can take, depending on the degree of integration, three forms, namely: Integrated in financial accounting; Independent or autonomous in relation to financial accounting; Extra. In our country the organization and leadership of management accounting is governed by OMPF 1826/2003. It foresees that the management accounting can be done using specific accounts (independent accounting), by developing the accounts in financial accounting (integrated accounting), or by using its own operational and technical evidence (extra-). Integrated or independent accounting management are intra-accounting solutions which are expected to adhere to the regular registration of accounting of a firm. For this reason there may be constraints contradictory to the management needs consisting in obtaining relevant data as soon as possible.
Reconciliation between financial accounting and management accounting should always be possible, whether or not the two systems are integrated. Management accounting can take, depending on the degree of integration, three forms, namely: Integrated in financial accounting; Independent or autonomous in relation to financial accounting; Extra. In our country the organization and leadership of management accounting is governed by OMPF 1826/2003. It foresees that the management accounting can be done using specific accounts (independent accounting), by developing the accounts in financial accounting (integrated accounting), or by using its own operational and technical evidence (extra-). Integrated or independent accounting management are intra-accounting solutions which are expected to adhere to the regular registration of accounting of a firm. For this reason there may be constraints contradictory to the management needs consisting in obtaining relevant data as soon as possible.
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