SUSTAINABILITY OF ADAPTATIONS TO THE ANGLO-SAXON ACCOUNTING SYSTEM IN ROMANIA
Autor (i): Florentina Moisescu1 Nechita Daniela2
JEL: P 51, P 52
Cuvinte cheie: managerial accounting, the Anglo-Saxon system, the continental system, harmonization
Abstract:
The purpose of this article is to highlight the necessity of integrating sustainability in the financial reports of Romanian companies and implicitly in the competences of the accounting specialists. Starting from the similarities and differences of the two accounting systems, continental - applicable at present and the AngloSaxon accounting system - to which it strives, we have addressed the problem of adapting to the international accounting system in Romania. We studied the extent to which the national accounting system requires a reconfiguration under the influence of the tendencies of sustainable economic development. The dual accounting system in Romania involves the development of a separate circuit for management accounting, a circuit whose deliverables are known only by the manager and less by the other users. As a result, the financial reports are incomplete, from this point of view and in most cases the users of financial statements make decisions based on incomplete information or affected by taxation.
The purpose of this article is to highlight the necessity of integrating sustainability in the financial reports of Romanian companies and implicitly in the competences of the accounting specialists. Starting from the similarities and differences of the two accounting systems, continental - applicable at present and the AngloSaxon accounting system - to which it strives, we have addressed the problem of adapting to the international accounting system in Romania. We studied the extent to which the national accounting system requires a reconfiguration under the influence of the tendencies of sustainable economic development. The dual accounting system in Romania involves the development of a separate circuit for management accounting, a circuit whose deliverables are known only by the manager and less by the other users. As a result, the financial reports are incomplete, from this point of view and in most cases the users of financial statements make decisions based on incomplete information or affected by taxation.
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