Journal of Accounting and Management Information Systems (JAMIS)

Comparative study of accounting regulations regarding financial expenses

11-12/2005 ,   p70..75


Keywords:   accounting system, accounting regulation, European rules, financial expenses

In Romania’s process of integration in the European Union the creation of a competitive accounting system has been a very important matter. The coming into force of the accounting regulations in compliance with the European rules, approved by O.M.F.P. 1725/2005, constitutes an important step in the gradual elimination of the legal and accounting-related disparities between the economic entities.
In this context, an extensive discussion could be developed starting from the unique model of the general accounting in what concerns the economic entities in our country, the differences being present only at the level of the annual financial statements’ structure.
In this particular paper several significant elements taken from the international regulations in accounting have been inserted, in order to demonstrate how they have been applied to the accounting-related legislation in our country. Since the amount of information is quite big, we limited our comparative analysis to the level of the laws that belong to the area of the expenses that result from the exchange rate and the domain of the expenses with bank interests.