Journal of Accounting and Management Information Systems (JAMIS)

Some remarks regarding IAS/IFRS use in Romania

Supp/2006 ,   p128..135


Keywords:   IAS/IFRS, financial statements, accounting policies


The history of IAS/IFRS use in Romania begins in 1999, when the regulatory body issued the first draft of accounting standards harmonized with the European Directives and the IAS/IFRS. Starting 2000, some companies are obliged to apply the international framework. The efforts to understand, to assimilate and to apply it were important, given the costs to train the staff, to buy the logistic and to adjust the information system. The IAS/IFRS implementation for some companies in the European Union and the accession of Romania in the EU generate the need to apply more strictly these standards. This study aims to identify the accounting policies used by 16 Romanian companies that are obliged to apply IAS/IFRS and the manner in which the standards are applied.