Journal of Accounting and Management Information Systems (JAMIS)

Recent changes in the structure of accounting regulation in Romania and Hungary

20/2007 ,   ...

Szilveszter FEKETE P.P.
Dumitru MATIŞ

Keywords:   accounting regulation, accounting system, accounting theories, IFRS, European Directives

Although from political-economic point of view both countries seem to be similar (communist regime, reform period, EU integration), from the standpoint of accounting regulation they clearly differ, since Hungary adopted the German model and Romania the French one. The target is similar again: implementing IAS/IFRS in the national accounting rules.
This paper explores the latest changes in the accounting thought and regulation in both countries taking in consideration the pressure of globalization (adoption of IFRSs), the specificity and competitiveness of national economy.
Since we draw our conclusions primarily from Romanian point of view and also have in mind our experiences, we show possible scenarios for future development learning from the successes and failures of the Hungarian accounting regulation.