Empirical study regarding the impact of IFRS standard implementation in Romania. Costs incurred by adopting the IFRS provisions

The theme of the present research refers to the possibility of implementing the international IFRS standards in Romania as well as to the eventual effects which may occur as a result of the adoption of this decision, taking into account that the leveling of the international accounting standards currently in force, becomes more and more necessary and this is the reason why we proceeded to the elaboration of an “Empirical study about the impact of the IFRS implementation in Romania”. Considering that an enhanced convergence of the national regulation with the international ones is required, such a study is necessary to identify the difficulties, costs but also the eventual suggestions necessary to make the implementation process as much as possible accessible to those involved with. We selected this theme because the subject is up-to-date and has a particular importance. In this first part of the study presented by this paper we aim to determine the general profile of the respondents regarding age, experience in the accounting field and IFRS, the general profile of the company they represent, as well as the activities performed prior to using the IFRS and the costs incurred by reporting as per IFRS provisions.