Financial statements' main objective is to give information on the financial position, performance and changes in financial position of the reporting entity, which is useful to investors and other users in making economic decisions. In order to be useful, financial information needs to be...

The purpose of this paper is to analyze the degree of formal accounting harmonization within the European Union with respect to the EC Regulation No. 1606/2002 adopted by the European Parliament and European Council on the 19th of July 2002, which regulates the application of IAS/IFRS regarding...

The issue of international accounting harmonization has achieved, mainly within the last decade, a significant dimension in the field of international accounting research. The main determinant factor for this state of the art is the process aiming at redu

Our paper aims at telling the whole story where fair value accounting is concerned. Harsh criticism has been brought to this concept under current circumstances that motivated out research. Without arguing for fair value as something it is not, we briefly

This paper approaches a frequently discussed subject in the context of the current global economic crisis, namely the fair value. The accounting concept, which implies that entities – in a different degree from one accounting system to another – should re

For the past decades International Accounting Standards and other Anglo-Saxon standards, for example the American ones, had promoted fair value as a valuation basis for the elements of the financial statements. Thus, the quality of the financial informati

The importance of accounting in the modern economy is obvious. That is more elevated bodies of the European Union and elsewhere dealing with the organization and functioning of accounting as a fundamental component of business (Nistor C., 2009). The mission of the International Federation of...

This article provides information on business and therefore need managers to obtain information relevant accounting, reliable, clear, accurate and lowest costs to optimize decision making. This need derives from the current economic environment. The survival of organizations in a competitive...

Using financial accounting systems has a significant impact on the organization and management accounting department, accounting work , chart of accounts, management accounts information and the accounting profession. This study is the result of research done over 25 business entities on the...

Through the hereby study we set ourselves on an analysis over the internal control and the ways of implementation of it. The final purpose of our research is represented by the characteristics of the internal control system in the context of current accountancy regulations. The accomplishment of...