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Considerations Regarding The Accounting Principles Applied In Insolvency Proceedings

Author

Listed:
  • Marioara Avram

    (University of Craiova Faculty of Economics and Business Administration)

  • Veronel Avram

    (University of Craiova Faculty of Economics and Business Administration)

Abstract

The Romanian economy, after 1990, has undergone a comprehensive restructuring process from centrally planned economy to an economy governed by the rules of the market economy, rules of the game led to a competitive type economy, with winners and laggards, with winners and losers. In the first phase, the restructuring of the Romanian enterprises has known just the division into two or more independent entities. Subsequently, according to the model of Western economies, the economic entities in our country during the process of restructuring and reorganization adopted a second way, namely the merger with its two versions: the merger by absorption and merger by fusion. The permanent struggle to maintain the market segments owned or even more to conquer other market segments as well as tax regulations adopted by our country led to the insolvency of a large number of businesses. Recent regulations bring some new administrative and foremost procedures to prevent insolvency. Thus, borrowers in financial difficulty are able to choose one of the following procedures: ad-hoc mandate and the preventive arrangement.

Suggested Citation

  • Marioara Avram & Veronel Avram, 2014. "Considerations Regarding The Accounting Principles Applied In Insolvency Proceedings," Annals of University of Craiova - Economic Sciences Series, University of Craiova, Faculty of Economics and Business Administration, vol. 1(42), pages 172-177.
    • Handle: RePEc:aio:aucsse:v:1:y:2014:i:42:p:172-177
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    File URL: http://feaa.ucv.ro/AUCSSE/0042v1-023.pdf
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    References listed on IDEAS

    as
    1. Oecd, 2014. "Access Network Speed Tests," OECD Digital Economy Papers 237, OECD Publishing.
    2. Greti Daniela Togoe & Dorel Mates & Mileva Valentina Manescu Dragotoiu, 2013. "Impact Of Ethical Values Promoted By Professional Accountants On The Organizational Culture," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 1(1), pages 1280-1285, July.
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    Cited by:

    1. Alina Georgiana Motoi & Aurelia Dumitru & Liviu Curelaru, 2016. "Basic Accounting in European Projects," Annals of the University of Craiova for Journalism, Communication and Management, Department of Communication, Journalism and Education Sciences, University of Craiova, vol. 2(1), pages 119-130, October.

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    More about this item

    Keywords

    critical; insolvency; ad-hoc mandate; preventive arrangement; reorganization; insolvency practitioner;
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • M49 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Other

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