IDEAS home Printed from https://ideas.repec.org/a/ami/journl/v11y2012i2p243-263.html
   My bibliography  Save this article

Impact of IFRS on Romanian Accounting and Tax Rules for Fixed Tangibles Assets

Author

Listed:
  • Costel ISTRATE

    (Alexandru Ioan Cuza University of Iaºi, Romania)

Abstract

Romanian accounting and tax rules have evolved, after 1990, from an almost complete connection to a more and more clear de jure disconnection. One reason for this development is the influence of the international financial reporting standards. Analyzing the relationship between accounting and taxation, we find some interesting evolutions in the field of tangible fixed assets. The current Romanian accounting standards include many detailed rules taken directly from the IAS 16 (the initial recognition and measurement, the revaluation, the depreciation of fixed assets), while the tax law doesn’t follow the same way. Since 2004, the Romanian Tax Code states explicitly that the accounting depreciation is separate from the tax depreciation. However, we found, for Romanian entities listed on Bucharest Stock Exchange, that the accelerated method of depreciation (a tax one) is used sometimes in accounting. More than 80% of the listed entities revalue buildings and we could think this is for tax reasons.

Suggested Citation

  • Costel ISTRATE, 2012. "Impact of IFRS on Romanian Accounting and Tax Rules for Fixed Tangibles Assets," Journal of Accounting and Management Information Systems, Faculty of Accounting and Management Information Systems, The Bucharest University of Economic Studies, vol. 11(2), pages 243-263, June.
    • Handle: RePEc:ami:journl:v:11:y:2012:i:2:p:243-263
    as

    Download full text from publisher

    File URL: http://online-cig.ase.ro/RePEc/ami/articles/11_2_9.pdf
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Adela Deaconu & Dan Dacian Cuzdriorean, 2016. "Accounting and the state in post-communist Romania," African Journal of Accounting, Auditing and Finance, Inderscience Enterprises Ltd, vol. 5(1), pages 59-93.
    2. Ioan Pop & Szilveszter Fekete & Dan Dacian Cuzdriorean, 2013. "Relationship Between Accounting And Taxation In Romania: A Behavioral Analysis," Annales Universitatis Apulensis Series Oeconomica, Faculty of Sciences, "1 Decembrie 1918" University, Alba Iulia, vol. 1(15), pages 1-7.
    3. Mirela PAUNESCU, 2018. "Exploratory study on accounting and taxation of virtual currencies by Romanian companies," The Audit Financiar journal, Chamber of Financial Auditors of Romania, vol. 16(150), pages 239-239.
    4. Diana-Andreea, TRAISTARU, 2014. "The Application Of International Financial Reporting Standards In Romania: Advantages And Main Problems," Management Strategies Journal, Constantin Brancoveanu University, vol. 26(4), pages 271-277.
    5. Claudia-Elena Grigoras-Ichim & Lucia Morosan-Danila, 2020. "The Evolution of the Limitation of the Application of the Accounts Function by Romanian Companies," Book chapters-LUMEN Proceedings, in: Carmen NÄ‚STASE (ed.), 16th Economic International Conference NCOE 4.0 2020, edition 1, volume 13, chapter 13, pages 139-147, Editura Lumen.
    6. Andreea Mihaela MARIN, 2017. "The Perception of the Romanian Economic Environment Regarding the Adoption of the International Financial Reporting Standards," North Economic Review, Technical University of Cluj Napoca, Department of Economics and Physics, vol. 1(1), pages 174-178, October.
    7. Nadia ALBU & Ioana PALARIE, 2016. "Convergence of Romanian accounting regulations with IFRS. A longitudinal analysis," The Audit Financiar journal, Chamber of Financial Auditors of Romania, vol. 14(138), pages 634-634, June.

    More about this item

    Keywords

    accounting vs. taxation; RAS vs. IFRS; depreciation; revaluation;
    All these keywords.

    JEL classification:

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

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ami:journl:v:11:y:2012:i:2:p:243-263. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Cristina Tartavulea (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.