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The Art Of "Creative Accounting" In The Current Economic Context

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  • Florentina MOISESCU

    (Faculty of Economics and Business Administration, “Dunarea de Jos” University of Galati, Romania)

Abstract

In Romania, the current economic and financial crisis has led to a fast disappearance of a significant number of Romanian companies, fact that has led the Romanian entrepreneurs to a series of desperate measures such as creative accounting. This study aims to highlight the expansion of creative accounting in the current economic context and the implications of its use. What apparently seems to be a "lifeboat" in the “rough waters of the crisis" actually proves, most of the times, to be just a compromise, with short term gain being chosen instead of long-term financial viability. Primarily, the purpose of this study is to emphasize the fragility of the "border" that exists between creative accounting and fraud and how easily it is for someone to break it. Secondarily, it aims to answer the question that arises more often in the minds of entrepreneurs: “Is creative accounting an optimal solution to overcome the financial crisis?".

Suggested Citation

  • Florentina MOISESCU, 2016. "The Art Of "Creative Accounting" In The Current Economic Context," Contemporary Economy Journal, Constantin Brancoveanu University, vol. 1(2), pages 38-42.
    • Handle: RePEc:brc:brccej:v:1:y:2016:i:2:p:38-42
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    References listed on IDEAS

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    1. Arnold, Patricia J., 2009. "Global financial crisis: The challenge to accounting research," Accounting, Organizations and Society, Elsevier, vol. 34(6-7), pages 803-809, August.
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    Cited by:

    1. Iuliana Cenar, 2020. "Perception, Regulation and Reality Regarding Provisions in Public Institutions Accounting in Romania," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 822-829, December.

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    More about this item

    Keywords

    creative accounting; financial crisis; financial scandal; fraud;
    All these keywords.

    JEL classification:

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

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