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Sustainability Of Adaptations To The Anglo-Saxon Accounting System In Romania

Author

Listed:
  • Florentina Moisescu

    (University Dunărea de Jos of Galaţi, Romania)

  • Nechita Daniela

    (University Dunărea de Jos of Galaţi, Romania)

Abstract

The purpose of this article is to highlight the necessity of integrating sustainability in the financial reports of Romanian companies and implicitly in the competences of the accounting specialists. Starting from the similarities and differences of the two accounting systems, continental - applicable at present and the AngloSaxon accounting system - to which it strives, we have addressed the problem of adapting to the international accounting system in Romania. We studied the extent to which the national accounting system requires a reconfiguration under the influence of the tendencies of sustainable economic development. The dual accounting system in Romania involves the development of a separate circuit for management accounting, a circuit whose deliverables are known only by the manager and less by the other users. As a result, the financial reports are incomplete, from this point of view and in most cases the users of financial statements make decisions based on incomplete information or affected by taxation.

Suggested Citation

  • Florentina Moisescu & Nechita Daniela, 2021. "Sustainability Of Adaptations To The Anglo-Saxon Accounting System In Romania," Management Strategies Journal, Constantin Brancoveanu University, vol. 51(1), pages 161-169.
    • Handle: RePEc:brc:journl:v:51:y:2021:i:1:p:161-169
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    More about this item

    Keywords

    managerial accounting; the Anglo-Saxon system; the continental system; harmonization;
    All these keywords.

    JEL classification:

    • P51 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems - - - Comparative Analysis of Economic Systems
    • P52 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems - - - Comparative Studies of Particular Economies

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