IDEAS home Printed from https://ideas.repec.org/a/cbu/jrnlec/y2024v4p120-131.html
   My bibliography  Save this article

Legal And Regulatory Framework Of Accounting In Romania

Author

Listed:
  • TEIUSAN SORIN-CIPRIAN

    (1 DECEMBRIE 1918 UNIVERSITY OF ALBA IULIA)

Abstract

Legislation refers to a law or a set of laws, but also to a process of making or enacting laws. Foundation of administration in today's social order, legislation has a significant impact on people's lives and the functioning of organizations. Legislation is expressed in different forms. Every country in the world has its own legislation. The Romanian legal framework includes the following sources of law: the Constitution of Romania, legislation adopted by Parliament, decrees of the President of Romania, legislative acts of the Government, legislative acts issued by central government, acts of the autonomous administrative authorities, legislative acts issued by local government authorities. This article highlights the legal and regulatory framework of accounting in Romania. The current Romanian accounting system is dualist, comprising financial accounting or external accounting, and management accounting or internal accounting. Accounting Law no. 82 of 1991, republished in 2008, with subsequent amendments and additions, is the main legislative instrument for all entities obliged to keep accounts. For the organization and management of the accounting of public sector entities, as well as for the organization and management of the accounting of private sector entities, the Ministry of Public Finance has developed accounting regulations, approved by orders of the Minister of Public Finance. For each type of entity there are specific regulations. The results consist in providing the main legal accounting regulations for both public and private sector entities, with the aim of assisting accounting economists and all those interested in the field of accounting. It is important not only to know the legislation in force for the accounting field, but also to have that legislation updated.

Suggested Citation

  • Teiusan Sorin-Ciprian, 2024. "Legal And Regulatory Framework Of Accounting In Romania," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 4, pages 120-131, August.
    • Handle: RePEc:cbu:jrnlec:y:2024:v:4:p:120-131
    as

    Download full text from publisher

    File URL: https://www.utgjiu.ro/revista/ec/pdf/2024-04/12_Teiusan.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Marius Deac, 2013. "Romanian Accounting - A Tale of Two Standards," Annals of the University of Petrosani, Economics, University of Petrosani, Romania, vol. 13(1), pages 89-98.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Bogdan Oana & Mateş Dorel & Domil Aura Emanuela & Puşcaş Marina Adriana & Puşcaş Ancuţa & Teşu Ramona, 2017. "Accounting practitioners perception over the impact of IFRS implementation on the performance of entities in the construction sector from the western region of Romania," Studia Universitatis „Vasile Goldis” Arad – Economics Series, Sciendo, vol. 27(4), pages 26-36, December.
    2. Omar Alhato & Alexandra Botoş, 2021. "Case Study Of The Origin And The Evolution Of Accounting Systems Regarding To The Harmonization Of International Financial Reporting Standards (Ifrs) In Jordan And Romania," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 1(1), pages 156-163, July.

    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:cbu:jrnlec:y:2024:v:4:p:120-131. 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.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with 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: Ecobici Nicolae The email address of this maintainer does not seem to be valid anymore. Please ask Ecobici Nicolae to update the entry or send us the correct address (email available below). General contact details of provider: https://edirc.repec.org/data/fetgjro.html .

    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.