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Impact Of Ifrs On The Accounting Numbers Of Romanian Listed Banks

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  • Costel Istrate

    (Alexandru Ioan Cuza University of Iasi, Romania)

Abstract

The evolutions of the financial reporting for Europeans listed companies lead these companies to adopt International Financial Reporting Standards (IFRS) for their consolidated financial statement since 2005. There are three banks listed at the Bucharest Stock Exchange (BVB), all of them at the first tier of the BVB. Starting with 2012, these banks are required to apply IFRS also in their individual financial statements. This event allows us to try to measure the distance between Romanian accounting standards (RAS) and the IFRS, by comparing the accounting figures for the year 2011 reported in the 2011 financial statement (RAS) and in the 2012 (as comparative year). Our findings suggest that the impact of IFRS results in an improvement of on some key accounting numbers (equities, net income, leverage).

Suggested Citation

  • Costel Istrate, 2014. "Impact Of Ifrs On The Accounting Numbers Of Romanian Listed Banks," The Journal of Accounting and Management, Danubius University of Galati, issue 2, pages 45-49, August.
    • Handle: RePEc:dug:jaccma:y:2014:i:2:p:45-49
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    File URL: http://journals.univ-danubius.ro/index.php/jam/article/view/2683/2315
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    References listed on IDEAS

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    Cited by:

    1. Inesa TOFĂNICĂ & Emil HOROMNEA, 2020. "The effect of IFRS application on turnover figures of Romanian companies," CES Working Papers, Centre for European Studies, Alexandru Ioan Cuza University, vol. 12(2), pages 156-166, September.
    2. Ioan-Bogdan ROBU & Costel ISTRATE & Ionut Viorel HERGHILIGIU, 2019. "The Use of Audit Opinion in Estimating the Financial Reporting Transparency Level," The Audit Financiar journal, Chamber of Financial Auditors of Romania, vol. 17(153), pages 1-79.
    3. Daniela PORDEA & Alin-Constantin DUMITRESCU, 2021. "Convergence to IFRS in Romania – Score per Minute," The Audit Financiar journal, Chamber of Financial Auditors of Romania, vol. 19(162), pages 373-373, May.
    4. Valentin BURCA, 2014. "Implications of IFRS Adoption on Balance-Sheet vs Income Statement Figures," Economics and Applied Informatics, "Dunarea de Jos" University of Galati, Faculty of Economics and Business Administration, issue 3, pages 33-42.
    5. Inesa TOFANICA & Emil HOROMNEA & Alin CHELARIU, 2016. "Ifrs Adoption In Romania And The Importance Of Auditor Size," THE YEARBOOK OF THE "GH. ZANE" INSTITUTE OF ECONOMIC RESEARCHES, Gheorghe Zane Institute for Economic and Social Research ( from THE ROMANIAN ACADEMY, JASSY BRANCH), vol. 25(1), pages 3-10.
    6. Maria Carmen HUIAN, 2015. "Impact Of The Ifrs Adoption On Financial Assets And Liabilities. Empirical Evidence From Bucharest Stock Exchange," Review of Economic and Business Studies, Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, issue 16, pages 69-90, December.
    7. Costel ISTRATE & Ioan Bogdan ROBU & Mihai CARP, 2015. "Impact Of The Transition To Ifrs For The Romanian Listed Companies In Financial Distress," Review of Economic and Business Studies, Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, issue 15, pages 83-102, June.
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