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International Accounting Standards on Business Combinations and Their Implementation in the Accounting in Romania

Author

Listed:
  • Iuliana Cenar

    (1 December 1918 University)

  • Letitia Maria Isac

    (1 December 1918 University)

Abstract

The purpose of this paper is to outline the specifics of an operation less applicable in our country, namely business combination. After formulating several views on the necessity of applying IFRS in Romanian accounting environment, there were highlighted the imperfections shown by the old international accounting norm that governed this type of transaction and the solutions offered by IFRS 3 for these imperfections. The study was divided into two approaches: a conceptual one, of deepening the realization methods and the accounting treatment prescribed by IFRS 3 for business combinations and a pragmatic one, of simulating an operation of combination for the two resident entities.

Suggested Citation

  • Iuliana Cenar & Letitia Maria Isac, 2013. "International Accounting Standards on Business Combinations and Their Implementation in the Accounting in Romania," Knowledge Horizons - Economics, Faculty of Finance, Banking and Accountancy Bucharest,"Dimitrie Cantemir" Christian University Bucharest, vol. 5(Special 1), pages 92-100, December.
    • Handle: RePEc:khe:journl:v:5:y:2013:i:1special:p:92-100
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    More about this item

    Keywords

    Standard; acquisition; combination; commercial estate; financial reporting;
    All these keywords.

    JEL classification:

    • M40 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - General
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

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