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Accounting Competencies and the Changing Role of Accountants in Emerging Economies: The Case of Romania

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  • Cătălin Albu
  • Nadia Albu
  • Robert Faff
  • Allan Hodgson

Abstract

Over a recent short period, a number of interventions potentially helped move the Romanian accounting system away from being a tool simply used to support a planned economy. They include harmonization with the European Directives, the introduction of International Financial Reporting Standards (IFRS) and an increased move towards modern information technologies such as Enterprise Resource Planning (ERP) software. In this study, we directly explore these influences by applying job-offer analysis as a reflection of the current and future demand for accounting competencies. We first document current competencies expected from accountants in Romanian businesses and then assess the intervention impact on financial and management accountants. We hypothesize external influences would move Romanian accountants away from the traditional separate specialized positions towards more hybrid accounting positions, such as that adopted in the UK. Whilst our analysis supports a degree of transition with alignment to recent global trends, it also reveals some intransigence in the sense that management and financial accounting positions still tend to retain attributes associated with the two-cycle accounting system. Our findings have implications for harmonization issues and accounting education in Romania.

Suggested Citation

  • Cătălin Albu & Nadia Albu & Robert Faff & Allan Hodgson, 2011. "Accounting Competencies and the Changing Role of Accountants in Emerging Economies: The Case of Romania," Accounting in Europe, Taylor & Francis Journals, vol. 8(2), pages 155-184.
    • Handle: RePEc:taf:acceur:v:8:y:2011:i:2:p:155-184
    DOI: 10.1080/17449480.2011.621395
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    1. Albu Nadia & Albu Catalin & Garbina Madalina, 2012. "IMPROVING CORPORATE GOVERNANCE IN EMERGING ECONOMIES -AN ANALYSIS OF THE IMPLICATIONS ON THE ACCOUNTANTSâ€(tm) ROLES AND COMPETENCIES," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 1(1), pages 846-852, July.
    2. Ergo Ottoson & Monika Nikitina-Kalamae & Natalja Gurvitš, 2016. "The Role of Accountant in the Estonian Enterprise," Central European Business Review, Prague University of Economics and Business, vol. 2016(2), pages 47-56.
    3. Ioan Pop & Szilveszter Fekete & Dan Dacian Cuzdriorean, 2013. "Relationship Between Accounting And Taxation In Romania: A Behavioral Analysis," Annales Universitatis Apulensis Series Oeconomica, Faculty of Sciences, "1 Decembrie 1918" University, Alba Iulia, vol. 1(15), pages 1-7.
    4. Costel Istrate, 2012. "Les Femmes Dans La Profession Comptable Roumaine Actuelle," Post-Print hal-00690974, HAL.
    5. Carl A. Crittenden II & William F. Crittenden, 2014. "The Accounting Profession’S Role In Corporate Governance In Frontier Markets: A Research Agenda," Organizations and Markets in Emerging Economies, Faculty of Economics, Vilnius University, vol. 5(2).
    6. Raluca Valeria RATIU, 2014. "Accounting Regulations For Goodwill In An Emerging Country- The Case Of Romania," SEA - Practical Application of Science, Romanian Foundation for Business Intelligence, Editorial Department, issue 5, pages 549-554, November.
    7. Sándor Rózsa & Ileana Andreica & Gheorghe Poșta & Tincuța-Marta Gocan, 2022. "Sustainability of Agaricus blazei Murrill Mushrooms in Classical and Semi-Mechanized Growing System, through Economic Efficiency, Using Different Culture Substrates," Sustainability, MDPI, vol. 14(10), pages 1-18, May.
    8. Ștefan Bunea & Flavius-Andrei Guinea, 2023. "Stakeholders’ Perceptions of the Vocational Competences Acquired by Students Enrolled in Accounting Master’s Programmes in Romania," Sustainability, MDPI, vol. 15(9), pages 1-28, April.
    9. Dominika Hadro & Karol Marek Klimczak & Marek Pauka, 2017. "Impression Management in Letters to Shareholders: Evidence from Poland," Accounting in Europe, Taylor & Francis Journals, vol. 14(3), pages 305-330, September.
    10. Assist. Cristina Circa Ph.D. & Assoc. Prof. Alina Almasan Ph.D. & Lect. Romeo Margea Ph.D. & Lect. Camelia Margea Ph.D., 2015. "Erp Systems And Management Accounting – Evolutions And Challenges," Revista Tinerilor Economisti (The Young Economists Journal), University of Craiova, Faculty of Economics and Business Administration, vol. 1(24), pages 155-166, APRIL.
    11. Apostol, Oana & Pop, Alina, 2019. "‘Paying taxes is losing money’: A qualitative study on institutional logics in the tax consultancy field in Romania," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 58(C), pages 1-23.

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