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ISSN: 2344 - 102X
ISSN-L: 2344 - 102X
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Article from Volume 4, Number 2, Year 2016| IMPLEMENTATION OF IAS 38 IN WEST REGION OF ROMANIA ECONOMIC ENTITIES | 
Download | | Author(s): Alin Emanuel Artene, Aura Emanuela Domil, Moise Domil, Adrian Cosmin Caraiman | | DOI: 10.4316/EJAFB.2016.421 | | Abstract: Romanian economic entities accounting is marked by the process of globalizing of financial markets and the need of information among creditors witch count on the robustness, transparency and comparability of financial reports in order to efficiently allocate available capital. In case of Financial Reporting, national difference prevent efficient of financial resources and in this way increasing the risk and the cost supported by investors.
In this paper we try to emphasize the role of a new and more sustainable accounting and how this community awareness takes into consideration when West Region Economic entities price their business for attracting new investors or convincing creditors? Even dough intangible assets are very important to any company, a great percentage of managers, in the area in which we conducted our study, do not have an adequate understanding of how their brand or trade mark and customer portfolio influence the value of their businesses.
The implementation of International Financial Reporting Standards plays an important role in the revival of the economy trough attracting capital and supporting markets. For obtaining this capital Romanian West-Region economic entities need investors or creditors witch make decisions relying on the information available regarding the companies and the majority of this information is presented in the financial statements.
The most concerning problems that economic entities in the West Region of Romania are facing are the access to finance, which in this times of slow recovery after a great economic and financial crisis represents the greatest threat to their future, not to mention that finding customers is always a challenge especially for small and medium size enterprises.
Romanian economic entities accounting is marked by the process of globalizing of financial markets and the need of information among creditors witch count on the robustness, transparency and comparability of financial reports in order to efficiently allocate available capital. In case of Financial Reporting, national difference prevent efficient of financial resources and in this way increasing the risk and the cost supported by investors. | | Keywords: IFRS, Accounting, IAS 38, SME | References:
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