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The primary role of accounting is to provide high quality financial information to a wide range of users. In today’s economy characterized by the globalization of financial markets and the cross-border development of the main transactions between business partners, the comparability of the indicators presented by the financial statements of the entities is essential in the decision-making process. That is why at the level of the international accounting regulators an important issue is the process of harmonization and convergence of the relevant legislation. Based on these prerequisites, we have compiled a comparative study between Romanian accounting regulations and IFRS, considering the main business transactions conducted by entities. The results reflect a high level of accounting convergence in our country and can be a starting point for a quantitative analysis based on statistic correlation coefficients. At the same time, a survey-based approach may still be useful in determining the perception of the business environment on the process of accounting harmonization. |
