Volume 30, Issue 1, 2021
DOI: 10.24205/03276716.2020.2076
Analyzing the sustainability of the accounting valuation practices in Romania during the adaptation period to the European Union
Abstract
This article was composed of accounting valuation bases. The historical cost evaluation regime and fair value-based evaluation model are compared by considering certainty, uncertainty, and sustainability.
The article primarily deals with the structures, principles of recognition of the elements incorporated in the assessment of evaluation models and their applications in Romania in the 2000s. Recognition of evaluation models is highlighted by addressing a specific conceptual framework- the criteria are underlying the specific recognition of the different types of approach patrimony and their sustainability. Thus, the general states pair criteria for recognition, resulting in tandem: utility calculating the expense and assessing the valuation.
The criteria found in the IASB Framework and Romania applications are retained in the adaptation the period of the 2000s from a closed economy to western type liberal economy, in general recognition that elements in the evaluation of any company, regardless of accounting to which circumscribe referential, without excluding the necessary details in the presentations of accurate financial statements. The findings have been presented with the support of tables composed of the users’ current applications.
Keywords
Evaluation, revaluation, historical value, financial statements, IFRS, accounting applications.