THE PROFIT AND LOSS ACCOUNT THROUGH THE ROMANIAN ACCOUNTING REGULATIONS. FROM EUROPEAN TO INTERNATIONAL
The paper analyses the profit and loss account from the Romanian accounting regulations’ perspective in terms of format, structure, content, which is subject to the approval of OMPF no.3055/2009 harmonized with the European accounting directives. Even if from the name it appears the compliance with...
| Main Authors: | , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
University of Petrosani
2011-01-01
|
| Series: | Annals of the University of Petrosani: Economics |
| Subjects: | |
| Online Access: | http://www.upet.ro/annals/economics/pdf/2011/part2/Man-Gadau.pdf |
| _version_ | 1818288352082788352 |
|---|---|
| author | MARIANA MAN LIANA GĂDĂU |
| author_facet | MARIANA MAN LIANA GĂDĂU |
| author_sort | MARIANA MAN |
| collection | DOAJ |
| description | The paper analyses the profit and loss account from the Romanian accounting regulations’ perspective in terms of format, structure, content, which is subject to the approval of OMPF no.3055/2009 harmonized with the European accounting directives. Even if from the name it appears the compliance with the European accounting directives, the Romanian profit and loss account brings elements from the international standard IAS1. Moreover, if we compare the structure of profit and loss account chosen by the Romanian policy makers with the structure proposed by the IV Directive, the list model, with the classification of operating expenses by nature, we conclude that they are similar, with small features found in the present order, an order which was also analyzed in the paper. We tried to explain and argue the preference of Romanian policy makers for the list model of profit and loss account, with the classification of expenses by nature, but also the necessity to present, in the explicative notes, the classification of expenses by purpose, which is actually a combination of regulations between the IV Directive and the IAS1 standard. In the second part of the paper we considered interesting to analyze the content of certain elements related to the profit and loss account, namely: the extraordinary elements, the cost of sold goods and services of the Analysis of operating result to capture both Romanian specific features, as well as the elements of IAS1 standard, the net turnover indicator, the items of gain and loss, the stocks variation element and the element Result on action. |
| first_indexed | 2024-12-13T01:55:01Z |
| format | Article |
| id | doaj.art-2492bfbae9f043b18aa0d63a05f7460a |
| institution | Directory Open Access Journal |
| issn | 1582-5949 2247-8620 |
| language | English |
| last_indexed | 2024-12-13T01:55:01Z |
| publishDate | 2011-01-01 |
| publisher | University of Petrosani |
| record_format | Article |
| series | Annals of the University of Petrosani: Economics |
| spelling | doaj.art-2492bfbae9f043b18aa0d63a05f7460a2022-12-22T00:03:24ZengUniversity of PetrosaniAnnals of the University of Petrosani: Economics1582-59492247-86202011-01-01XI2167176THE PROFIT AND LOSS ACCOUNT THROUGH THE ROMANIAN ACCOUNTING REGULATIONS. FROM EUROPEAN TO INTERNATIONALMARIANA MANLIANA GĂDĂUThe paper analyses the profit and loss account from the Romanian accounting regulations’ perspective in terms of format, structure, content, which is subject to the approval of OMPF no.3055/2009 harmonized with the European accounting directives. Even if from the name it appears the compliance with the European accounting directives, the Romanian profit and loss account brings elements from the international standard IAS1. Moreover, if we compare the structure of profit and loss account chosen by the Romanian policy makers with the structure proposed by the IV Directive, the list model, with the classification of operating expenses by nature, we conclude that they are similar, with small features found in the present order, an order which was also analyzed in the paper. We tried to explain and argue the preference of Romanian policy makers for the list model of profit and loss account, with the classification of expenses by nature, but also the necessity to present, in the explicative notes, the classification of expenses by purpose, which is actually a combination of regulations between the IV Directive and the IAS1 standard. In the second part of the paper we considered interesting to analyze the content of certain elements related to the profit and loss account, namely: the extraordinary elements, the cost of sold goods and services of the Analysis of operating result to capture both Romanian specific features, as well as the elements of IAS1 standard, the net turnover indicator, the items of gain and loss, the stocks variation element and the element Result on action.http://www.upet.ro/annals/economics/pdf/2011/part2/Man-Gadau.pdfthe profit and loss account - financial statementsthe format and structure of the profit and loss accountthe content of profit and loss accountperformance indicators |
| spellingShingle | MARIANA MAN LIANA GĂDĂU THE PROFIT AND LOSS ACCOUNT THROUGH THE ROMANIAN ACCOUNTING REGULATIONS. FROM EUROPEAN TO INTERNATIONAL Annals of the University of Petrosani: Economics the profit and loss account - financial statements the format and structure of the profit and loss account the content of profit and loss account performance indicators |
| title | THE PROFIT AND LOSS ACCOUNT THROUGH THE ROMANIAN ACCOUNTING REGULATIONS. FROM EUROPEAN TO INTERNATIONAL |
| title_full | THE PROFIT AND LOSS ACCOUNT THROUGH THE ROMANIAN ACCOUNTING REGULATIONS. FROM EUROPEAN TO INTERNATIONAL |
| title_fullStr | THE PROFIT AND LOSS ACCOUNT THROUGH THE ROMANIAN ACCOUNTING REGULATIONS. FROM EUROPEAN TO INTERNATIONAL |
| title_full_unstemmed | THE PROFIT AND LOSS ACCOUNT THROUGH THE ROMANIAN ACCOUNTING REGULATIONS. FROM EUROPEAN TO INTERNATIONAL |
| title_short | THE PROFIT AND LOSS ACCOUNT THROUGH THE ROMANIAN ACCOUNTING REGULATIONS. FROM EUROPEAN TO INTERNATIONAL |
| title_sort | profit and loss account through the romanian accounting regulations from european to international |
| topic | the profit and loss account - financial statements the format and structure of the profit and loss account the content of profit and loss account performance indicators |
| url | http://www.upet.ro/annals/economics/pdf/2011/part2/Man-Gadau.pdf |
| work_keys_str_mv | AT marianaman theprofitandlossaccountthroughtheromanianaccountingregulationsfromeuropeantointernational AT lianagadau theprofitandlossaccountthroughtheromanianaccountingregulationsfromeuropeantointernational AT marianaman profitandlossaccountthroughtheromanianaccountingregulationsfromeuropeantointernational AT lianagadau profitandlossaccountthroughtheromanianaccountingregulationsfromeuropeantointernational |