haku: @indexterm Harmonization / yhteensä: 97
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| Tekijä: | Ionascu, I. (et al.) |
| Otsikko: | An empirical evaluation of the costs of harmonizing Romanian accounting with international regulations (EU Directives and IAS/IFRS) |
| Lehti: | Accounting in Europe
2007 : VOL. 4:1-2, p. 169-206 |
| Asiasana: | accounting standards financial reporting regulations harmonization costs companies Romania European Union |
| Kieli: | eng |
| Tiivistelmä: | This paper aims to identify and evaluate the harmonizing costs of Romanian accounting with international regulations (EU Directives and International Accounting Standards/International Financial Reporting Standards (IAS/IFRS). Three types of costs are hypothesized to be prevalent: consultants' fees, costs to adjust existing information systems and personnel training costs. In addition, harmonization benefits are also hypothesized to be noticeable for the entities making frequent use of foreign finance and for the ones with majority foreign shareholders. Empirical part is based on data from questionnaires sent to the finance directors of listed Romanian companies. As full application of IAS/IFRS by non-financial companies has been postponed until 2007, comments on the benefits and costs of gradual reforms as opposite to a one-step adoption of IAS/IFRS are also included. |
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