Financial Accounting An IFRS Perspective in Romania
This book covers the principles, concepts, techniques and practical tools of financial accounting in supporting overall business decisions. Using a comprehensive theoretical framework, this book is enhanced by practical examples, exercises, chapter summar
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Financial Accounting An IFRS Perspective in Romania
Financial Accounting
Adriana Duţescu
Financial Accounting An IFRS Perspective in Romania
Adriana Duţescu Bucharest University of Economic Studies Bucharest, Romania
ISBN 978-3-030-29484-7 ISBN 978-3-030-29485-4 (eBook) https://doi.org/10.1007/978-3-030-29485-4 © The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG 2019 This work is subject to copyright. All rights are solely and exclusively licensed by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, expressed or implied, with respect to the material contained herein or for any errors or omissions that may have been made. The publisher remains neutral with regard to jurisdictional claims in published maps and institutional affiliations. This Palgrave Macmillan imprint is published by the registered company Springer Nature Switzerland AG The registered company address is: Gewerbestrasse 11, 6330 Cham, Switzerland
Foreword
I have been asked to provide a short introduction to “Financial Accounting-an IFRS perspective in Romania”, coordinated by Professor Adriana Duţescu, the product of an enthusiastic team of academics from Romania. I would like to stress that, in my opinion, this kind of academic endeavour is important because it offers a different perspective on financial reporting, in which material cultural differences are explained and exemplified, in a clear and concise manner. Throughout cultural diversity and specific national standards convergence efforts we shall better understand the complexity and potential of IFRS implementation. As it has been stressed on several occasions, accounting should be the most straightforward of topics for policymakers to deal with. Accounting should keep capitalism honest, as Sir David Tweedie, my predecessor as Chairman of IASB used to say, and this expectation continues to put pressure on accounting standards and on their way of implementation. There is criticism in terms of ambiguity and lack of precision of accounting information but one has to be aware that this is the “nature of the beast”. Accounting is not an exact science; still, measurement te
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