Provisions Regarding the Inventory of Assets, Liabilities and Equity Items

Author:PhD Georgeta PETRE, PhD Alexandra LAZĂR

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Keywords:annual inventory, financial year, responsibility, own procedures, measurement, inventory lists, inventory ledger

Abstract:
The Norms regarding the organization and carrying out of the inventory of assets, liabilities and equity have been approved by the Order of the minister of public finance no. 2861/9.10.2009. On the date of entering into force of this order were abrogated the Norms regarding the organization and carrying out of the inventory of assets and liabilities, approved by the Order of the minister of public finance no. 1753/2004.\r\nThe new norms regarding the organization and carrying out of the inventory represent the general framework for carrying out the inventory for legal persons provided for by the Accounting Law no. 82/1991, republished. The other institutions having regulating attributions in accounting field, respectively National Bank of Romania, Insurance Supervisory Commission, Private Pension System Supervisory Commission and National Securities Commission, may develop provisions specific to the institutions that they authorize, regulate and supervise, as a completion of the abovementioned norms.\r\nThe administrator or other person that has the obligation of managing the entity, is responsible for the good organization of inventory. In this regard, the entities must elaborate their own procedures related to inventory, on the base of the respective norms, approved by the administrator or other person that has the obligation of managing the entity.

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