International Financial Reporting Standards

Author:PhD. Alexandru RUSOVICI, PhD. Gheorghe RUSU

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Keywords:framework, IFRS, framework for financial statements preparing and presentation, IAS 1: „Financial Statement presentation”, users, principles, qualitative characteristics

Abstract:
In one of the biggest classrooms of the Academy of Economic Studies in Bucharest, long time ago, Mr. professor Niculae Feleaga, PhD. , chief pf the international accounting and financial information section, said the following (I try to recall the text he delivered): „A modern accounting lesson should start with how the objectives and the architecture of a framework are assimilated (in the respective accounting),although this endeavor would risk to fail in the accounting system techniques, up to the debit – credit relationship limit”.

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