Accounting aspects regarding the financial statements of the year 2006
Author:
PhD Georgeta PETRE
JEL:
DOI:
Keywords:
transposition, audit, profit distribution, restrictions, update, stocking
Abstract:
For commercial entities, financial statements for the financial year of 2006 are drawn up by applying the accounting regulations in force at that time, respectively the Accounting Regulations conform with European Directives, approved by the Order of the minister of public finance no. 1752/2005 (published in the Official Journal of Romania no. 1080 and 1080 bis from 30th November 2005).\r\n\r\nThe Accounting Regulations conform with European Directives have two parts corresponding to the European Directives in the accounting field which have been already transposed in the Romanian legislation, namely the Accounting Regulations conform with the Fourth Directive of EEC and the Accounting Regulations conform with the Seventh Directive of EEC.\r\n\r\nThe article presents a range of important aspects regarding the financial statements of the financial year of 2006: the application of the Accounting Regulations conform with European Directives starting with 1th of January, 2006 – the manner of transposing of the accounts; the audit and the verification of the financial statements; provisions regarding the distribution of the profit and the related restrictions provided by the law in this case; dividends; covering of the accounting loss.\r\n