<abstract xmlns="http://www.w3.org/1999/xhtml"><p>The development and configuration of the regulatory framework of the accounting systems in Romania and Hungary took place in different ways. Among the reasons for the diversities in these countries’ accounting systems, the following can be certainly mentioned: different purposes of taxation, legal structure, the accountancy’s connection with the corporate law and family law, diversification on corporate financing policy, and cultural heterogeneity. Both countries quickly caught up with the international accounting harmonization standards. The adaptation of the international accounting standards has many advantages and disadvantages; these have been discussed in several previous researches. This paper aims at comparing the Romanian and Hungarian states’ accounting regulations from the early 1990s, which were implemented in order to harmonize the states’ accountancy regulations with the international standards, and their impact on the economy, based on secondary analysis.</p></abstract>

The development and configuration of the regulatory framework of the accounting systems in Romania and Hungary took place in different ways. Among the reasons for the diversities in these countries’ accounting systems, the following can be certainly mentioned: different purposes of taxation, legal structure, the accountancy’s connection with the corporate law and family law, diversification on corporate financing policy, and cultural heterogeneity. Both countries quickly caught up with the international accounting harmonization standards. The adaptation of the international accounting standards has many advantages and disadvantages; these have been discussed in several previous researches. This paper aims at comparing the Romanian and Hungarian states’ accounting regulations from the early 1990s, which were implemented in order to harmonize the states’ accountancy regulations with the international standards, and their impact on the economy, based on secondary analysis.

The Harmonization of Accounting

Department of Economics, Faculty of Economics and Human Sciences

Sapientia Hungarian University of Transylvania

Acta Universitatis Sapientiae, Economics and Business

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

{"article-title":"The Harmonization of Accounting"}

The development and configuration of the regulatory framework of the accounting systems in Romania and Hungary took place in different ways. Among the reasons...

The Harmonization of Accounting

Published Online: Nov 10, 2017

Page range: 29 - 43

DOI: https://doi.org/10.1515/auseb-2017-0002

Keywords
harmonization, accountancy, IAS, IFRS, accounting standards

© 2017 Noémi Hajnal, published by De Gruyter Open

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

The Harmonization of Accounting

Published Online: Nov 10, 2017

Page range: 29 - 43

DOI: https://doi.org/10.1515/auseb-2017-0002

Keywordsharmonization, accountancy, IAS, IFRS, accounting standards

© 2017 Noémi Hajnal, published by De Gruyter Open

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Keywords
harmonization, accountancy, IAS, IFRS, accounting standards