Raportarea financiară conform Standardelor Internaționale și locale

Abstract

The world economy has become increasingly interdependent over time, and this process of economic globalization has accelerated significantly in recent years. The growing scale of cross-border trade and international capital flow has led to its own challenges, one of which is the presentation and interpretation of comparable financial information. One of the basic pillars in the decision-making process and in attracting new capital for the continuous improvement of a company's activity is the existence of quality information. Thus, a significant amount of information is obtained from accounting, in particular through the preparation and presentation of financial statements, which must contain accurate information and present realistically and objectively the economic situation of the entity. At present, some countries still maintain and apply their own sets of national accounting and financial reporting standards, resulting in information interpreted differently by foreign partners. Even some minor differences in the accounting standards of different states could have a significant impact on a company's performance and financial position. In this context, we decided to analyze some features of the presentation of financial statements, making a comparison between National Accounting Standards, International Financial Reporting Standards and US GAAP, which are of major interest to companies intending to share in the world market. The research methodology was based on studying the publications of the local economists, which analyse the similarities and divergences between NAS and IFRS; international audit companies, which annually make a comparison between two most important sets of standards: IFRS and US GAAP; and examining the financial statements of an international company. JEL: M41