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Identifying and Analyzing the Accounting Policies Adopted by Economic Entity

Flavio Mucomo Lumbo and Elena (Stanciu) Ioniță
The Doctoral School of the Bucharest University of Economic Studies, Romania


The recognition of an asset is conditioned by a credible assessment of its cost. After this moment, it requires the accounting evaluation to intervene in the following moments: at the inventory, at the end of the exercise and at the date of leaving the entity. We highlight a broad analysis of regulations in Romanian and international law on the accounting for depreciation of tangible fixed assets, emphasizing what are the rules applicable at the initial recognition of fixed assets. What accounting policies and options can use entities when performing a subsequent valuation of an asset, what are the main methods by which property, plant and equipment can be depreciated. What are the differences resulting from the use of two different depreciation plans for accounting and tax depreciation. The purpose of the article highlights an analysis of accounting policies adopted by economic’s entities, and to give a little background to the relevant discussions and other aspects in comparison with national and international accounting standards.

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