Business, Management and Accounting
4 years ago

High Costs and Lack of Guidance Hindering Adoption of Financial Reporting Standards in Romania.

THE APPLICATION OF INTERNATIONAL FINANCIAL REPORTING STANDARDS IN ROMANIA: ADVANTAGES AND MAIN PROBLEMS
Diana-Andreea, Trăistaru

Paper Summary

The article discusses how Romania is implementing International Financial Reporting Standards. It looks at the benefits and challenges of these standards, focusing on factors like costs, lack of guidance, and complexity. The adoption of these standards in Romania is influenced by the stock market, company size, and education level. The study suggests that the government should support the application of International Financial Reporting Standards.

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