Academic Journals Database
Disseminating quality controlled scientific knowledge

SENSITIZING THE ROMANIAN ACCOUNTING ENVIRONMENT WITH THE GENERAL ACCOUNTING POLICIES REGARDING PROVISION EVALUATION AND WITH THE RECOGNITION CRITERIA OF ASSETS AND CONTINGENT LIABILITIES

ADD TO MY LIST
 
Author(s): L. CERNUŞCA

Journal: Lucrări Ştiinţifice : Management Agricol
ISSN 1453-1410

Volume: XI;
Issue: 3;
Start page: 79;
Date: 2009;
VIEW PDF   PDF DOWNLOAD PDF   Download PDF Original page

Keywords: evaluation | provision | assets | liabilities | contingent

ABSTRACT
The systematic pessimism of prudence led to the tendency of increasing the need for provisions, generally and in particular. Due to the harmonization of the accounting system at the International Accounting Standards Board, the professional accountants will have at their disposal the IAS 37 “Provisions, assets and contingent liabilities” which classifies the aspects regarding the term of ”provision”, its performance and appreciation. In part 2, the standard defines the term provision as “uncertain liabilities from the value or chargeability period point of view”. The International Accounting Standards Board contains references and recommendations on the need to constitute provisions, especially the ones needed for the pension funds.
Affiliate Program     

Tango Rapperswil
Tango Rapperswil