Abstract
Abstract This study aims to investigate the opinions of certified accountants in Romania on the implementation of the IAS/IFRS (International Accounting Standards/International Financial Reporting Standards) in an emergent country that has a short to medium experience in adopting and implementing the standards.
Highlights
According to Littleton (1933) “accounting is relative and progressive
Accounting is often correlated with the attribute of development that comes from creativity
Romania's implementation of IAS/International Financial Reporting Standards (IFRS) has been challenging, and it has only been completed in part
Summary
According to Littleton (1933) “accounting is relative and progressive. The phenomena that shape its core are constantly changing. Older methods are becoming less effective in the face of change; previous ideas become irrelevant in the face of new problems. The surrounding conditions generate fresh ideas and stimulate the ingenious to design new methods. When such ideas and methods prove to be successful, only does the change around them begin to take shape – The result we call progress”. The following is a description of progress: "An advance towards something better or towards a greater development" (Chambers English Dictionary, 1996). The two most critical aspects of development are illustrated in this definition. First and foremost, it is a complex concept: development necessitates some degree of transition. Progress can be described as a more or less continuous process of change, as well as progress toward a particular goal or end (Napier, 2001)
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