The Journal of Accounting and Management, Vol 4, No 2 (2014)

Abstract

The evolutions of the financial reporting for Europeans listed companies lead these companies to adoptInternational Financial Reporting Standards (IFRS) for their consolidated financial statement since 2005. There are threebanks listed at the Bucharest Stock Exchange (BVB), all of them at the first tier of the BVB. Starting with 2012, these banksare required to apply IFRS also in their individual financial statements. This event allows us to try to measure the distancebetween Romanian accounting standards (RAS) and the IFRS, by comparing the accounting figures for the year 2011reported in the 2011 financial statement (RAS) and in the 2012 (as comparative year). Our findings suggest that the impact ofIFRS results in an improvement of on some key accounting numbers (equities, net income, leverage).