RECOGNITION OF IMPAIRMENT LOSSES OF INTANGIBLE ASSETS IN ROMANIA VERSUS IFRS

Abstract

Developments in accounting, which harmonize with the European Directives and International Financial Reporting Standards, are correlated with progress in the field from Europe and worldwide, leading to a change of view in the accounts. International Accounting Standard IAS 36 "Impairment of Assets" recommended that the recoverable amount of an asset is assessed every time an indication of impairment appears, while in Romania the accounting rules require that the evaluation of intangible assets is to be achieved at the end of the year when according to the legislation, the inventory takes place. Although current legislation took nearly all the recommendations of the International Accounting Standards, in practice there are difficulties regarding the recognition of impairment losses.

Keywords

• fair value, assessment, reassessment, recognition, balance sheets

Kaynakça

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