The following information was submitted:
Transactions: INTERNATIONAL JOURNAL of EDUCATION AND INFORMATION TECHNOLOGIES
Transactions ID Number: 19-762
Full Name: Adrian Grosanu
Position: Lecturer
Age: ON
Sex: Male
Address: Teodor Mihali no. 58-60, Cluj-Napoca
Country: ROMANIA
Tel: 0040-745-775288
Tel prefix:
Fax:
E-mail address: adrian.grosanu@econ.ubbcluj.ro
Other E-mails: adrian.grosanu@napocasoftware.ro
Title of the Paper: the conciliation between the results of managerial accounting and the results of financial accounting
Authors as they appear in the Paper: Adrian Grosanu Paula Ramona Rachisan Sorin Romulus Berinde Carmen Giorgiana Bonaci
Email addresses of all the authors: adrian.grosanu@econ.ubbcluj.ro, ramona.rachisan@tbs.ubbcluj.ro, sorin.berinde@tbs.ubbcluj.ro, carmen.bonaci@econ.ubbcluj.ro
Number of paper pages: 8
Abstract: There are certain differences between the revenues and expenses/costs registered within managerial accounting and those registered within financial accounting, mainly referring to the fact (linked to) that within managerial accounting the result is formed exclusively on the market, therefore the revenues and expenses are being acknowledged at the moment of the sale, whereas within financial accounting there are certain resource consumptions which are being acknowledged as expenses sooner than the moment of sale of the products they refer to. Therefore, it will certainly be necessary the implementation of some accounts within the financial accounting due to collect the resource consumptions before their acknowledgement as expenses if they occur before the moment of sale. The managerial accounting system, as we have approached it within the present paper, allows acquiring information regarding the production cost of obtained products, and implicitly, of the sold prod!
ucts, hence within financial accounting one can dimension and register the value of acknowledged expenses along with the production achieved at the moment of sale. Nevertheless, even in terms of the existence of modern methods of expense acknowledgement, the value of the actual production cost of obtained products registered within financial accounting, is also being achieved within managerial accounting, but through postponing the acknowledgement of certain expenses one can achieve a result that is more near to the faithful image of the economic reality. Until the Romanian regulating authority in accounting field changes the moment of expense acknowledgement, managerial accounting responds to all informational necessities regarding products' costs and their profitability, but the differences between managerial accounting and financial accounting are rather significant. By organizing the economic entities into responsibility centers one offers a background for a more effici!
ent usage of the economic results and also for performance stimulation
.
Keywords: Conciliation Financial accounting Financial result Managerial accounting.
EXTENSION of the file: .rtf
Special (Invited) Session: Issues Regarding Costs, Expenses, Revenues, and the Moment of their Acknowledgment in Accountancy
Organizer of the Session: 648-248
How Did you learn about congress:
IP ADDRESS: 93.122.223.159
