IMPACT OF ACCOUNTING LEGISLATION CHANGES ON THE QUALITY OF FINANCIAL REPORTING

Sergiu SOIMU, Galina BĂDICU Academia de Studii Economice a Moldovei

Аннотация

The accounting reform in the Republic of Moldova is influenced by the profound changes that are taking place in the economic sphere, under the inertia of the globalisation process. In this article, we aim to examine the content and implementation of the main changes to the National Accounting Standards, which entered into force on 1 January, 2020. The purpose of these changes is to adjust the provisions of existing standards in line with the provisions of Directive 2013/34/EU of the European Parliament and of the Council of 26.06.2013 on the annual financial statements, consolidated financial statements and related reports of certain types of enterprises. Certainly, the insertion of changes in accounting standards has been conditioned by certain factors of influence revealed by the authors in this article. The description of the material was possible due to the use of methods of analysis and synthesis of relevant specialised papers, research studies, provisions of the Accounting and Financial Reporting Law, orders of the Ministry of Finance on current amendments, and the application of comparison, induction and deduction. Keywords: changes in the accounting legislation of the Republic of Moldova, Accounting and Financial Reporting Law, financial reporting, individual financial statements, accurate image, categories of entities.