Amendments to Accounting Regulations under Order 3055/2009

Amendments to Accounting Regulations under Order 3055 / 2009

Monitorul Oficial al Romaniei, Part I, No 727 / 26 November 2013 has published Order No 1898 / 22.11.2013 of the Minister of Public Finance, which amends and supplements the accounting regulations compliant with the European Directives that were approved under Order No 3055 / 2009 of the Minister of Public Finance.

The major provisions of this Order refer to:

  • Additional obligations of permanent establishments relating to the preparation of annual financial statements;
  • Specification on when income and expenditure should be recognised in the Profit and Loss Account;
  • Composition of the acquisition cost of short-term and long-term securities that have not been traded on a regulated market;
  • Further specification on tangible assets and the manner in which expenses related to tangible assets should be recorded;
  • Further specification on the recognition of the receivables taken over through assignment;
  • The manner in which profit tax and other taxes for which prepayments may be made should be recorded in account books;
  • Additional formalities for the registration of State subsidies in account books;
  • Accounting regulation of customer loyalty programmes in the case of entities obtaining revenues from the sale of products and goods, as well as from the provisions of services;
  • Introduction of a new account in the Chart of Accounts, i.e. account 809 – Receivables taken over through assignment.

The Order shall come into full force and effect on 1 January 2014.


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* ACCOUNTING ALERT contains a selection of the latest major issues occurred in the Romanian legislative framework, is intended only to provide information and, hence, shall not be deemed to provide professional advice or consultancy.  Therefore, we assume no responsibility in this respect.


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