Practical Guide for the application of IFRS rules

Practical Guide for the application of IFRS rules

View this page in: Romanian
3 July 2013

Finance Ministry Order no. 814 / 2013 dated 28 June 2013 approved the Guide on the fiscal treatment of some operations carried out by taxpayers who apply International Financial Reporting Standards (IFRS) accounting regulations, applicable to credit institutions (“the Guide”).

The Guide contains examples based on IFRS accounting regulations. These examples are designed to assist understanding of the fiscal rules applicable to credit institutions at the moment of transition to IFRS rules.

The examples presented in the Guide address topics such as the restatement of goodwill, specific credit risk provisions, financial assets available for sale, hedges, restatement of depreciable fixed assets as a result of the transition from the revaluation model to the cost model, immovable assets for sale, immovable property investments and restatement of start-up expenses.

[Source: Official Gazette of Romania no. 385 / 28 June 2013]

For more information, please contact Peter de Ruiter, Mihaela Mitroi, Ionut Simion and Daniel Anghel.

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