European Union Integration of Romania and Process of Accounting Normalization

Abstract

Lately the problem of national accounting disparity became stringent while the unificationpressure became more powerful. Transnational corporations are being lasted for long time. Businessglobalization leaded to number companies hereinabove proliferation as well as countries wherein they areoperating. Along with business globalization another criteria pointing out the requirement of accountingharmonization is being characterized by capital market globalization. Considering the fact that types ofactivities became transnational, territorially as a matter of fact, exigency and requirement of differentcountries capital infusion occurs. Nowadays competition between capital markets might be one of thestrongest factors of internationally accounting harmonization encouragement.

Keywords

• European Union
• Romania integration
• globalization
• harmonization
• accounting