The Romanian Accounting Standards - Romanian Gaap

This manual is intended as a guide for all those professionals already working in accounting/finance & business analysis and related matters, not focusing on main fundamental notions but only in specific concepts of Romanian accounting standards (henceforth RO GAAPs).

This manual is not meant to be considered as a complete presentation of the Romanian accounting standards or a comprehensive identification of all the differences and specific features that might arise during any kind of field work, but as an analysis and explanation of the main characteristics that can be met and which commonly appear in the first approaches with the Romanian country system. This manual is intended as a guide for all those professionals already working in accounting/finance & business analysis and related matters, not focusing on main fundamental notions but only in specific concepts of Romanian accounting standards (henceforth RO GAAPs). This handbook aims to carry out an analysis of the features which emerge from RO GAAP accounting, carrying out any digressions and links with the Romanian tax rules and where appropriate, the Italian reporting standards (henceforth ITA GAAP) International reporting standards (IFRS ) and English reporting standards (henceforth UK GAAP).

Camillo Giovannini, chartered accountant and auditor, member of the “Association of Chartered Certified Accountants” (A.C.C.A.) of the United Kingdom, and of the Romanian bodies (C.E.C.C.A.R. and C.A.F.R.), arrives in Romania as a Tax Advisor (mainly in the field of direct and indirect tax) and then he gradually shifts his attention towards the auditing field. He participated over the years to various specialised courses in large top 10 specialised companies and in a secondment intercompany which brought him for different periods in the United Kingdom. He currently occupies the position of Partner and responsible for Crowe Horwath Romania (Boscolo&Partners) Audit Department, giving assistance to medium and large clients and working with a mixed types of industry domains (mainly in the area of production and manufacturing) and with national and international accounting standards, such as IFRS, ITA GAAP, UK GAAP, RO GAAP and US GAAP.