Accounting Competencies and the Changing Role of Accountants in Emerging Economies: The Case of Romania

Accounting in Europe, 8 (2): 155–84

Posted: 19 Jan 2013

See all articles by Catalin Nicolae Albu

Catalin Nicolae Albu

Bucharest Academy of Economic Studies

Nadia Albu

Bucharest Academy of Economic Studies

Robert W. Faff

University of Queensland

Allan Hodgson

University of Queensland - Faculty of Business, Economics and Law; Financial Research Network (FIRN)

Date Written: December 18, 2011

Abstract

Over a recent short period, a number of interventions potentially helped move the Romanian accounting system away from being a tool simply used to support a planned economy. They include harmonization with the European Directives, the introduction of International Financial Reporting Standards (IFRS) and an increased move towards modern information technologies such as Enterprise Resource Planning (ERP) software. In this study, we directly explore these influences by applying job-offer analysis as a reflection of the current and future demand for accounting competencies. We first document current competencies expected from accountants in Romanian businesses and then assess the intervention impact on financial and management accountants. We hypothesize external influences would move Romanian accountants away from the traditional separate specialized positions towards more hybrid accounting positions, such as that adopted in the UK. Whilst our analysis supports a degree of transition with alignment to recent global trends, it also reveals some intransigence in the sense that management and financial accounting positions still tend to retain attributes associated with the two-cycle accounting system. Our findings have implications for harmonization issues and accounting education in Romania.

Suggested Citation

Albu, Catalin Nicolae and Albu, Nadia and Faff, Robert W. and Hodgson, Allan C., Accounting Competencies and the Changing Role of Accountants in Emerging Economies: The Case of Romania (December 18, 2011). Accounting in Europe, 8 (2): 155–84. Available at SSRN: https://ssrn.com/abstract=2202691

Catalin Nicolae Albu (Contact Author)

Bucharest Academy of Economic Studies ( email )

Piața Romană 6
Bucharest, 010374
Romania

Nadia Albu

Bucharest Academy of Economic Studies ( email )

Piata Romana No. 6
Sect. 1
Bucharest
Romania

Robert W. Faff

University of Queensland ( email )

St Lucia
Brisbane, Queensland 4072
Australia

Allan C. Hodgson

University of Queensland - Faculty of Business, Economics and Law ( email )

4072 Brisbane, Queensland
Australia

Financial Research Network (FIRN)

C/- University of Queensland Business School
St Lucia, 4071 Brisbane
Queensland
Australia

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