PRESENT AND FUTURE PERSPECTIVES OF ROMANIAN ACCOUNTING VALUATION. THE COMBINATION BETWEEN HISTORICAL COST AND FAIR VALUE REALITY OR FICTION?

In the last period, historical cost - regarded as valuation basis funding traditional accounting systems in the past - has no longer succeeded in offering an universal background to the forms currently accepted within accounting evaluation. Emerging as a necessity and alternative to historical cost, fair value generates, through its application, profound valuatibn changes. The current work aims to analyze the possibility of implementing the valuation combination - composed of historical cost and fair value - in the Romanian accounting practice.