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OFFICIAL GAZETTE 882/28.12 - Order no. 2869/2010 issued on 23/12/2010 amending and supplementing certain accounting regulations

The changes of the Order 3055/2009 approving the Accounting Regulations Harmonized with EU Directives:

The amendments and supplements of the Methodological Norms for Preparing and using financial and accounting documents, approved by the Minister of Economy and Finance Order no. 3512/2008

Changes have been made on economic and financial records of the entities with turnover under 35,000 Euros.

Thus, by exception to the general provisions, the entities that during the previous financial year have registered a turnover of less than the equivalent in lei of 35,000 Euros, can record the economic and financial accounting operations on other dates, but not later than the date for which statements on the income tax are prepared, or  the date of the annual financial statements or the date of the accounting reports according to the law. As the calculation and declaration of income/wage tax should be made quarterly, it means that these entities are required to perform the accounting records at least quarterly.

In this case, the records may be done on documentary evidence or a summary containing several documents referring to the operations of the same nature occurring at the same time, situation in which the documents are attached to it.

Similarly, the registration in the accounting journal and ledger are performed for the same period.
In order to determine the limit of the 35,000 euro, the exchange rate used is that communicated by the National Bank of Romania, valid at the closing date of the previous financial year.
These provisions come into force from January 1, 2011.

Moreover, starting from January 1st 2011, entities that – in the previous financial year registered a turnover of less than the equivalent in lei of EUR 35,000, do not submit accounting reports to the local units of the Ministry of Finance during the financial year.

In order to determine the limit of the 35,000 euro, the exchange rate used is the one communicated by the National Bank of Romania, valid at the closing date of the previous financial year.

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