Legislative news in the field of public accounting

Subjects

Legislative news in the financial and accounting field

· News on the Fiscal Code in 2017

· Order 191/2017 - amendment and addition to the Methodological Norms regarding the preparation and submission of the monthly and quarterly financial statements

· Amendments and additions to OMFP 640/2017 on the preparation and submission of financial statements in 2017

· Law 78/2017 on the approval of GEO 29/2017 on the distribution of profits to national companies and commercial companies with full or majority state capital, as well as autonomous regies

· Amendment and addition to Methodological Norms regarding the organization and management of the accounting departments of public institutions

· The Plan of Accounts for Public Institutions and its implementation guidelines - Order 529/2016

Implementation and status of the Forexebug reporting system

· OMFP 1026/2017 regarding the modification and completion of OMFP 517/2016 for the approval of procedures related to some modules that are part of the functioning of the national reporting system - FOREXEBUG

· OMFP 984/2017 establishing the timetable for the functionalities in the reporting area of the financial statements of the National Reporting System FOREXEBUG

Accounting and reporting in public institutions and authorities

· Issues related to the organization and management of accounting in public institutions. (OMFP 1917/2005, as amended and supplemented)

· Particularities regarding the closure of the financing, available funds and the establishment of the patrimonial result for the public institutions financed from the state budget, local, insurance, public institutions financed entirely or partially from own revenues, as well as for activities financed from own revenues

European Public Sector Accounting Standards (EPSAS). International Public Standards of Accounting for Public System (IPSAS) - the state of implementation

Hiring, liquidation, authorization and payment of public institutions expenses according to the provisions of Law 273/2006 and OMFP 1792/2002, as subsequently amended and supplemented

· Commitment credits and budget credits. Economic Classification of Expenditure in Accordance with SEC

· Changes envisaged in the accounting and reporting of budgetary and legal commitments under OUG 88 / 2013. Law 500/2002 on public finances, as subsequently amended and supplemented

Inventory of assets, liabilities and equity (OMFP 2861/2009), amended and supplemented until 2017

Revaluation and amortization of tangible fixed assets in public institutions - Particularities provided by OMFP 221/2015

· Legal avoidance of penalties related to the revaluation of tangible fixed assets; mistakes in practice regarding the recognition of the institution's expenditure

Adoption of fiscal-budgetary measures for the fulfillment of agreed commitments with the international bodies, as well as for the modification and completion of some normative acts, as amended and supplemented by normative acts. National reporting system - the benefits and benefits to public institutions

Accounting for post-accession non-reimbursable external funds

Aspecte privind înregistrarea în contabilitate a unor operaţiuni privind venituri şi cheltuieli bugetare,stabilirea rezultatului execuţiei şi a rezultatului patrimonial, împrumuturi, dobânzi, active fixe, etc.

Modificări aduse de legea finanţelor publice pentru anul 2017