Abstract:

The COVID-19 pandemic represents the greatest crisis of all as it not involves the lack of the financial resources, but the lack of the ability to protect the health of the human resource. Uncertainty has reached its highest level of all crises as the the COVID-19 pandemic has striken all economic sectors one by one, from health system to education, transport and traveling. As people have been put in front of an invisible threat, it rapidly infected all countries of the world putting a lot of pressure on a already fragile and weaken medical system as it is the one from Romania.Such events have affected many companies and in order to keep the situation under control and going concern, these events must be recorded accordingly as the accounting principles and law framework come to support professionals in bookkeeping.

By this research we intend to prsent current economy status and the measures taken to fight the pandemic effects on economy and  risks present by this situation in bookeeping practices so that there will be a clear and honest view on companies financial situation at the end of the financial exercise.