Abstract:
The aim of this paper is to identify how accounting information is used for a sustainable economic development in the context of a more and more globalised market. The need for robust accounting information in Romania has increased in the last years and will continue to increase on the background of globalization which represents the main characteristic of our times. Romanian agricultural accounting is confronting with the lack of specific financial reporting models which can be unitary applied by farming entities in order to insure comparability and transparency. Improving accounting information within farming entities can provide necessary support for professional accountants in developing projects and studies which form the basis of grants application and financial support schemes for agriculture. In Romanian farming entities the need for capital is very important. A more robust, transparent and user friendly accounting information represents the path to a better allocation of resources within an farming entity thereby preventing inefficient resource allocation, increasing the risk and cost bearded by farmers and investors. Accounting has the important role of reviving the economy, trough supporting global markets and attracting and retaining capital within companies.
