The National Agency for Fiscal Administration (NAFA) has drawn up new guidelines for the preparation and use of the main financial and accounting documents and the obligations in relation to annual reports in accordance with the Accounting Law.
The guidelines are posted on the website of the institution and are aimed at natural persons, associations without legal personality and legal persons from Romania which are required to use single-entry accounting or double entry accounting, where appropriate.
The guidelines present the categories of persons that apply the single-entry accounting regulations, and the persons that use double-entry accounting as well as the general rules, the mandatory records and supporting documents and their retaining and archiving procedures.
The guidelines also include the responsibilities of economic operators in relation to the preparation of annual reports in accordance with the Accounting Law no. 82/1991, republished as subsequently amended and supplemented, as well as detailed aspects regarding error correction, the submission of the annual financial statements and of the annual accounting reports.
The contraventions and sanctions prescribed by the Accounting Law are also detailed, as well as the ways in which stakeholders can obtain additional information from the relevant institutions.
The guidelines for the preparation and use of the main financial and accounting documents and obligations in relation to annual reports in accordance with the Accounting Law can be accessed on the NAFA website.