annals of the university of petroşani ∼ economics ∼ vol. xi - part i ...

124 Lesconi Frumuşanu, M.; Breuer, A.; Jurchescu, D.
completeness, as it represents the sum of procedures for financial and monetary
transactions that take place within an economic entity with respect to a project.
Project accounting is defined in the Internal Procedures Manual for
implementing POS DRU as an activity designed to monitor the management and
development of assets and liabilities, as well as the results obtained. The accounting
activity for European projects must be conducted according to the Community and
national provisions, so it will submit to the general principles of accounting and its
functions, out of which the most important is, in this context, providing documents and
information. Project accounting is found in literature under the name of projectoriented
accounting, being defined as the way of organizing and maintaining
accounting records of the project, which enables the project’s performer to aggregate
data in accordance with auditing requirements of the donor (Ivan, et al., 2003).
The problems which arise in connection with projects accounting are related to
its purpose or the choice between the two forms of accounting, financial accounting or
management accounting. In connection with the first aspect, that of project accounting
purpose, this represents, besides proper accounting, efficient management of funds, i.e.
compliance with contractual provisions under which the financing was obtained
financing (financing contract, applicant’s guide, beneficiary’s manual).
Regarding the second issue, framing it in one of the two forms of accounting,
we share the opinions of other authors, namely that it can be organized as follows:
- within the financial accounting of the entity developing the project together with
other activities, either by using general analytical accounts of the project, either
through dedicated project accounts which separate the incomes and expenditures
from other project activities (monism sheet);
- under the form of project managing accounting as required by the theory,
regulations and accounting practice for products which require cost calculation and
analyzing revenues and expenses per production unit, if the project implies such a
production capacity (Ivan, et al., 2003).
Source: Ivan I., Dobre E., Pocatilu P., Contabilitatea orientată proiect, pentru conformitate, 2003
Figure 1. The ratio of general accounting and accounting-oriented project