annals of the university of petroÅani â¼ economics â¼ vol. xi - part i ...
annals of the university of petroÅani â¼ economics â¼ vol. xi - part i ...
annals of the university of petroÅani â¼ economics â¼ vol. xi - part i ...
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124 Lesconi Frumuşanu, M.; Breuer, A.; Jurchescu, D.<br />
completeness, as it represents <strong>the</strong> sum <strong>of</strong> procedures for financial and monetary<br />
transactions that take place within an economic entity with respect to a project.<br />
Project accounting is defined in <strong>the</strong> Internal Procedures Manual for<br />
implementing POS DRU as an activity designed to monitor <strong>the</strong> management and<br />
development <strong>of</strong> assets and liabilities, as well as <strong>the</strong> results obtained. The accounting<br />
activity for European projects must be conducted according to <strong>the</strong> Community and<br />
national provisions, so it will submit to <strong>the</strong> general principles <strong>of</strong> accounting and its<br />
functions, out <strong>of</strong> which <strong>the</strong> most important is, in this context, providing documents and<br />
information. Project accounting is found in literature under <strong>the</strong> name <strong>of</strong> projectoriented<br />
accounting, being defined as <strong>the</strong> way <strong>of</strong> organizing and maintaining<br />
accounting records <strong>of</strong> <strong>the</strong> project, which enables <strong>the</strong> project’s performer to aggregate<br />
data in accordance with auditing requirements <strong>of</strong> <strong>the</strong> donor (Ivan, et al., 2003).<br />
The problems which arise in connection with projects accounting are related to<br />
its purpose or <strong>the</strong> choice between <strong>the</strong> two forms <strong>of</strong> accounting, financial accounting or<br />
management accounting. In connection with <strong>the</strong> first aspect, that <strong>of</strong> project accounting<br />
purpose, this represents, besides proper accounting, efficient management <strong>of</strong> funds, i.e.<br />
compliance with contractual provisions under which <strong>the</strong> financing was obtained<br />
financing (financing contract, applicant’s guide, beneficiary’s manual).<br />
Regarding <strong>the</strong> second issue, framing it in one <strong>of</strong> <strong>the</strong> two forms <strong>of</strong> accounting,<br />
we share <strong>the</strong> opinions <strong>of</strong> o<strong>the</strong>r authors, namely that it can be organized as follows:<br />
- within <strong>the</strong> financial accounting <strong>of</strong> <strong>the</strong> entity developing <strong>the</strong> project toge<strong>the</strong>r with<br />
o<strong>the</strong>r activities, ei<strong>the</strong>r by using general analytical accounts <strong>of</strong> <strong>the</strong> project, ei<strong>the</strong>r<br />
through dedicated project accounts which separate <strong>the</strong> incomes and expenditures<br />
from o<strong>the</strong>r project activities (monism sheet);<br />
- under <strong>the</strong> form <strong>of</strong> project managing accounting as required by <strong>the</strong> <strong>the</strong>ory,<br />
regulations and accounting practice for products which require cost calculation and<br />
analyzing revenues and expenses per production unit, if <strong>the</strong> project implies such a<br />
production capacity (Ivan, et al., 2003).<br />
Source: Ivan I., Dobre E., Pocatilu P., Contabilitatea orientată proiect, pentru conformitate, 2003<br />
Figure 1. The ratio <strong>of</strong> general accounting and accounting-oriented project