FUNDAMENTALS AND PRACTICES
         FOR THE INITIAL RECOGNITION OF THE FIXED ASSETS

             Lecturer Ph.D. Marinela-Daniela Manea, marinelamanea7@yahoo.com
             Associate Professor Ph.D. Veronica Stefan, veronica.stefan@ats.com.ro
                                Valahia University of Târgoviste


    Abstract: Assets recognition is a new concept, assimilated in the process of harmonisation of
the Romanian accounting regulations with the European Directives and the International Standards
of Financial Reporting. The international normalizing document does not indicate a measurement
unit for the recognition of a fixed asset element, the application of the professional reason for
circumstances which are specific to an enterprise assuring the reliability of the criteria accepted by
the management. The paper herein proposes the research of the elements specific for the individual
and group recognition applicable to the physical fixed assets, in consideration of the international
standards, without omitting to take into account the particularities of the Romanian regulations in
this domain, with the purpose of creating a synoptic imagine on the group of perspectives,
procedures and data specific both to the accounting standards and to the Romanian practice. It can
be considered that the identification and the recognition of the parts and of the individual assets of
an enterprise represents a process characterised by a high degree of objectivity, paralleled with the
situation of the cash generating units, more complex and subjective when applied.

       Key words: recognition of the fixed assets, IFRS.

       Jel codes: M41, F00.




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