ACCOUNTING – SOCIAL SCIENCE

Accounting as a mathematics-derived science appeared in Venice during the Renaissance, and permanently evolved and adapted to the economic development of society and addressed the increased information needs in the context of emerging economic entities and investors. The development of entities and increased economic complexity also increased the number of people interested in the information resulting from the informational subsystem of accounting. Today, when globalization has visible effects, and company holdings are active in multiple countries, and technical progress is on the rise, the information flows employed by accounting increased at the same pace with such entities. Selecting from the complexity of information travelling in the world economy requires an accounting normalization process, and the unitary understanding of the complexity of information flows generated by accounting required a harmonization of the summary documents, accounting methods and terminology. Romania, as part of the world system of information flows, subscribed to accounting normalization and accepted two accounting organization models. On one hand, the application of the accounting referential to a defined group of entities as established by international rules (IFRS – under Order no. 881/2012 of the Ministry of Public Finance) and the other entities applying the national rules established under Order no. 1802/2014 of the Minister of Public Finance, in force as of 01 January 2015. Considering the extent of the implementation of established principles, assessment bases and accounting-specific practices, and the large number of people interested in the information flows generated by accounting, and the influence exerted on large population groups, one can safely state that this is a social science.