THE INNOVATIVE EXPERIENCE OF THE REPUBLIC OF MOLDOVA IN REFORMING THE ACCOUNTING SYSTEM AND ITS HARMONIZATION WITH IFRS AND EUROPEAN DIRECTIVES.

Reforming the accounting system in the Republic of Moldova and its harmonization with IFRS and European directives takes almost three decades and is a complex technical route which involves important financial and human resources. The given paper aims to present and interpret the innovative way in which the accounting system reform was achieved, how international accounting standards and European directives have been transported into national legislation in order to identify the main waves of the accounting reform and the regulatory changes made by the regulator, of the benefits and costs, advantages and disadvantages arising from the implementation of the reformed regulatory framework. In order to achieve and develop all the methodological aspects needed to understand this scientific approach, we have proposed to formulate a series of research questions: What was the objective of the accounting reform and to what extent the degree of harmonization of accounting with the provisions of IFRS and the acquis was achieved? What were the main waves of the reform of the accounting system and what changes were made by the regulator to achieve this goal? What were the benefits and costs of such an approach? Why should we explore the experience of the Republic of Moldova? In this research, the authors developed and tested research hypotheses: H1. The objective of reforming the accounting system of the Republic of Moldova in order to harmonize it with the provisions of the IFRS and the acquis communautaire has been achieved; H2. The accounting reform was carried out in three waves and was directly influenced by the change in the regulatory framework; H3. The accounting reform had both benefits and costs. The methodological and theoretical-scientific support of the researches undertaken was the fundamental works in the field, as well as various publications from periodical literature in the country and abroad. Much of the research work has been directed towards documentary, based on national, European and international literature, the sources of documentation being among the most diverse, from legislation in the field, articles published in various journals, reports, guides, textbooks, monographs, to information published on the Internet. The documentation and data collection has been complemented by practical observations, archive data, which have provided control over the information analyzed and used in our research. The responses are obtained by applying, as a method of research, the phenomenological interpretive analysis, the documentary and analytical research, the comparative opinion and analysis, thus being categorized as qualitative empirical research. The results and conclusions of this research are closely related to the potential future contribution to advancing the stage of knowledge of the field under consideration. [ABSTRACT FROM AUTHOR]