Academic journal article Contemporary Readings in Law and Social Justice

The Accounting Law and the Mixed Legal Institutions System in Terms of Promoting Development Mechanisms

Academic journal article Contemporary Readings in Law and Social Justice

The Accounting Law and the Mixed Legal Institutions System in Terms of Promoting Development Mechanisms

Article excerpt

ABSTRACT. The paper includes a series of correlations between the accounting law and the mixed legal institutions. It takes into consideration the relation between the accounting law and the labor law, currency law, competition law, unemployment insurance law, commercial law. As far as the accounting law takes into account the specialized specific needs, the business' informational system will be better connected to their development needs. The paper includes the following chapters: introduction, the relation between the accounting law, labor law and currency law under the expansion of international cooperation of companies, the relation between the accounting law, competition law and labor law to protect firms against unfair competition conditions of their employees, the relation between the accounting law, unemployment insurance law and labor laws in order to achieve flexible relations based on the economic situation, the relations between the accounting law, labor law and tax law to encourage new forms of employer - employee collaboration.

Keywords: accounting law, labor law, currency law, competition law, tax law

1. Introduction

The paper fits within the complex interdisciplinary field of study. First of all, the article contains interdisciplinarity between economics and law. Accounting issues are addressed from the perspective of the accounting law legal system that gives legal form to accounting information circuits. Secondly, there is interdisciplinarity between the areas of study: labor law, currency law, competition law, unemployment insurance law, tax law and accounting law.

The accounting law was first defined in the doctrine of French accounting and was later adopted by the continental accounting system. The first work which initiated the study of accounting law in Romania took place in 1998. The paper is a novelty because the accounting law in Romania has not reached the phase to be addressed in an interdisciplinary manner in this short period of time, in relation to other branches of law. The existence in the international literature of similar approaches may be relevant because the laws are national par excellence, even with the community harmonization in the European Union.

2. The relation between the accounting law, labor law and currency law under the expansion of international cooperation of companies

The development requires an expansion of international cooperation between firms in different forms. Globalization is the keyword of the current stage of evolution of international economic interdependence. The institution of delegation abroad will be more frequent in the contractual relationship of economic agents with the expansion of the globalization process. For the personnel sent abroad there may occur items related with: currency of payment, payment method, other specific services. The Labor Code establishes that they are separately stated from the beginning of the employment contract. The possible currency risk will become part of the wage costs for the entity which sent staff abroad. The accounting law norm will have ancillary character to these joint institutions.

In principle, the displacement in member countries of the OECD involves calculating the income from employment (wages and related expenses) or the daily fees in the currency of the country in which to travel. The payment is also in the same currency. The element subject to negotiation is the level of such payments. In this the question of an interference with the tax law arises. The employment relations necessarily take into account the relationship between services rendered by the employee (the degree to which it is useful to the employer) and the total cost that these services require. More specifically in terms of business, the alteration of the net profit is more important in the contract of employment benefit. The accounting information system must provide the information needed to calculate the net profit implication that different parts of the wage or salary package has. …

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