Sunteți pe pagina 1din 17

67$1'$5'8/1$,21$/'(&217$%,/,7$7(

35(=(17$5($6,78$,,/25),1$1&,$5(
Introducere
 Prezentul standard este elaborat n baza Directivelor UE, Cadrului general conceptual pentru
UDSRUWDUHD ILQDQFLDU ,$6  3UH]HQWDUHD VLWXDLLORU ILQDQFLDUH L ,$6  6LWXDLD IOX[XULORU GH
trezorerie.
Obiectiv
 2ELHFWLYXO SUH]HQWXOXL VWDQGDUG FRQVW vQ VWDELOLUHD IRUPXODUHORU L D PRGXOXL GH vQWRFPLUH D
VLWXDLLORUILQDQFLDUHFXVFRSJHQHUDO vQFRQWLQXDUH VLWXDLLILQDQFLDUH 
Domeniu de aplicare
 3UH]HQWXO VWDQGDUG UHJOHPHQWHD] PRGXO GH vQWRFPLUH L SUH]HQWDUH D VLWXDLLORU ILQDQFLDUH
FRPSOHWHLVLPSOLILFDWHDOHHQWLWLORUFDUHDSOLF6WDQGDUGHOH1DLRQDOHGH&RQWDELOLWDWH
 3UH]HQWXOVWDQGDUGQXUHJOHPHQWHD]PRGXOGHvQWRFPLUHDVLWXDLLORUILQDQFLDUHDOH
 HQWLWLORU GH LQWHUHV SXEOLF L DOWRU HQWLWL FDUH DSOLF ,)56 ,$6  3UH]HQWDUHD VLWXDLLORU
ILQDQFLDUH 
 RUJDQL]DLLORU QHFRPHUFLDOH ,QGLFDLL PHWRGLFH SULYLQG SDUWLFXODULWLOH FRQWDELOLWLL vn
RUJDQL]DLLOHQHFRPHUFLDOH 
 LQVWLWXLLORUSXEOLFH 1RUPHVWDELOLWHGH0LQLVWHUXO)LQDQHORU 
'HILQLLL
 QSUH]HQWXOVWDQGDUGQRLXQLOHXWLOL]DWHVHPQLILF
Fluxuri de numerar LQWUULLVDXLHLULGHPLMORDFHLGRFXPHQWHEQHWL
0RGLILFULGHFDSLWDOSURSULX PDMRUULLGLPLQXULDOHHOHPHQWHORUGHFDSLWDOSURSULX
6LWXDLLILQDQFLDUH VHWGHUDSRDUWHFDUHFRQLQLQIRUPDLLSULYLQGSR]LLDILQDQFLDUSHUIRUPDQD
ILQDQFLDUPRGLILFULOHFDSLWDOXOXLSURSULXLIOX[XULOHGHQXPHUDUale HQWLWLi SHRSHULRDGGHJHVWLXQH
3HUIRUPDQ ILQDQFLDU UHODLD GLQWUH YHQLWXULOH L FKHOWXLHOLOH HQWLWLi SUH]HQWDWH vQ VLWXDLD GH
SURILWLSLHUGHUH
3R]LLH ILQDQFLDU UHODLD GLQWUH DFWLYHOH FDSLWDOXO SURSULX L GDWRULLOH HQWLWLi prezentate n
ELODQ
9DORDUHFRQWDELO valoarea la care un DFWLYHVWHUHFXQRVFXWvQELODQGXSGHGXFHUHDDPRUWL]ULL
LSLHUGHULORUGLQGHSUHFLHUHFXPXODWH
6FRSXOLFRPSRQHQDVLWXDLLORUILQDQFLDUH
 6LWXDLLOHILQDQFLDUHDXGUHSWVFRSSUH]HQWDUHDLQIRUPDLLORUXWLOHvQOXDUHDGHFL]LLORUHFRQRPLFH
SHQWUX R JDP ODUJ GH XWLOL]DWRUL FXP DU IL SURSULHWDULL DFLRQDULL DVRFLDLL  FUHGLWRULL FOLHQLL
VDODULDLL DXWRULWLOH SXEOLFH L SXEOLFXO 3HQWUX UHDOL]DUHD DFHVWXL VFRS VLWXDLLOH ILQDQFLDUH RIHU
LQIRUPDLLGHVSUH
 DFWLYH
 FDSLWDOSURSULX
 GDWRULL
 veniWXULLFKHOWXLHOL
 IOX[XULGHQXPHUDU
 Q IXQFLH GH FULWHULLOH VWDELOLWH vQ /HJHD FRQWDELOLWLL L QHFHVLWLOH LQIRUPDLRQDOH DOH
XWLOL]DWRULORUHQWLWDWHDSRDWHvQWRFPL
 VLWXDLLILQDQFLDUHFRPSOHWHVDX
 VLWXDLLILQDQFLDUHVLPSOLILFDWH
 6LWXDLLOHILQDQFLDUHFRPSOHWHFXSULQG
 ELODQXO
 VLWXDLDGHSURILWLSLHUGHUH
 VLWXDLDPRGLILFULORUFDSLWDOXOXLSURSULX
 VLWXDLDIOX[XULORUGHQXPHUDU
 QRWHOHODVLWXDLLOHILQDQFLDUH






6LWXDLLOHILQDQFLDUHVLPSOLILFDWHFXSULQG
ELODQXO
VLWXDLDGHSURILWLSLHUGHUH
QRWDH[SOLFDWLY

3ULQFLSLLGHED]LFDUDFWHULVWLFLFDOLWDWLYH
 6LWXDLLOHILQDQFLDUHVHvQWRFPHVFvQFRQIRUPLWDWHFXXUPWRDUHOHSULQFLSLLGHED]
 FRQWLQXLWDWHD DFWLYLWLL SUHYHGH vQWRFPLUHD VLWXDLLORU ILQDQFLDUH SRUQLQG GH OD LSRWH]D F
eQWLWDWHDvLYDFRQWLQXDvQPRGQRUPDOIXQFLRQDUHDFHOSXLQSHRSHULRDGGHOXQLGLQGDWDUDSRUWULL
IULQWHQLDVDXQHFHVLWDWHD de aLOLFKLGDVDXUHGXFHvQPRGVHPQLILFDWLYDFWLYLWDWHDQFD]XOvQFDUH
VLWXDLLOHILQDQFLDUHQXVHvQWRFPHVFFRQIRUPSULQFLSLXOXLFRQWLQXLWLLDFWLYLWLLWUHEXLHSUH]HQWDWED]D
GHvQWRFPLUHDVLWXDLLORUILQDQFLDUHLPRWLYXOSHQWUXFDUHHQWLWDWHDQXSRDWHVLFRQWLQXHDFWLYLWDWHD
 contabilitatea de angajamente LPSXQH UHFXQRDWHUHD HOHPHQWHORU VLWXDLLORU ILQDQFLDUH FX
H[FHSLD HOHPHQWHORU VLWXDLHL IOX[XULORU GH QXPHUDU SH PVXUD DSDULLHL DFHVWRUD LQGLIHUHQW GH
PRPHQWXOvQFDVULLSOLLGHQXPHUDUVDXFRPSHQVULLvQDOWIRUP
 VHSDUDUHD SDWULPRQLXOXL L GDWRULLORU SUHYHGH SUH]HQWDUHD vQ VLWXDLLOH ILQanciare doar a
LQIRUPDLLORUGHVSUHSDWULPRQLXOLGDWRULLOHHQWLWLLFDUHWUHEXLHFRQWDELOL]DWHVHSDUDWGHSDWULPRQLXOL
GDWRULLOHSURSULHWDULORULDOHDOWRUHQWLWL
 necompensarea FRQVWvQSUH]HQWDUHDGLVWLQFWvQVLWXDLLOHILQDQFLDUHDDFWLYHORULGDWRULLORU
YHQLWXULORU L FKHOWXLHOLORU &RPSHQVDUHD UHFLSURF D DFWLYHORU L GDWRULLORU VDX D YHQLWXULORU L
FKHOWXLHOLORU QX VH DGPLWH FX H[FHSLD FD]XULORU vQ FDUH FRPSHQVDUHD HVWH SHUPLV GH 6WDQGDUGHOH
1DLRQDOHGH&RQWDELOLWDWH
 FRQVHFYHQD SUH]HQWULL SUHYHGH PHQLQHUHD PRGXOXL GH SUH]HQWDUH L GH FODVLILFDUH D
HOHPHQWHORUvQVLWXDLLOHILQDQFLDUHGHODRSHULRDGGHJHVWLXQHODDOWFXH[FHSLDFD]XULORU FvQG
D vQ XUPDXQHL PRGLILFULVHPQLILFDWLYHvQ QDWXUDDFWLYLWLL HQWLWLLVDXvQ urma unei analize a
LQGLFDWRULORU VLWXDLLORU ILQDQFLDUH HVWH PDL UHOHYDQW R DOW SUH]HQWDUH VDX FODVLILFDUH D HOHPHQWHORU
VLWXDLLORUILQDQFLDUHLQvQGFRQWGHPHWRGHOHLSURFHGHHOHSROLWLFLlor contabile HODERUDWHFRQIRUP61&
3ROLWLFLFRQWDELOHPRGLILFULDOHHVWLPULORUFRQWDELOHHURULLHYHQLPHQWHXOWHULRDUH
E vQ 6WDQGDUGHOH1DLRQDOHGH&RQWDELOLWDWHDIRVWPRGLILFDW PRGXOGHSUH]HQWDUHDHOHPHQWHORU
VLWXDLLORUILQDQFLDUH
 ,QIRUPDLLOH GLQ VLWXDLLOH ILQDQFLDUH WUHEXLH V FRUHVSXQG XUPWRDUHORU FDUDFWHULVWLFL
FDOLWDWLYH
 inteligibilitatea LQIRUPDLLOH WUHEXLH FODVLILFDWH FDUDFWHUL]DWH L SUH]HQWDWH vQ PRG FODU L
FRQFLV
 UHOHYDQD LQIRUPDLLOH WUHEXLH V ILH LPSRUWDQWH SHQWUX XWLOL]DWRUL L VL DMXWH SH DFHWLD V
evalueze evenimentele WUHFXWH SUH]HQWH VDX YLLWRDUH V FRQILUPH VDX V FRUHFWH]H HYDOXULOH ORU
DQWHULRDUH
 credibilitatea LQIRUPDLLOHWUHEXLHVILHFRPSOHWHQHXWUHLIUHURULVHPQLILFDWLYH
 comparabilitatea VLWXDLLOH ILQDQFLDUH WUHEXLH V FRQLQ LQIRUPDLL FRPSarative aferente
SHULRDGHLSUHFHGHQWHSHQWUXWRDWHHOHPHQWHOHUDSRUWDWHDOHSHULRDGHLGHJHVWLXQHFXUHQWHGDF61& nu
SHUPLWDOWIHO
 3HQWUX FD LQIRUPDLLOH GLQ VLWXDLLOH ILQDQFLDUH V FRUHVSXQG FDUDFWHULVWLFLORU FDOLWDWLYH
SUHY]XWHvQSFWHVWHQHFHVDUFD
 VVHVWDELOHDVFXQHFKLOLEUXvQWUHFDUDFWHULVWLFLOHFDOLWDWLYHDOHLQIRUPDLLORUILQDQFLDUH
 LQIRUPDLLOHVILHRSRUWXQHSHQWUXOXDUHDGHFL]LLORUGHFWUHXWLOL]DWRUL
 EHQHILFLLOHSURYHQLWHGLQXWLOL]DUHDLQIRUPDLLORUVGHSHDVFFRVWXORELQerii DFHVWRUD
FormXODUHOHLFRQLQXWXOVLWXDLLORUILQDQFLDUH
Reguli generale
 6LWXDLLOHILQDQFLDUHVHvQWRFPHVFFRQIRUPIRUPXODUHORUGLQDQH[HOHODSUH]HQWXOVWDQGDUG
 6LWXDLLOHILQDQFLDUHVHvQWRFPHVFLVHSUH]LQWDQXDOQFD]XOPRGLILFULLGDWHLGHUDSRUWDUHL
SUH]HQWULL VLWXDLLORU ILQDQFLDUH SH R SHULRDG PDL OXQJ VDX PDL VFXUW GH XQ DQ HQWLWDWHD WUHEXLH VH
GH]YOXLH

 SHULRDGDDFRSHULWGHVLWXDLLOHILQDQFLDUH
 PRWLYXOVWDELOLULLXQHLSHULRDGHGHJHVWLXQHPDLOXQJLVDXPDLVFXUWHGHXQDQL
 IDSWXOFLQIRUPDLLOHGLQVLWXDLLOHILQDQFLDUHQXVvQWSHGHSOLQFRPSDUDELOH GHH[HPSOXSHQWUX
HQWLWLOHQRXvQUHJLVWUDWHSULPDSHULRDGGHJHVWLXQHVHFRQVLGHUSHULRDGDGLQGDWDvQUHJLVWUULLGHVWDWD
HQWLWLLSvQODGHFHPEULHDODFHOXLDLDQFDOHQGDULVWLFQFD]XOvQFDUHvQUHJLVWUDUHDGHVWDWDHQWLWLL
DUHORFGXSRFWRPEULHSULPDSHULRDGGHJHVWLXQHVHFRQVLGHUSHULRDGDGLQGDWDvQUHJLVWUULLGHVWDW
SvQODGHFHPEULHDOXUPWRUXOXLDQFDOHQGDULVWLF 
 6LWXDLLOH ILQDQFLDUH LQFOXG LQGLFDWRULL DFWLYLWLL WXWXURU ILOLDOHORU UHSUH]HQWDQHORU L
VXEGLYL]LXQLORUHQWLWLLDPSODVDWHSHWHULWRULXO5HSXEOLFLL0ROGRYD
 6LWXDLLOHILQDQFLDUHVHvQWRFPHVFvQED]DLQIRUPDLLORUFRQWDELOHGXSUHIOHFWDUHDUH]XOWDWHORU
inventaULHULLSHntru confirmarea H[LVWHQHLLVWULLDFWLYHORULSDVLYHORU
 6LWXDLLOH ILQDQFLDUH WUHEXLH LGHQWLILFDWH L VHSDUDWH GH DOWH LQIRUPDLL SUH]HQWDWH vQ DFHODi
GRFXPHQWGHH[HPSOXvQUDSRUWXODQXDODOHQWLWLLVDXvQSURVSHFWXOGHHPLVLXQLDYDORULORUPRELOLDUH
 (QWLWDWHDWUHEXLHVLGHQWLILFHvQPRGFODUVLWXDLile financiare LVHYLGHQLH]HvQPRGVSHFLDO
XUPWRDUHOHLQIRUPDLL
 GHQXPLUHDHQWLWLLLDOWHHOHPHQWHGHLGHQWLILFDUH
 GDWDUDSRUWULLVDXSHULRDGDDFRSHULWGHVLWXDLLOHILQDQFLDUH
 actiYLWDWHDGHED]
 IRUPDGHSURSULHWDWH
 IRUPDMXULGLFGHRUJDQL]DUH
 XQLWDWHDGHPVXU
 (URULOH GHSLVWDWH OD vQWRFPLUHD VLWXDLLORU ILQDQFLDUH VH FRUHFWHD] vQ FRQIRUPLWDWH FX 61&
3ROLWLFLFRQWDELOHPRGLILFULDOHHVWLPULORUFRQWDELOHHURULLHYHQLPHQWHXOWHULRDUH
 QWRFPLUHDLSUH]HQWDUHDVLWXDLLORUILQDQFLDUHFXSULQGXUPWRDUHOHHWDSH
 HIHFWXDUHD OXFUULORU SUHPHUJWRDUH vQWRFPLULL VLWXDLLORU ILQDQFLDUH FXP DU IL LQYHQWDULHUHD
JHQHUDODHOHPHQWHORUFRQWDELOHGHFRQWDUHDFKHOWXLHOLORULYHQLWXULORUDQWLFLSDWHDIHUHQWHSHULRDGHLGH
JHVWLXQHGHWHUPLQDUHDLUHIOHFWDUHDGLIHUHQHORUGHFXUVYDOXWDUvQWRFPLUHDvQUHJLVWUULORUGHFRUHFWDUH
GHWHUPLQDUHDFRWHLFXUHQWHDDFWLYHORULPRELOL]DWHLGDWRULLORUSHWHUPHQOXQJHWF
 FRPSOHWDUHDIRUPXODUHORUVLWXDLLORUILQDQFLDUH
 vQWRFPLUHDQRWHORUQRWHORUH[SOLFDWLYH ODVLWXDLLOHILQDQFLDUH
 DSUREDUHDVHPQDUHDLSUH]HQWDUHDVLWXDLLORUILQDQFLDUH
 UHIRUPDUHDELODQXOXL
%LODQXO
*HQHUDOLWL
 %LODQXOSUH]LQWSR]LLDILQDQFLDUDHQWLWLLLLQFOXGHLQIRUPDLLDIHUHQWHVROGXULORUH[LVWHQWH
ODGDWDUDSRUWULLSULYLQG
 activele UHVXUVHHFRQRPLFHLGHQWLILFDELOHLFRQWURODELOHGHFWUHHQWLWDWHFHSURYLQGLQIDSWH
HFRQRPLFHWUHFXWHGLQDFURUXWLOL]DUHVHDWHDSWRELQHUHDXQRUEHQHILFLLHFRQRPLFH
 capitalul propriu PULPHDUPDVvQDFWLYHOHHQWLWLLGXSVFGHUHDGDWRULLORU
 datoriile REOLJDLLDFWXDOHDOHHQWLWLLSURYHQLWHGLQIDSWHHFRQRPLFHWUHFXWHDFURUVWLQJHUH
FRQWULEXLHODRUHGXFHUHDUHVXUVHORUSXUWWRDUHGHEHQHILFLLHFRQRPLFH
 QELODQWRWDOXODFWLYHORUHVWHHFKLYDOHQWFXVXPDWRWDOXULORUFDSLWDOXOXLSURSULXLGDWRULLORU
 $FWLYHOHVvQWSUH]HQWDWHvQELODQvQRUGLQHDFUHWHULLOLFKLGLWLLDFHVWRUDLDUGDWRULLOHvQED]D
FUHWHULLH[LJLELOLWLL
 QIXQFLHGHJUDGXOGHOLFKLGLWDWHDFWLYHOHVHGLYL]HD]vQ
 DFWLYH FLUFXODQWH FDUH UHSUH]LQW DFWLYHOH FH VH DWHDSW V ILH FRQVXPDWH vQ FLFOXO QRUPDO GH
DFWLYLWDWHYvQGXWHVDXSULPLWH vQWHUPHQGHOXQLVDXFDUHUHSUH]LQWQXPHUDU
 DFWLYHLPRELOL]DWHFDUHFXSULQGWRDWHFHOHODOWHDFWLYHFXH[FHSLDFHORUFLUFXODQWH
 &LFOXO QRUPDO GH DFWLYLWDWH DO XQHL HQWLWL UHSUH]LQW SHULRDGD GH WLPS GLQWUH PRPHQWXO
DFKL]LLRQULL DFWLYHORU FDUH VvQW GHVWLQDWH SURFHVULL L PRPHQWXO WUDQVIRUPULL ORU vQ QXPHUDU &vQG
SHQWUX R HQWLWDWH DFHVW FLFOX QX HVWH FODU GXUDWD OXL VH FRQVLGHU  OXQL 6WRFXULOH FDUH VvQW YvQGXWH
FRQVXPDWHSURFHVDWHLFUHDQHOHFDUHVvQWDFKLWDWHFDSDUWH a ciclului normal de activitate vQWURSHULRDG
FH GHSHWH  OXQL GLQ GDWD UDSRUWULL VH FRQVLGHU DFWLYH FLUFXODQWH GH H[HPSOX PDWHULD SULP



PDWHULDOHOH SURGXFLD vQ FXUV GH H[HFXLH FDUH QHFHVLW PDWXUDUH L SVWUDUH OD HQWLWDWHD GH YLQLILFDLH
IUXFWHOHLVXFXULOHVXOILWDWHVDXFRQJHODWHODHQWLWDWHDGHFRQVHUYH 
 QIXQFLHGHJUDGXOH[LJLELOLWLLGDWRULLOHVHvPSDUWvQ
 GDWRULLFXUHQWHFDUHLQFOXGGDWRULLOHFHVHDWHDSWVILHDFKLWDWHVDXGHFRQWDWHvQWHUPHQGH
OXQLGLQGDWDUDSRUWULL
 GDWRULLOHSHWHUPHQOXQJFDUHFXSULQGWRDWHFHOHODOWHGDWRULLFXH[FHSLDFHORUFXUHQWH
 'DWRULLOH FRPHUFLDOH L FHOH ID GH DQJDMDL FDUH VvQW vQUHJLVWUDWH FD SDUWH FRPSRQHQW a
ciclului normal de activitate VvQWGDWRULLFXUHQWHFKLDUGDFHOHVvQWH[LJLELOHvQWUXQWHUPHQFHGHSHWH
OXQLGLQGDWDUDSRUWULL
 /D GDWD UDSRUWULL HQWLWDWHD GHWHUPLQ FRWD FXUHQW D DFWLYHORU LPRELOL]DWH L D GDWRULLORU SH
WHUPHQ OXQJ FDUH VH UHIOHFW vQ ELODQ UHVSHFWLY vQ FRPSRQHQD DFWLYHORU FLUFXODQWH LVDX GDWRULLORU
FXUHQWH
 &UHDQHOH QXPHUDUXO L GDWRULLOH vQ YDOXW VWULQ VH UHFDOFXOHD] L VH UHIOHFW vQ ELODQ vQ
FRQIRUPLWDWHFX61&'LIHUHQHGHFXUVYDOXWDULGHVXP
 %LODQXOVHvQWRFPHWHFRQIRUPIRUPXODUXOXLSUH]HQWDWvQDQH[D
Active
 Q UvQGXO  ,PRELOL]UL QHFRUSRUDOH VH UHIOHFW YDORDUHD FRQWDELO D LPRELOL]ULORU
QHFRUSRUDOH vQ XWLOL]DUH L vQ FXUV GH H[HFXLH GHWHUPLQDW vQ FRQIRUPLWDWH FX 61& ,PRELOL]UL
QHFRUSRUDOHLFRUSRUDOH
Exemplul 1. 2HQWLWDWHODGDWDUDSRUWULLGLVSXQHGHXUPWRDUHOHLQIRUPDLL
- FRVWXOLPRELOL]ULORUQHFRUSRUDOHvQFXUVGHH[HFXLH 78 000 lei;
- FRVWXOLPRELOL]ULORUQHFRUSRUDOHvQXWLOL]DUH 450 000 lei;
- VXPDDPRUWL]ULLFXPXODWH- 85 000 lei;
- pierderile din depreciere - 24 000 lei.
&RQIRUP GDWHORU GLQ H[HPSOX HQWLWDWHD UHIOHFW vQ UG  ,PRELOL]UL QHFRUSRUDOH GLQ ELODQ
valoarea cRQWDELODLPRELOL]ULORUQHFRUSRUDOHvQVXPGHOHL   OHL  lei 
lei  OHL 
 Q UvQGXO  ,PRELOL]UL FRUSRUDOH vQ FXUV GH H[HFXLH VH UHIOHFW FRVWXULOH DIHUHQWH
LPRELOL]ULORUFRUSRUDOHDIODWHvQSHULRDGDGHFUHDUHLVDXSUHJWLUHVSUHXWLOL]DUHSvQODGDWDSXQHULLvQ
H[SORDWDUHFDUHVHGHWHUPLQvQFRQIRUPLWDWHFX61&,PRELOL]ULQHFRUSRUDOHLFRUSRUDOH
 QUvQGXULOH7HUHQXULL0LMORDFHIL[HVHUHIOHFWYDORDUHDFRQWDELODWHUHQXULORU
mijloacHORUIL[HSURSULLLSULPLWHvQOHDVLQJILQDQFLDULVDXvQJHVWLXQHHFRQRPLFDIODWHvQH[SORDWDUH
Exemplul 2. 2HQWLWDWHODGDWDUDSRUWULLGLVSXQHGHXUPWRDUHOHLQIRUPDLL
- costul de intrare a mijloacelor fixe - 4 500 000 lei;
- DPRUWL]DUHDFXPXODW 870 000 lei;
- pierderea din depreciere 390 000 lei.
&RQIRUPGDWHORUGLQH[HPSOXHQWLWDWHDYDUHIOHFWDvQUG0LMORDFHIL[HGLQELODQYDORDUHD
FRQWDELODPLMORDFHORUIL[HvQVXPGHOHL  OHL  OHL  OHL 
 QUvQGXO5HVXUVHPLQHUDOHVHUHIOHFWYDORDUHDFRQWDELODUHVXUVHORUPLQHUDOHDIODWHvQ
H[WUDFLHFDUHVHGHWHUPLQvQFRQIRUPLWDWHFX61&,PRELOL]ULQHFRUSRUDOHLFRUSRUDOH
 Q UvQGXO  $FWLYH ELRORJLFH LPRELOL]DWH VH UHIOHFW YDORDUHD contabiO D DQLPDOHORU de
PXQF L SURGXFWLYH WDXULL FDLL GH WUDFLXQH YDFLOH RYLQHOH SRUFLQHOH FDSULQHOH HWF  SODQWDLLORU
SHUHQH OLYH]LOHYLLOHSHSLQLHUHOHYLWLFROHLSRPLFROHHWF FDUHVHGHWHUPLQvQFRQIRUPLWDWHFX61&
3DUWLFXODULWLOHFRQWDELOLWLLvQDJULFXOWXU
 Q UvQGXULOH  ,QYHVWLLL ILQDQFLDUH SH WHUPHQ OXQJ vQ SUL QHDILOLDWH L  ,QYHVWLLL
ILQDQFLDUH SH WHUPHQ OXQJ vQ SUL DILOLDWH VH vQVFULH YDORDUHD LQYHVWLLLORU SH WHUPHQ OXQJ DFLXQLOH
SURFXUDWH FRWHOH GH SDUWLFLSDLH REOLJDLXQLOH SURFXUDWH vPSUXPXWXULOH DFRUGDWH DOWH LQYHVWLLL SH
WHUPHQOXQJ FDUHVHGHWHUPLQvQFRQIRUPLWDWHFX61&&UHDQHLLQYHVWLLLILQDQFLDUHL61&3UL
DILOLDWHLFRQWUDFWHGHVRFLHWDWHFLYLO
 Q UvQGXO  ,QYHVWLLL LPRELOLDUH VH UHIOHFW YDORDUHD FRQWDELO D LQYHVWLLLORU LPRELOLDUH
FDUHVHGHWHUPLQvQFRQIRUPLWDWHFX61&,QYHVWLLLLPRELOLDUH



 QUvQGXO&UHDQHSHWHUPHQOXQJVHLQGLFYDORDUHDFUHDQHORUFXWHUPHQXOGHVWLQJHUH
FHGHSHWHOXQLGLQGDWDUDSRUWULLFDUHVHGHWHUPLQvQFRQIRUPLWDWHFX61&&UHDQHLLQYHVWLLL
ILQDQFLDUH
 Q UvQGXO  $YDQVXUL DFRUGDWH SH WHUPHQ OXQJ VH LQGLF VXPD DYDQVXULORU DFRUGDWH FX
WHUPHQXOGHVWLQJHUHFHGHSHWHOXQLGLQGDWDUDSRUWULLFDUHVHGHWHUPLQ vQFRQIRUPLWDWHFX61&
&UHDQHLLQYHVWLLLILQDQFLDUH
 QUvQGXO$OWHDFWLYHLPRELOL]DWHVHvQVFULHVXPDFKHOWXLHOLORUDQWLFLSDWHSHWHUPHQOXQJ
YDORDUHDDFWLYHORUDPvQDWHSULYLQGLPSR]LWXOSHYHQLWLDDOWRUDFWLYHLPRELOL]DWH
 n rndul  7RWDO DFWLYH LPRELOL]DWH VH LQGLF YDORDUHD WRWDO D DFWLYHORU LPRELOL]DWH
GHWHUPLQDWSULQUHODLDUGUGUGUGUGUGUGUGUG
UGUGUG
 QUvQGXULOH0DWHULDOH$FWLYH ELRORJLFHFLUFXODQWH2ELHFWHGHPLFYDORDUH
L VFXUW GXUDW  3URGXFLD vQ FXUV GH H[HFXLH L SURGXVH L  0UIXUL VH vQVFULH YDORDUHD
FRQWDELODDFHVWRUVWRFXULFDUHVHGHWHUPLQvQFRQIRUPLWDWHFX61&6WRFXULL61&3DUWLFXODULWLOH
FRQWDELOLWLLvQDJULFXOWXU
 QUvQGXO&UHDQHFRPHUFLDOHVHvQVFULHYDORDUHDFUHDQHORUFXUHQWHDOHFXPSUWRULORUL
FOLHQLORUGLQDULGLQVWULQWDWHSUHFXPLFUHDQHOHDIHUHQWHFDPELLORUSULPLWHFDUHVHGHWHUPLQvQ
conformitate FX61&&UHDQHLLQYHVWLLLILQDQFLDUH
Exemplul 3. 2HQWLWDWHODGDWDUDSRUWULLGLVSXQHGHXUPWRDUHOHGDWHFUHDQHOHFXPSUWRULORU
L FOLHQLORU GLQ DU    OHL GLQ VWULQWDWH   OHL VXPD SURYL]LRDQHORU FRUHFLLORU 
SHQWUXFUHDQele compromise 45 000 lei.
&RQIRUPGDWHORUGLQH[HPSOXHQWLWDWHDUHIOHFWvQUG &UHDQHFRPHUFLDOHGLQELODQVXPDGH
OHL  OHLOHL   OHL 
 Q UvQGXO  &UHDQH DOH SULORU DILOLDWH VH UHIOHFW VXPD FUHDQHORU FXUHQWH DOH SULORU
DILOLDWHFDUHVHGHWHUPLQvQFRQIRUPLWDWHFX61&&UHDQHLLQYHVWLLLILQDQFLDUHL61&3ULDILOLDWH
LFRQWUDFWHGHVRFLHWDWHFLYLO
 QUvQGXO$YDQVXULDFRUGDWHFXUHQWHVHvQVFULHVXPDDYDQVXULORUDFRUGDWHIXUQL]Rrilor de
DFWLYHLSUHVWDWRULORUGHVHUYLFLLSHXQWHUPHQQXPDLPDUHGHOXQLFDUHVHGHWHUPLQvQFRQIRUPLWDWH
FX61&&UHDQHLLQYHVWLLLILQDQFLDUH
 Q UvQGXULOH  &UHDQH DOH EXJHWXOXL L  &UHDQH DOH SHUVRQDOXOXL VH UHIOHFW VXPD
creaQHORU EXJHWXOXL L SHUVRQDOXOXL FDUH VH GHWHUPLQ vQ FRQIRUPLWDWH FX 61& &UHDQH L LQYHVWLLL
ILQDQFLDUH
 Q UvQGXO  $OWH FUHDQH FXUHQWH VH vQVFULH VXPD FUHDQHORU SULYLQG DUHQGD OHDVLQJXO
ORFDLXQHDGREvQ]LOHUHGHYHQHOHLDOWHYHQLWXULFDOFXODWHFUHDQHOHSUHOLPLQDWHSUHFXPLVXPDDOWRU
FUHDQH FXP DU IL FUHDQHOH FXUHQWH FDOFXODWH DOH FRPSDQLLORU GH DVLJXUDUH SULYLQG GHVSJXELULOH
FUHDQHOHRUJDQHORUGHDVLJXUULVRFLDOHFUHDQHOHSULYLQGUHFODPDLLOHvQDLQWDWHLUHFXQRVFXWHFUHDQHOH
SULYLQGDOWHRSHUDLL
 QUvQGXULOH1XPHUDUvQFDVLHULHLODFRQWXULFXUHQWHL$OWHHOHPHQWHGHQXPHUDU
VHvQVFULHVXPDWRWDODQXPHUDUXOXLGLQFDVLHULHL UHVSHFWLY ODFRQWXULOHFXUHQWHvQPRQHGQDLRQDOL
YDOXW VWULQ D QXPeraUXOXL OD DOWH FRQWXUL EDQFDUH vQ H[SHGLLH L YDORDUHD GRFXPHQWHORU EQHWL
WLPEUHORU WD[HL GH VWDW PUFLORU SRWDOH ELOHWHORU GH FOWRULH SOWLWH ELOHWHORU GH WUDWDPHQW L RGLKQ
HWF 
 Q UvQGXULOH  ,QYHVWLLL ILQDQFLDUH FXUHQWH vQ SUL nHDILOLDWH L  ,QYHVWLii financiare
FXUHQWH vQ SUL DILOLDWH VH LQGLF YDORDUHD WLWOXULORU GH YDORDUH SURFXUDWH GHSR]LWHORU EDQFDUH
vPSUXPXWXULORU DFRUGDWH L DOWH LQYHVWLLL vQ SUL QHDILOLDWH FDUH VH GHWHUPLQ vQ FRQIRUPLWDWH FX 61&
&UHDQHLLQYHVWLLLILQDQFLDUH
 Q UvQGXO  $OWH DFWLYH FLUFXODQWH VH UHIOHFW VXPD FKHOWXLHOLORU DQWLFLSDWH FXUHQWH L
YDORDUHDDOWRUDFWLYHFLUFXODQWH
 Q UvQGXO  7RWDO DFWLYH FLUFXODQWH VH LQGLF YDORDUHD WRWDO D DFWLYHORU FLUFXODQWH
determinat SULQ UHODLD UG+UG+UG+UG+UG+UG+UG+UGUGUG
UGUG+UGUG+UGUG
 QUvQGXO7RWDODFWLYHVHvQVFULHYDORDUHDWRWDODDFWLYHORULPRELOL]DWHLFLUFXODQWHDOH
HQWLWLLGHWHUPLQDWSULQUHODLDUGUG



Capital propriu
 n rndul 320 &DSLWDOVRFLDOLVXSOLPHQWDU VHvQVFULHYDORDUHDFDSLWDOXOXLVRFLDOVXSOLPHQWDU
QHYUVDWQHvQUHJLVWUDWLUHWUDVFDUHVHGHWHUPLQvQFRQIRUPLWDWHFX61&&DSLWDOSURSULXLGDWRULL
Exemplul 4. 2HQWLWDWHODGDWDUDSRUWULLGLVSXQHGHXUPWRDUHOHGDWHSULYLQGVROGXULOH
- capitalului social - 1 350 000 lei;
- capitalului suplimentar - 160 000 lei;
- FDSLWDOXOXLQHYUVDW- 240 000 lei;
- capitalului retras - 180 000 lei.
&RQIRUP GDWHORU GLQ H[HPSOX HQWLWDWHD vQVFULH vQ Undul  &DSLWDO VRFLDO L VXSOLPHQWDU GLQ
ELODQVXPDGHOHL  OHLOHL  OHL  OHL 
 QUvQGXO5H]HUYHVHUHIOHFWVXPDWRWDODFDSLWDOXOXLGHUH]HUYDUH]HUYHORUVWDWutare
LDOWRUUH]HUYHFRQVWLWXLWHGHFWUHHQWLWDWH
 QUvQGXO&RUHFLLDOHUH]XOWDWHORUDQLORUSUHFHGHQLVHvQVFULHUH]XOWDWXORELQXWDODQLORU
SUHFHGHQL GHSLVWDW vQ SHULRDGD GH JHVWLXQH SURILWXO FX FLIUH SR]LWLYH SLHUGHUHD FX VHPQXO PLQXV
vQWUHSDUDQWH]H 
 QUvQGXO3URILWQHUHSDUWL]DW SLHUGHUHQHDFRSHULW DODQLORUSUHFHGHQLVHUHIOHFWVXPD
SURILWXOXL QHUHSDUWL]DW SLHUGHULL QHDFRSHULWH  DO DQLORU SUHFHGHQL FDUH VH GHWHUPLQ vQ FRQIRUPLWDWH FX
61&&DSLWDOSURSULXLGDWRULLSUHFXPLUH]XOWDWXOGLQWUDQ]LLDODQRLOHUHJOHPHQWULFRQWDELOH
 QUvQGXO3URILWQHW SLHUGHUHQHW DOSHULRDGHLGHJHVWLXQHVHvQVFULHVXPDSURILWXOXL net
(SLHUGHULL QHWH DO SHULRDGHL GH JHVWLXQH vQWUH SDUDQWH]H  FDUH VH GHWHUPLQ vQ VLWXDLD GH SURILW L
SLHUGHUH
 Q UvQGXO  3URILW XWLOL]DW DO SHULRDGHL GH JHVWLXQH VH UHIOHFW vQWUH SDUDQWH]H VXPD
SURILWXOXL XWLOL]DW DO SHULRDGHL GH JHVWLXQH SHQWUX SODWD GLYLGHQGHORU FRQVWLWXLUHD UH]HUYHORU L vQ DOWH
VFRSXULFRQIRUPGHFL]LHLRUJDQXOXLGHFRQGXFHUHvPSXWHUQLFLWDOHQWLWLL
 Q UvQGXO  $OWH HOHPHQWH GH FDSLWDO SURSULX VH UHIOHFW VXPD DOWRU HOHPHQWH GH FDSLWDO
SURSULXFXPDUILGLIHUHQHOHGHUHHYDOXDUHDDFWLYHORULPRELOL]DWHSHQWUXHQWLWLOHFDUHDSOLFPRGHOXO
UHHYDOXULLFRQIRUP,)56VXEYHQLLOHSULPLWHGHFWUHHQWLWLOHFXSURSULHWDWHSXEOLFGHODDXWRULWLOH
DGPLQLVWUDLHL SXEOLFH FHQWUDOH L ORFDOH L GHFRQWDWH GXS vQGHSOLQLUHD FRQGLLLORU FRQWUDFWXDOH  vQ
FRQIRUPLWDWHFX61&&DSLWDOSURSULXLGDWRULL
 n rvQGXO  7RWDO FDSLWDO SURSULX VH vQVFULH WRWDOXO HOHPHQWHORU GH FDSLWDO SURSULX
GHWHUPLQDWSULQUHODLDUGUGUGUGUGUGUG
Datorii
 Q UvQGXO  &UHGLWH EDQFDUH SH WHUPHQ OXQJ VH UHIOHFW VXPD WRWDO D FUHGLWHORU Eancare
SULPLWHSHXQWHUPHQPDLPDUHGHOXQLGLQGDWDUDSRUWULL
 QUvQGXOPSUXPXWXULSHWHUPHQOXQJVHUHIOHFWVXPDWRWDODvPSUXPXWXULORUSULPLWH
LQFOXVLYYDORDUHDREOLJDLXQLORUHPLVHLSODVDWHDFDPELLORUDFRUGDWHSHXQWHUPHQPDLPDUHGHOXQL
GLQGDWDUDSRUWULL
 QUvQGXO'DWRULLSHWHUPHQOXQJSULYLQGOHDVLQJXOILQDQFLDUVHvQVFULHVXPDGDWRULLORUSH
WHUPHQOXQJDIHUHQWHSULQFLSDOXOXL YDORULLUDPEXUVDELOH SULYLQGRSHUDLLOHGHOHDVLQJILQDQFLDUFDUHVH
GHWHUPLQvQFRQIRUPLWDWHFX61&&RQWUDFWHGHOHDVLQJ
 QUvQGXO$OWHGDWRULLSHWHUPHQOXQJVHUHIOHFWVXPDYHQLWXULORUDQWLFLSDWHILQDQULORU
LvQFDVULORUFXGHVWLQDLHVSHFLDOSURYL]LRDQHORULDOWRUGDWRULLSHWHUPHQOXQJFXWHUPHQXOGHVWLQJHUH
(deconWDUH PDLPDUHGHOXQLGLQGDWDUDSRUWULL
 QUvQGXO7RWDOGDWRULLSHWHUPHQOXQJVHUHIOHFWVXPDWRWDODGDWRULLORUSHWHUPHQOXQJ
DOHHQWLWLLGHWHUPLQDWSULQUHODLDUGUGUGUG
 Q UvQGXO  &UHGLWH EDQFDUH SH WHUPHQ VFXUW VH LQGLF VXPD FUHGLWHORU EDQFDUH SULPLWH
LQFOXVLYGREvQ]LOHDIHUHQWHFXWHUPHQXOGHUDPEXUVDUHQXPDLPDUHGHOXQLGLQGDWDUDSRUWULL
 QUvQGXOPSUXPXWXULSHWHUPHQVFXUWVHLQGLFVXPDvPSUXPXWXULORUSULPLWHLQFOXVLY
GREvQ]LOHDIHUHQWHFXWHUPHQXOGHUDPEXUVDUHQXPDLPDUHGHOXQLGLQGDWDUDSRUWULL
 QUvQGXO'DWRULLFRPHUFLDOHVHvQVFULHVXPDGDWRULLORUHQWLWLLIDGHIXUQL]RULSULYLQG
EXQXULOHSURFXUDWH L VHUYLFLLOHSULPLWHFDUHXUPHD]DILDFKLWDWHVDXWUHFXWHvQFRQWvQWHUPHQGHOXQL
GLQGDWDUDSRUWULL



 Q UvQGXO  'DWRULL ID GH SULOH DILOLDWH VH LQGLF VXPD GDWRULLORU HQWLWLL ID GH
vQWUHSULQGHULOHILLFHDVRFLDWHVRFLHWLOHFLYLOHL DOWHSULDILOLDWHDFURUFRPSRQHQVHGHWHUPLQ n
FRQIRUPLWDWHFX61&3ULDILOLDWHLFRQWUDFWHGHVRFLHWDWHFLYLO
 QUvQGXO$YDQVXULSULPLWHFXUHQWHVHvQVFULHVXPDDYDQVXULORUSULPLWHSHXQWHUPHQQX
PDLPDUHGHOXQLGLQGDWDUDSRUWULL
 Q UvQGXO  'DWRULL ID GH SHUVRQDO VH vQVFULH VXPD GDWRULLORU HQWLWLL ID GH SHUVRQDO
SULYLQG UHWULEXLUHD PXQFLL L DOWH RSHUDLL GH H[HPSOX GHSODVUL FRPSHQVDUHD XQRU FKHOWXLHOL IU
SULPLUHDDYDQVXOXLXWLOL]DUHDbunurilor SHUVRQDOe vQVFRSXULGHVHUYLFLX 
 QUvQGXO'DWRULLSULYLQGDVLJXUULOHVRFLDOHLPHGLFDOHVHLQGLFGDWRULLOHHQWLWLLID
GHRUJDQHOHGHDVLJXUULVRFLDOHLPHGLFDOH LQFOXVLYLFHOHLQGLYLGXDOH GHWHUPLQDWHFRQIRUPOHJLVODLHL
vQYLJRDUH
 Q UvQGXO  'DWRULL ID GH EXJHW VH vQUHJLVWUHD] VXPD GDWRULLORU ID GH EXJHW SULYLQG
LPSR]LWHOHLWD[HOHSUHFXPLVDQFLXQLOHDIHUHQWHGHWHUPLQDWHvQFRQIRUPLWDWHFXOHJLVODLa vQYLJRDUH
 Q UvQGXO  9HQLWXUL DQWLFLSDWH FXUHQWH VH UHIOHFW VXPD YHQLWXULORU DQWLFLSDWH FDUH
XUPHD]DILGHFRQWDWHODYHQLWXULFXUHQWHvQXUPWRDUHOHOXQL
 Q UvQGXO  'DWRULL ID GH SURSULHWDUL VH vQVFULH VXPD GDWRULLORU HQWLWLL SULYLQG
GLYLGHQGHOHFDOFXODWHLDOWHRSHUDLXQLSULYLQGGHFRQWULOHFXSURSULHWDULL
 Q UvQGXO  )LQDQUL L vQFDVUL FX GHVWLQDLH VSHFLDO FXUHQWH VH vQVFULH VXPHOH
numerarului L YDORDUHD DFWLYHORU SULPLWH GH SULPLW  SHQWUX UHDOL]DUHD XQRU PLVLXQL VSHFLDOH SH XQ
WHUPHQQXPDLPDUHGHOXQLGLQGDWDUDSRUWULLFDUHVHGHWHUPLQvQFRQIRUPLWDWHFX61&&DSLWDO
SURSULXLGDWRULL
 QUvQGXO3URYL]LRDQHFXUHQWHVHLQGLFVXPDSURYL]LRDQHORUFRQVWLWXLWHFDUHXUPHD]D
IL XWLOL]DWH vQWUXQ WHUPHQ GH  OXQL GLQ GDWD UDSRUWULL FDUH VH GHWHUPLQ vQ FRQIRUPLWDWH FX 61&
&DSLWDOSURSULXLGDWRULL
 Q UvQGXO  $OWH GDWRULL FXUHQWH VH vQVFULH VXPD GDWRULLORU SUHOLPLQDWH GDWRULLORU ID GH
FRPSDQLLOHGHDVLJXUDUHSULYLQGDVLJXUDUHDEXQXULORULSHUVRDQHORUGDWRULLORUSULYLQGEXQXULOHSULPLWHvQ
JHVWLXQHHFRQRPLFGDWRULLORUSULYLQGVDQFLXQLOHFRPHUFLDOHLDOWRUGDWRULLFXUHQWH
 Q UvQGXO  7RWDO GDWRULL FXUHQWH VH vQVFULH VXPD WRWDO D GDWRULLORU FXUHQWH DOH HQWLWLL
dHWHUPLQDW SULQ UHODLD UGUGUGUGUGUGUGUGUGUG
UGUGUG
 QUvQGXO7RWDOSDVLYHVHLQGLFVXPDWRWDODFDSLWDOXOXLSURSULXDGDWRULLORUSHWHUPHQ
OXQJLFXUHQWHDOHHQWLWLLGHWHUPLQDWSULQUHODLDUGUGUG
6LWXDLDGHSURILWLSLHUGHUH
 6LWXDLDGHSURILWLSLHUGHUHFDUDFWHUL]HD]SHUIRUPDQDILQDQFLDUDHQWLWLL SHQWUXSHULRDGD
GHJHVWLXQHLFRQLQHLQIRUPDLLSULYLQG
 veniturile FUHWHULDOHEHQHILFLLORUHFRQRPLFHvQUHJLVWUDWHvQFXUVXOSHULRDGHLGHJHVWLXQHVXE
IRUPDLQWUULORUGHDFWLYHVDXPDMRUULLYDORULLDFHVWRUDVDXDGLPLQXULLGDWRULLORUFDUHDXGUHSWUH]XOWDW
FUHWHULDOHFDSLWDOXOXLSURSULXFXH[FHSLDFHORUOHJDWHGHFRQWULEXLLOHSURSULHWDULORU
 cheltuielile GLPLQXUL DOH EHQHILFLLORU HFRQRPLFH vQUHJLVWUDWH vQ SHULRDGD GH JHVWLXQH VXE
IRUPGHLHLULVDXUHGXFHULDOHYDORULLDFWLYHORUVDXGHFUHWHULDOHGDWRULLORUFDUHFRQWULEXLHODGLPLQXUL
DOHFDSLWDOXOXLSURSULXDOWHOHGHFvWFHOHUH]XOWDWHGLQGLVWULEXLUHDDFHVWXLDSURSULHWDULORU
 rezultatele financiare SURILWXO SLHUGHUHD FDOFXODWFDGLIHUHQGLQWUHYHQLWXULOHLFKHOWXLHOLOH
SHULRDGHLGHJHVWLXQH
 9HQLWXULOHLFKHOWXLHOLOHDIHUHQWHDFHORUDLRSHUDLXQLHFRQRPLFHVHUHIOHFWvQVLWXDLDGHSURILW
L SLHUGHUH vQ DFHLDL SHULRDG GH JHVWLXQH GH H[HPSOX YDORDUHD FRQWDELO D EXQXULORU YvQGXWH L
YDORDUHDGHYvQ]DUHDDFHVWRUDVH UHFXQRVFFRQFRPLWHQWvQDFHLDLSHULRDGGHJHVWLXQH 
 QFD]XOvQFDUHvQSHULRDGDGHJHVWLXQHQXDXIRVWvQUHJLVWUDWHYHQLWXULGDUDXIRVWVXSRUWDWH
FKHOWXLHOLFDUHWUHEXLHUHFXQRVFXWHvQFRQIRUPLWDWHFX61&&KHOWXLHOLDFHVWHDVHSUH]LQWvQVLWXDLD
GHSURILWLSLHUGHUHvQSHULRDGDGHJHVWLXQHvQFDUHDXIRVWVXSRUWDWH'DFvQSHULRDGDGHJHVWLXQHDX
IRVWvQUHJLVWUDWHGRDUYHQLWXULFDUHWUHEXLHUHFXQRVFXWHvQFRQIRUPLWDWHFX61&9HQLWXULLQXDXIRVW
VXSRUWDWHFKHOWXLHOLDFHVWHDWUHEXLHSUH]HQWDWHvQVLWXDLDGHSURILWLSLHUGHUHvQSHULRDGDGHJHVWLXQHvQ
FDUHDXIRVWFvWLJDWH



 6LWXDLD GH SURILW L SLHUGHUH VH vQWRFPHWH vQ ED]D FODVLILFULL FKHOWXLHOLORU GXS GHVWLQDLH
IXQFLL FRQIRUPIRUPXODUXOXLSUH]HQWDWvQDQH[D
 QUvQGXO9HQLWXULGLQYvQ]ULVHUHIOHFWVXPDYHQLWXULORUGLQYvQ]ULRELQXWHvQFDGUXO
DFWLYLWLLRSHUDLRQDOH$FHVWDFXSULQGHYHQLWXULOHGLQ
 YvQ]DUHDDSURGXVHORUPUIXULORU
 SUHVWDUHDVHUYLFLLORULVDXH[HFXWDUHDOXFUULORU
 FRQWUDFWHGHFRQVWUXFLH
 FRQWUDFWHGHOHDVLQJRSHUDLRQDOLILQDQFLDU DUHQGORFDLXQH 
 GLYLGHQGHSDUWLFLSDLLLVDXGREvQ]LFDUHSHQWUXHQWLWDWHUHSUH]LQWDFWLYLWDWHRSHUDLRQDO
6XPD YHQLWXULORU GLQ YvQ]UL UHFXQRVFXW vQ SHULRDGD GH JHVWLXQH VH DMXVWHD] FX YDORDUHD
SURGXVHORU L PUIXULORU UHWXUQDWH GH FXPSUWRUL LVDX UHGXFHULOH GH SUH OD SURGXVH PUIXUL OLYUDWH
LVDXVHUYLFLLSUHVWDWH vQDFHLDLSHULRDGGHJHVWLXQHvQFDUHDDYXWORFOLYUDUHD
 Q UvQGXO  &RVWXO YvQ]ULORU VH UHIOHFW YDORDUHD FRQWDELO D SURGXVHORUPUIXULORU
YvQGXWH FRVWXULORU VHUYLFLLORU SUHVWDWHOXFUULORU H[HFXWDWH vQ FDGUXO DFWLYLWLL RSHUDLRQDOH D HQWLWLL
DWULEXLWHODFKHOWXLHOLLFRUHODWHFXYHQLWXULOHvQUHJLVWUDWHvQUG&RVWXOYvQ]ULORULQFOXGH
 YDORDUHDFRQWDELODSURGXVHORUPUIXULORUYvQGXWH
 FRVWXOVHUYLFLLORUSUHVWDWHLVDXOXFUULORUH[HFXWDWH
 FRVWXOOXFUULORUDIHUHQWHFRQWUDFWHORUGHFRQVWUXFLH
 FRVWXOVHUYLFLLORUDIHUHQWHFRQWUDFWHORUGHOHDVLQJRSHUDLRQDOLILQDQFLDU DUHQGORFDLXQH 
 DOWH FRVWXUL FDUH VH UHIHU OD DFWLYLWDWHD RSHUDLRQDO FRUHODWH FX YHQLWXULOH GLQ YvQ]UL GH
H[HPSOXFRVWXULOHDFWLYLWLLGHED]DHQWLWLORUGHPLFURILQDQDUHDHQWLWLORUGHLQYHVWLLL 
6XPDFRVWXOXLYvQ]ULORUvQUHJLVWUDWvQSHULRDGDGHJHVWLXQHVHDMXVWHD]FXYDORDUHDFRQWDELOD
SURGXVHORUPUIXULORU YvQGXWH L UHWXUQDWH HQWLWLL vQ DFHLDL SHULRDG GH JHVWLXQH vQ FDUH D DYXW ORF
OLYUDUHD
 QUvQGXO3URILWEUXW SLHUGHUHEUXW VHUHIOHFWGLIHUHQDGLQWUHYHQLWXULOHGLQYvQ]ULL
FRVWXOYvQ]ULORUGHWHUPLQDWSULQUHODLDUGUG
Exemplul 5. QDQXO;HQWLWDWHDDFRPHUFLDOL]DWXQLWLGHSURGXVHODFRVWXOXQLWDUGH
OHLL SUHXO GHYvQ]DUHXQLWDU GHOHL3HSDUFXUVXODFHOHLDLSHULRDGH de gestiune au fost returnate
185 dHXQLWLGHSURGXVH
&RQIRUPGDWHORUGLQH[HPSOXHQWLWDWHDUHIOHFWvQVLWXDLDGHSURILWVLSLHUGHUH
 vQUG9HQLWXULGLQYvQ]ULVXPDGHOHL XQLWL[OHL XQLWL[
OHL 
 vQUG&RVWXOYvQ]ULORUVXPDGHOHL XQLWL[OHL XQLWL[OHL 
 vQUG3URILWEUXW SLHUGHUHEUXW VXPDSURILWXOXLEUXWGHOHL OHL 
OHL 
 Q UvQGXO  $OWH YHQLWXUL GLQ DFWLYLWDWHD RSHUDLRQDO VH UHIOHFW YHQLWXULOH FDUH DSDU vQ
SURFHVXOGHVIXUULLDFWLYLWLLRSHUDLRQDOHGDUFDUHQXSRWILDWULEXLWHODYHQLWXULGLQYvQ]UL$FHVWHD
FXSULQGYHQLWXULOH
 GLQLHLUHDDOWRUDFWLYHFLUFXODQWH FXH[FHSLDYHQLWXULORUUHIOHFWDWHvQUG 
 VXEIRUPGHDPHQ]LSHQDOLWLLDOWHVDQFLXQL
 GLQUHFXSHUDUHDSUHMXGLFLXOXLPDWHULDOFDX]DWHQWLWLL
 din decontarea datoriilor cXWHUPHQGHSUHVFULSLHH[SLUDW
 GLQVXEYHQLLLVDXXWLOL]DUHDPLMORDFHORUFXGHVWLQDLHVSHFLDO
 GLQSOXVXULOHGHDFWLYHFRQVWDWDWHODLQYHQWDULHUH
 din alte oSHUDLXQLDIHUHQWHDFWLYLWLLRSHUDLRQDOH
Exemplul 6. QDQXO;HQWLWDWHDDvQUHJLVWUDWYHQLWXULDIHUHQWHDFWLYLWLLRSHUDLRQDOHUH]XOWDWH
din:
 YvQ]DUHDXQRUPDWHULDOH 18 990 lei;
 FRQVWDWDUHDSOXVXULORUGHPUIXULODLQYHQWDULHUH 1 200 lei;
 calFXODUHDSUHMXGLFLXOXLPDWHULDOFDX]DWHQWLWLLGHFWUHSHUVRDQDYLQRYDW 7 290 lei;
 GHFRQWDUHDGDWRULLORUFRPHUFLDOHFXWHUPHQXOGHSUHVFULSLHH[SLUDW-17 500 lei;
 DQXODUHD VDQFLXQLORU ILVFDOH DIHUHQWH SeULRDGHORU SUHFHGHQWH FRQIRUP KRWUvULL LQVWDQei
MXGHFWRUHWL- 3500 lei.



&RQIRUP GDWHORU GLQ H[HPSOX HQWLWDWHD UHIOHFW vQ UG  $OWH YHQLWXUL GLQ DFWLYLWDWHD
RSHUDLRQDOGLQVLWXDLDGHSURILWVLSLHUGHUHSHQWUXDQXO;VXPDGHOHL   OHL
OHLOHLOHL OHL 
 Q UvQGXO  &KHOWXLHOL GH GLVWULEXLUH VH UHIOHFW FKHOWXLHOLOH DIHUHQWH FRPHUFLDOL]ULL
SURGXVHORUPUIXULORU SUHVWULL GH VHUYLFLL LVDX H[HFXWUL GH OXFUUL GHWHUPLQDWH vQ FRQIRUPLWDWH FX
61&&KHOWXLHOL
 QUvQGXO&KHOWXLHOLDGPLQLVWUDWLYHVHUHIOHFWFKHOWXLHOLOHSULYLQGGHVHUYLUHDLJHVWLXQHD
HQWLWLLvQDQVDPEOXGHWHUPLQDWHvQFRQIRUPLWDWHFX61&&KHOWXLHOL
 Q UvQGXO  $OWH FKHOWXLHOL GLQ DFWLYLWDWHD RSHUDLRQDO VH SUH]LQW FKHOWXLHOLOH OHJDWH GH
GHVIXUDUHDDFWLYLWLLRSHUDLRQDOHDHQWLWLLGDUFDUHQXSRWILDWULEXLWHODFRVWXOYvQ]ULORUFKHOWXLHOLOH
GHGLVWULEXLUHVDXFKHOWXLHOLOHDGPLQLVWUDWLYH$FHVWHDVHGHWHUPLQvQFRQIRUPLWDWHFX61&&KHOWXLHOL
LvQSULQFLSDOFXSULQGFKHOWXLHOLOH
 GLQ LHLUHD YvQ]DUHD WUDQVPLWHUHD WHULORU FDVDUHD HWF  DOWRU DFWLYH FLUFXODQWH FX H[FHSLD
FKHOWXLHOLORULQGLFDWHvQUvQGXO
 VXEIRUPDGHDPHQ]LSHQDOLWLLDOWHVDQFLXQL
 SULYLQG GREvQ]LOH DIHUHQWH FUHGLWHORU L vPSUXPXWXULORU SULPLWH L FRQWUDFWHORU GH OHDVLQJ
ILQDQFLDU
 SULYLQGOLSVXULOHLSLHUGHULOHGLQGHWHULRUDUHDDFWLYHORUFRQVWDWDWHODLQYHQWDULHUH
 DIHUHQWH FRVWXULORU LQGLUHFWH GH SURGXFLH QHLQFOXVH vQ FRVWXO SURGXVHORU IDEULFDWHVHUYLFLLORU
SUHVWDWH OXFUULORUH[HFXWDWH 
 DIHUHQWHSURGXVHORUUHEXWDWHLFRPHQ]LORUGHSURGXFLHDQXODWHHWF
Exemplul 7. QDQXO;HQWLWDWHDDVXSRUWDWFKHOWXLHOLDIHUHQWHDFWLYLWLLRSHUDLRQDOHUH]XOWDWH
din:
 YvQ]DUHDPDWHULDOHORU 11 270 lei;
 vQUHJLVWUDUHDOLSVXULORUGHPUIXULFRQVWDWDWHODLQYHQWDULHUH 7 200 lei;
 UHVWDELOLUHDGDWRULLORUIDGHIXUQL]RULGHFRQWDWHDQWHULRUvQOHJWXUFXH[SLUDUHDWHUPHQXOXLGH
SUHVFULSLH 5 645 lei;
 FDOFXODUHDSHQDOLWLORUSHQWUXQHUHVSHFWDUHDWHUPHQHORUGHOLYUDUHDPUIXULORU 450 lei.
&RQIRUP GDWHORU GLQ H[HPSOX HQWLWDWHD UHIOHFW vQ UG  $OWH FKHOWXLHOL GLQ DFWLYLWDWHD
RSHUDLRQDOGLQVLWXDLDGHSURILWLSLHUGHUHSHQWUXDQXO;VXPDGHOHL OHL
lei OHLOHL 
 Q UvQGXO  5H]XOWDWXO GLQ DFWLYLWDWHD RSHUDLRQDO SURILW SLHUGHUH  VH UHIOHFW GLIHUHQD
GLQWUH YHQLWXULOH L FKHOWXLHOLOH GLQ DFWLYLWDWHD RSHUDLRQDO GLQ SHULRDGD GH JHVWLXQH GHWHUPLQDW SULQ
UHODLDUGUGUGUGUG
 Q UvQGXO  5H]XOWDWXO GLQ DOWH DFWLYLWL SURILW SLHUGHUH  VH UHIOHFW GLIHUHQD GLQWUH
YHQLWXULOHLFKHOWXLHOLOHGLQDOWHDFWLYLWLGLQSHULRDGDGHJHVWLXQH
9HQLWXULOHGLQDOWHDFWLYLWLFXSULQGYHQLWXULOHaferente DFWLYHORULPRELOL]DWHFXH[FHSLDSOXVXULORU
GHDFWLYHFRQVWDWDWHODLQYHQWDULHUHGLYLGHQGHLVDXSDUWLFLSDLLvQDOWHHQWLWL (FXH[FHSLDFHORULQGLFDWH
vQ UvQGXO   GREvQ]L FX H[FHSLD FHORU LQGLFDWH vQ UvQGXO   GLIHUHQH IDYRUDELOH GH FXUV YDOXWDU
LQWUDUHD DFWLYHORU FX WLWOX JUDWXLW UHOXDUHD SLHUGHULORU GLQ GHSUHFLHUH FRPSHQVDLL SHQWUX DFRSHULUHD
SLHUGHULORUH[FHSLRQDOHDOWHIDSWHHFRQRPLFHFDUHQXVHUHIHUODDFWLYLWDWHDRSHUDLRQDO
&KHOWXLHOLOH DOWor DFWLYLWL FXSULQG FKHOWXLHOLOH DIHUHQWH DFWLYHORU LPRELOL]DWH FKHOWXLHOLOH
ILQDQFLDUHLH[FHSLRQDOHGHWHUPLQDWHvQFRQIRUPLWDWHFX61&&KHOWXLHOL
 Q UvQGXO  3URILW SLHUGHUH  SvQ OD LPSR]LWDUH VH LQGLF UH]XOWDWXO ILQDQFLDU SvQ OD
LPSR]LWDUHGHWHUPLQDWSULQUHODLDUGUG
 QUvQGXO&KHOWXLHOLSULYLQGLPSR]LWXOSHYHQLWVHUHIOHFWFKHOWXLHOLOH SULYLQGLPSR]LWXO
SHYHQLWGHWHUPLQDWHvQFRQIRUPLWDWHFX61&&KHOWXLHOL
 QUvQGXO3URILWQHW SLHUGHUHQHW DOSHULRDGHLGHJHVWLXQHVHLQGLFUH]XOWDWXOILQDQFLDU
GXS LPSR]LWDUH GHWHUPLQDW FD GLIHUHQD GLQWUH SURILWXO SLHUGHUHD  SvQ la imSR]LWDUH L FKHOWXLHOLOH
SULYLQGLPSR]LWXOSHYHQLWSULQUHODLDUG  UG$FHVWLQGLFDWRUWUHEXLHVFRLQFLGFXLQGLFDWRUXO
UHVSHFWLYUvQGXOXLGLQELODQ



6LWXDLDPRGLILFULORUFDSLWDOXOXLSURSULX
 6LWXDLD PRGLILFULORU FDSLWDOXOXL SURSULX FDUDFWHUL]HD] H[LVWHQD L PRGLILFDUHD HOHPHQWHORU
FDSLWDOXOXLSURSULXvQFXUVXOSHULRDGHLGHJHVWLXQHLFRQLQHLQIRUPDLLSULYLQG
 FDSLWDOXO VRFLDO L VXSOLPHQWDU  FDSLWDOXO VRFLDO FDSLWDOXO VXSOLPHQWDU FDSLWDOXO QHYUVDW
FDSLWDOXOQHvQUHJLVWUDW LFDSLWDOXOUHWUDV
 rezervele FDSLWDOXOGHUH]HUYUH]HUYHOHVWDWXWDUHLDOWHUH]HUYH
 SURILWXOQHUHSDUWL]DW SLHUGHUHDQHDFRSHULW FRUHFLLOHUH]XOWDWHORUDQLORUSUHFHGHQLSURILWXO
QHUHSDUWL]DW SLHUGHUHD QHDFRSHULW  DO DQLORU SUHFHGHQL SURILWXO QHW SLHUGHUHD QHW  DO SHULRDGHL GH
JHVWLXQH SURILWXO XWLOL]DW DO SHULRDGHL GH JHVWLXQH L UH]XOWDWXO GLQ WUDQ]LLD OD QRLOH UHJOHPHQWUL
FRQWDELOH
 DOWHHOHPHQWHGHFDSLWDOSURSULXFDUHQXVHLQFOXGvQVXESFW  
 (OHPHQWHOH FDSLWDOXOXL SURSULX VH GHWHUPLQ vQ FRQIRUPLWDWH FX 61& &DSLWDO SURSULX L
GDWRULL
 QVLWXDLDPRGLILFULORUFDSLWDOXOXLSURSULXSHQWUXILHFDUHHOHPHQWVHLQGLFVROGXOODvQFHSXWXO
SHULRDGHLGHJHVWLXQHPDMRUULOHLGLPLQXULOHSHSDUFXUVXOSHULRDGHLLVROGXOODVIvULWXOSHULRDGHLGH
JHVWLXQHFDUHVHGHWHUPLQSULQUHODLD
6ROGODVIvULWXO
SHULRDGHLGHJHVWLXQH

6ROGODvQFHSXWXO
SHULRDGHLGH
JHVWLXQH

0DMRUULOH

'LPLQXULOH

 6ROGXULOHODvQFHSXWXOSHULRDGHLGHJHVWLXQHDIHUHQWHFRUHFLLORUUH]XOWDWHORUDQLORUSUHFHGHQL
SURILWXOXL QHW SLHUGHULL QHWH  DO SHULRDGHL GH JHVWLXQH L SURILWXOXL XWLOL]DW DO SHULRDGHL GH JHVWLXQH
vQWRWGHDXQDVvQWHJDOHFX]HURFDXUPDUHDUHIRUPULLELODQXOXLSHQWUXSHULRDGDGHJHVWLXQHSUHFHGHQW
 6ROGXULOH HOHPHQWHORU FDSLWDOXOXL SURSULX OD vQFHSXWXO L VIvULWXO SHULRDGHL GH JHVWLXQH
SUH]HQWDWH vQ VLWXDLD PRGLILFULORU FDSLWDOXOXL SURSULX WUHEXLH V ILH LGHQWLFH VROGXULORU HOHPHQWHORU
UHVSHFWLYHGLQELODQ
 0ULPHD HOHPHQWHORU FDUH PDMRUHD] FDSLWDOXO SURSULX FXP DU IL FDSLWDOXO VRFLDO FDSLWDOXO
QHvQUHJLVWUDW UH]HUYHOH SURILWXO QHW DO SHULRDGHL GH JHVWLXQH VH UHIOHFW vQ VLWXDLD PRGLILFULORU
FDSLWDOXOXL SURSULX vQ PRG RELQXLW IU SDUDQWH]H  0ULPHD HOHPHQWHORU FDUH GLPLQXHD] FDSLWDOXO
SURSULXFXPDUILFDSLWDOXO QHYUVDWFDSLWDOXOUHWUDVSURILWXOXWLOL]DWDOSHULRDGHLGHJHVWLXQHSLHUGHUHD
QHW D SHULRDGHL GH JHVWLXQH VH UHIOHFW vQ VLWXDLD PRGLILFULORU FDSLWDOXOXL SURSULX FX VHPQXO PLQXV
vQWUHSDUDQWH]H 
 6LWXDLD PRGLILFULORU FDSLWDOXOXL SURSULX VH vQWRFPHWH FRQIRUP IRUPXODUXOXL SUH]HQWDW vQ
DQH[D
 Q UvQGXO  &DSLWDO VRFLDO VH LQGLF VROGXULOH L PRGLILFULOH SULORU VRFLDOH DFLXQLORU
SURSULL HPLVH VDX DOWRU LQVWUXPHQWH GH FDSLWDO SURSULX la valoarea LQGLFDW vQ DFWHOH GH FRQVWLWXLUH DOH
entiWLLLVDXDOWHGRFXPHQWHvQUHJLVWUDWHvQPRGXOVWDELOLWGHOHJLVODLH
Exemplul 8. 2VRFLHWDWHFXUVSXQGHUHDOLPLWDWFDSLWDOXOVRFLDODOFUHLDODvQFHSXWXODQXOXLD
constituit 10  OHL D HIHFWXDW vQ FXUVXO DQXOXL ; XUPWRDUHOH RSHUDLXQL HFRQRPLFH vQ LDQXDULH
;DIRVWPLFRUDWFDSLWDOXOVRFLDOFX OHLSULQVWLQJHUHDSULLVRFLDOHFDUHDIRVWGREvQGLWGH
VRFLHWDWHGHODDVRFLDWXOVXLQXDIRVWvQVWULQDWvQWHUPHQGHOXQLGLQGDWDGREvQGLULLvQDSULOLH
201X capitalul social a fost majorat cu 18 OHLSULQPDMRUDUHDSURSRULRQDODSULORUVRFLDOHGLQ
FRQWXOSURILWXOXLDQLORUSUHFHGHQL
QED]DGDWHORUGLQH[HPSOX HQWLWDWHDUHIOHFWvQUG&DSLWDOVRFLDOGLQVLWXDLDPRGLILFULORU
FDSLWDOXOXLSURSULX SHDQXO;
 vQFROVROGXOFDSLWDOXOXLVRFLDOODvQFHSXWXOSHULRDGHLGHJHVWLXQHvQVXPGH OHL
 vQFROPDMRUDUHDFDSLWDOXOXLVRFLDOvQVXPDGH OHL
 vQFROGLPLQXDUHDFDSLWDOXOXLVRFLDOvQVXPDGH OHL
 vQ FRO   VROGXO FDSLWDOXOXL VRFLDO OD VIvULWXO SHULRDGHL GH JHVWLXQH vQ VXP GH   OHL
 OHL OHL OHL 
 QUvQGXO&DSLWDOVXSOLPHQWDUVHUHIOHFWVROGXULOHLPRGLILFULOHDIHUHQWH



 SULPHORU GH HPLVLXQH FDUH UHSUH]LQW GLIHUHQHOH GLQWUH YDORDUHD DSRUWXUilor proprietarilor n
FDSLWDOXOVRFLDODOHQWLWLLLYDORDUHDQRPLQDODSULORUVRFLDOH DFLXQLORUDOWRULQVWUXPHQWHGHFDSLWDO
SURSULX 
 GLIHUHQHORU GLQWUH YDORDUHD GH UHWUDJHUH L YDORDUHD QRPLQDO VDX GH vQVWULQDUH D SULORU
VRFLDOH DFLXQLORU SURSULLUHWUDVHLXOWHULRUDQXODWHVDXvQVWULQDWH
Exemplul 9. /D vQILLQDUHD XQHL VRFLHWL SH DFLXQL DX IRVW SODVDWH   GH DFLXQL VLPSOH FX
YDORDUHDQRPLQDOGHOHLDFLXQHODSUHGHOHLDFLXQH
n baza datelor din exemplu, entitatea rHIOHFWvQVLWXDLDPRGLILFULORUFDSLWDOXOXLSURSULX
 vQ UG  &DSLWDO VRFLDO PDMRUDUHD FDSLWDOXOXL VRFLDO FRO   L VROGXO DFHVWXLD OD VIvULWXO
SHULRDGHLGHJHVWLXQH FRO vQVXPGH OHL  DFLXQL[OHL 
 vQUG&DSLWDOVXSOLPHQWDUPDMRUDUHDFDSLWDOXOXLVXSOLPHQWDU FRO LVROGXODFHVWXLDOD
VIvULWXOSHULRDGHLGHJHVWLXQH FRO vQVXPDGH OHL  DFLXQL[OHL 
 QUvQGXO&DSLWDOQHYUVDWVHvQVFULXvQWUHSDUDQWH]HVROGXULOHLPRGLILFULOHFUHDQHOor
SURSULHWDULORUDIHUHQWH
 DSRUWXULORUvQFDSLWDOXOVRFLDO
 FRQWULEXLLORUVXSOLPHQWDUHSHQWUXDFRSHULUHDSLHUGHULORUDQLORUSUHFHGHQL
 Q UvQGXO  &DSLWDO QHvQUHJLVWUDW VH LQGLF VROGXULOH L PRGLILFULOH FDSLWDOXOXL
QHvQUHJLVWUDWODYDORDUHDQRPLQDOD
 DFLXQLORU HPLVH OD vQILLQDUHD VRFLHWLL SH DFLXQL FDUH vQF QX DX IRVW vQUHJLVWUDWH vQ PRGXO
VWDELOLWGHOHJLVODLH
 SULORU VRFLDOH DFLXQLORU DOWRU LQVWUXPHQWH GH FDSLWDO SURSULX  DIHUHQWH PDMRUULL FDSLWDOXOXL
VRFLDOSvQODvQUHJLVWUDUHD GHVWDWDPRGLILFULORULQWURGXVHvQDFWHOHGHFRQVWLWXLUHDOHHQWLWLL
Exemplul 10. La 10.12.;DVRFLDLLXQHLVRFLHWLFXUVSXQGHUHOLPLWDWDXGHFLVVPDMRUH]H
capitalul social de la 5 OHLSvQOD OHL/D;DVRFLDLLDXGHSXV suma de 22 600 lei
vQFRQWXOPDMRUULLSULLVRFLDOH/D;DIRVWHIHFWXDWvQUHJLVWUDUHDGHVWDWDPRGLILFULL
FDSLWDOXOXLVRFLDODOVRFLHWLL
Q ED]D GDWHORU GLQ H[HPSOX VRFLHWDWHD UHIOHFW vQ UG  &DSLWDO QHvQUHJLVWUDW GLQ VLWXDLD
PRGLILFULORUFDSLWDOXOXLSURSULXSHDQXO;
 vQFROPDMRUDUHDFDSLWDOXOXLQHvQUHJLVWUDWvQVXPDGHOHL
 vQFROVROGXOFDSLWDOXOXLQHvQUHJLVWUDWODVIvULWXOSHULRDGHLGHJHVWLXQHvQVXPGH 
OHL
 Q UvQGXO  &DSLWDO UHWUDV VH UHIOHFW vQWUH SDUDQWH]H VROGXULOH L PRGLILFULOH SULORU
VRFLDOH DFLXQLORU DOWRU LQVWUXPHQWH GH FDSLWDO SURSULX  DFKL]LLRQDWH UVFXPSUDWH VDX GREvQGLWH GH
HQWLWDWHGHODSURSULHWDULLVL
Exemplul 11. 2 VRFLHWDWH SH DFLXQL vQ DXJXVW ; D UVFXPSUDW GH OD DFLRQDUL  DFLXQL
SURSULLODSUHGHOHLDFLXQHGLQFDUHDFLXQLDXIRVWUHYvQGXWHvQQRLHPEULHDDFHOXLDLDQOD
SUHGHOHLDFLXQH
n baza datelor din exemplu, HQWLWDWHDUHIOHFWvQVLWXDLDPRGLILFULORUFDSLWDOXOXLSURSUiu SHDQXO
;
x vQUG&DSLWDOUHWUDVvQWUHSDUDQWH]H
 vQFROPDMRUDUHDFDSLWDOXOXLUHWUDVvQVXPDGHOHL DFLXQL[OHL 
 vQFROGLPLQXDUHDFDSLWDOXOXLUHWUDVvQVXPDGHOHL DFLXQL[OHL 
 vQFROVROGXOFDSLWDOXOXLUHWUDVODVIvULWXOSHULRDGHLGHJHVWLXQHvQVXPGHOHL 
OHL OHL 
x vQUG&DSLWDOVXSOLPHQWDU
 vQFROPDMRUDUHDFDSLWDOXOXLVXSOLPHQWDUvQVXPDGH OHL>DFLXQL[ OHL
OHL @
 vQFROsoldul capitalului suplimentar n suma de  OHL
 Q UvQGXO  7RWDO FDSLWDO VRFLDO L VXSOLPHQWDU VH LQGLF WRWDOXO GHWHUPLQDW SULQ UHODLD
UGUGUGUG+UG
 Q UvQGXO  &DSLWDO GH UH]HUY VH vQVFULX VROGXULOH L PRGLILFULOH UH]HUYHORU D FURU
FRQVWLWXLUHHVWHSUHY]XWGHOHJLVODLDvQYLJRDUH
Exemplul 12. 6ROGXO FDSLWDOXOXL GH UH]HUY D XQHL VRFLHWL FX UVSXQGHUH OLPLWDW OD vQFHSXWXO
DQXOXL ; D FRQVWLWXLW   OHL Q IHEUXDULH ; HQWLWDWHD D GHIDOFDW vQ FDSLWDOXO GH UH]HUY



profitul net al anului 201X-vQVXPGHOHLQVHSWHPEULH;SHVHDPDFDSLWDOXOXLGHUH]HUYD


fost majorat capitalXOVRFLDODOVRFLHWLLFX OHLvQUHJLVWUDUHDGHVWDWDPRGLILFULLUHVSHFWLYHD
IRVWHIHFWXDWvQDFHHDLOXQ
Q ED]D GDWHORU GLQ H[HPSOX VRFLHWDWHD UHIOHFW vQ UG  &DSLWDO GH UH]HUY GLQ VLWXDLD
PRGLILFULORUFDSLWDOXOXLSURSULXSHDQXO;
 vQFROVROGXOFDSLWDOXOXLGHUH]HUYODvQFHSXWXOSHULRDGHLGHJHVWLXQHvQVXPGH OHL
 vQFROPDMRUDUHDFDSLWDOXOXLGHUH]HUYFX OHL
 vQFROGLPLQXDUHDFDSLWDOXOXLGHUH]HUYFXOHL
 vQFROVROGXOFDSLWDOXOXLGHUH]HUYODVIvULWXOSHULRDGHLGHJHVWLXQHvQVXPGH OHL
 OHL OHL OHL 
 QUvQGXO5H]HUYHVWDWXWDUHVHLQGLFVROGXULOHLPRGLILFULOHUH]HUYHORUFRQVWLWXLWHvQ
FRQIRUPLWDWH FX VWDWXWXO HQWLWLL FX H[FHSLD UH]HUYHORU LQGLFDWH vQ UG  GLQ VLWXDLD PRGLILFULORU
FDSLWDOXOXLSURSULX
 Q UvQGXO  $OWH UH]HUYH VH LQGLF VROGXULOH L PRGLILFULOH UH]HUYHORU FRQVWLWXLWH vQ
FRQIRUPLWDWHFXGHFL]LDRUJDQXOXLGHFRQGXFHUHvPSXWHUQLFLWDOHQWLWLL FXH[FHSLDUH]HUYHORULQGLFDWH
vQUGLGLQVLWXDLDPRGLILFULORUFDSLWDOXOXLSURSULX
 QUvQGXOTotal UH]HUYH VH vQVFULH totalul determinat SULQUHODLDUGUGUG
 QUvQGXO&RUHFLLDOHUH]XOWDWHORUDQLORUSUHFHGHQLVHUHIOHFWVROGXULOHLPRGLILFULOH
VXPHLSURILWXOXL SLHUGHULL UH]XOWDW H GLQFRUHFWDUHDHURULORUFRPLVHvQDQLLSUHFHGHQLFDUHVHGHWHUPLQ
vQ FRQIRUPLWDWH FX 61& 3ROLWLFL FRQWDELOH PRGLILFUL DOH HVWLPULORU FRQWDELOH HURUL L HYHQLPHQWH
XOWHULRDUH
 Q UvQGXO  3URILW QHUHSDUWL]DW SLHUGHUH QHDFRSHULW  DO DQLORU SUHFHGHQL VH vQVFULH
VROGXULOH L PRGLILFULOH SURILWXOXL QHUHSDUWL]DW SLHUGHULL QHDFRSHULWH  DO DQLORU SUHFHGHQL 6ROGXO OD
vQFHSXWXO SHULRDGHL GH JHVWLXQH VH GHWHUPLQ GXS UHIRUPDUHD ELODQXOXL SH DQXO SUHFHGHQW vQ
FRQIRUPLWDWHFXSFW GLQSUH]HQWXOVWDQGDUG
 QUvQGXO3URILWQHW SLHUGHUHQHW Dl SHULRDGHLGHJHVWLXQHVHLQGLFvQPRGRELQXLW
SURILWXOQHWVDXvQWUHSDUDQWH]HSLHUGHUHDQHWDSHULRDGHLGHJHVWLXQHFXUHQWH
 Q UvQGXO  3URILW XWLOL]DW DO SHULRDGHL GH JHVWLXQH VH LQGLF vQWUH SDUDQWH]H SURILWXO
DQXOXLGHJHVWLXQHXWLOL]DW vQFXUVXODFHVWXLDQFRQIRUPGHFL]LHLRUJDQXOXLGHFRQGXFHUHvPSXWHUQLFLWDO
HQWLWLLLDUvQ UvQGXO 5H]XOWDWXOGLQ WUDQ]LLDODQRLOH UHJOHPHQWULFRQWDELOHVHLQGLFUH]XOWDWXO
ILQDQFLDUFRQVWDWDWGLQWUDQ]LLDODQRLOHUHJOHPHQWULFRQWDELOH
 n UvQGXO7RWDOSURILWQHUHSDUWL]DW SLHUGHUHQHDFRSHULW VHvQVFULHWRWDOul determinat
SULQUHODLDUGUGUGUGUG
 QUvQGXO $OWHHOHPHQWHGHFDSLWDO SURSULX VHUHIOHFWVROGXULOHL PRGLILFULOHVXPHL
totale a elementelor FDSLWDOXOXL SURSULX FDUH QX DX IRVW LQFOXVH vQ UvQGXULOH    GLQ VLWXDLD
PRGLILFULORUFDSLWDOXOXLSURSULX
 Q UvQGXO  'LIHUHQH GLQ UHHYDOXDUH VH LQGLF VROGXULOH L PRGLILFULOH GLIHUHQHORU GH
UHHYDOXDUHDDFWLYHORULPRELOL]DWHSHQWUXHQWLWLOHFDUHDSOLFPRGHOXOUHHYDOXULLFRQIRUP,)56
 QUvQGXO6XEYHQLLHQWLWLORUFXSURSULHWDWHSXEOLFVHLQGLFVROGXULOHLPRGLILFULOH
VXEYHQLLORUSULPLWHGH HQWLWLOe GHVWDW PXQLFLSDOHLDOWHHQWLWLVLPLODUHLQFOXVLYLQVWLWXLLOHSXblice
FX DXWRQRPLH ILQDQFLDU de la RUJDQHOH DXWRULWLORU SXEOLFH WUHFXWH vQ FDSLWDOXO SURSULX GXS
vQGHSOLQLUHDFRQGLLLORUFRQWUDFWXDOH vQFRQIRUPLWDWHFX61&&DSLWDOSURSULXLGDWRULL
 Q UvQGXO  7RWDO FDSLWDO SURSULX VH vQVFULH WRWDOXO HOHPHQWHORU GH FDSLWDO SURSULX
GHWHUPLQDWSULQUHODLDUGUGUGUG
6LWXDLDIOX[XULORUGHQXPHUDU
*HQHUDOLWL
 6LWXDLD IOX[XULORU GH QXPHUDU FDUDFWHUL]HD] VROGXULOH L IOX[XULOH GH QXPHUDU SHQWUX
SHULRDGDGHJHVWLXQHLFRQLQHLQIRUPDLL SULYLQG
 numerarul QXPHUDUvQPRQHGQDLRQDOLYDOXWVWULQvQFDVLHULHLFRQWXULFXUHQWH
 QXPHUDUXOvQH[SHGLLH QXPHUDUXOGHSXVvQFDVLHULLOHEQFLORURILFLLORUSRWDOHVDXWUDQVPLVH
vQFDVDWRULORU SHQWUX vQUHJLVWUDUHD XOWHULRDU D DFHVWRUD vQ FRQWXULOH FXUHQWH DOH HQWLWLL VDX SHQWUX
WUDQVPLWHUHDFWUHEHQHILFLDUL



 GRFXPHQWHOH EQHWL WLPEUHOH WD[HL GH VWDW PUFLOH SRWDOH ELOHWHOH GH FOWRULH DFKLWDWH
ELOHWHOHGHWUDWDPHQWLRGLKQDFKLWDWHHWF
 QVLWXDLDIOX[XULORUGHQXPHUDUQXVHUHIOHFW
 PLFDUHD LQWHUQ D QXPHUDUXOXL GH H[HPSOX ULGLFULOH vQ QXPHUDU GH OD FRQWXULOH FXUHQWH
GHVFKLGHUHDDFUHGLWLYXOXLDOLPHQWDUHDFDUGXULORUEDQFDUHDOHHQWLWLLWUDQVIHUDUHDQXPHUDUXOXLGHODXQ
FRQWFXUHQWODDOWXOSURFXUDUHDYvQ]DUHDYDOXWHLVWULQH 
 WUDQ]DFLLOHSHED]GHEDUWHU VFKLPEGHDFWLYHVHUYLFLL 
 FRQYHUWLUHDGDWRULLORUvQFDSLWDOVRFLDO
 DPRUWL]DUHDLSLHUGHULOHGLQGHSUHFLHUHDDFWLYHORULPRELOL]DWHHWF
 6LWXDLDIOX[XULORUGHQXPHUDUVHvQWRFPHWHvQED]DFRQWDELOLWLLGH FDVFRQIRUPFUHLD
 LQWUULOHGHQXPHUDUVvQWUHIOHFWDWHODVXPHOHHIHFWLYvQFDVDWHvQFDVLHULHLFRQWXULFXUHQWH
 LHLULOHEQHWL ODVXPHOHHIHFWLYDFKLWDWHGLQFDVLHULHLFRQWXULFXUHQWH
 docXPHQWHOHEQHWL la valoarea documenteORUEQHWL efeFWLYLQWUDWHLLHLWH
 6LWXDLDIOX[XULORUGHQXPHUDUVHvQWRFPHWHFRQIRUPPHWRGHLGLUHFWHSRWULYLWFUHLDLQWUULOH
LLHLULOHGHQXPHUDUVHGHWHUPLQvQED]DGDWHORUGLQFRQWXULOHGHHYLGHQDQXPHUDUXOXL
 (OHPHQWHOHVLWXDLHLIOX[XULORUGHQXPHUDU VvQWGLYL]DWHVHSDUDWSHDFWLYLWLOHRSHUDLRQDOGH
LQYHVWLLLLILQDQFLDUFXSUH]HQWDUHDGLVWLQFWDGLIHUHQHORUGHFXUVYDOXWDU
 6LWXDLDIOX[XULORUGHQXPHUDUVHvQWRFPHWHFRQIRUPIRUPXODUXOXLSUH]HQWDWvQDQH[D


Fluxuri de numerar din activLWDWHDRSHUDLRQDO


 Q UvQGXO  QFDVUL GLQ YvQ]UL VH UHIOHFW QXPHUDUXO vQFDVDW LQFOXVLY DIHUHQW
LPSR]LWHORULQGLUHFWH
 GHODFXPSUWRUL FOLHQL SHQWUXSURGXVHOHPUIXULOHYvQGXWHLVDXVHUYLFLLOHSUHVWDWHOXFUULOH
H[HFXWDWH
 GH OD ORFDWDUL SHQWUX DFWLYHOH WUDQVPLVH vQ OHDVLQJ RSHUDLRQDO L ILQDQFLDU DUHQG ORFDLXQH 
SUHFXPLGREvQGDDIHUHQWOHDVLQJXOXLILQDQFLDU
 VXE IRUP GH DYDQVXUL SULPLWH vQ FRQWXO OLYUULL XOWHULRDUH D SURGXVHORUPUIXULORU LVDX
VHUYLFLLORU
 Q UvQGXO  3OL SHQWUX VWRFXUL L VHUYLFLL SURFXUDWH VH UHIOHFW SOLOH GH QXPHUDU
LQFOXVLYDIHUHQWLPSR]LWHORULQGLUHFWHDFKLWDWH
 IXUQL]RULORUDQWUHSUHQRULORUSHQWUXVWRFXULOHLVHUYLFLLOHSURFXUDWH
 ORFDWRULORU SHQWUX DFWLYHOH SULPLWH vQ OHDVLQJ RSHUDLRQDO L ILQDQFLDU DUHQGD ORFDLXQH  FX
H[FHSLDGREvQ]LORU
 VXEIRUPGHDYDQVXULDFRUGDWHvQFRQWXOSURFXUULLXOWHULRDUHGHVWRFXULLVHUYLFLL
 Q UvQGXO  3OL FWUH DQJDMDL L RUJDQH GH DVLJXUDUH VRFLDO L PHGLFDO VH UHIOHFW
QXPHUDUXOSOWLW
 VDODULDLORUvQFRQWXOUHWULEXLULLPXQFLLLDOWRURSHUDLL FXH[FHSLDvPSUXPXWXULORUDFRUGDWHL
GLYLGHQGHORUSOWLWH 
 RUJDQHORU GH DVLJXUDUH VRFLDO L PHGLFDO SULYLQG FRQWULEXLLOH GH DVLJXUUL VRFLDOH GH VWDW
REOLJDWRULLLSULPHOHGHDVLJXUDUHREOLJDWRULHGHDVLVWHQPHGLFDODOHDQJDMDWRULORULDQJDMDLORU
 QUvQGXO'REvQ]LSOWLWHVHUHIOHFWGREvQ]LOHSOWLWHvQSHULRDGDGHJHVWLXQHSHQWUX
 FUHGLWH L vPSUXPXWXUL SULPLWH LQGLIHUHQW GH IDSWXO GDF DFHVWHD DX IRVW UHFXQRVFXWH FD
FKHOWXLHOLFXUHQWHVDXFDSLWDOL]DWHvQFRQIRUPLWDWHFX61&&RVWXULOHvQGDWRUULL
 DFWLYHOHSULPLWHvQOHDVLQJILQDQFLDU
 REOLJDLXQLFDPELLLDOWHWLWOXULGHGDWRULL
 Q UvQGXO  3ODWD LPSR]LWXOXL SH YHQLW VH UHIOHFW SOLOH GH QXPHUDU DFKLWDWH OD EXJHW
aferHQWHLPSR]LWXOXLSHYHQLWGLQDFWLYLWDWHDGHvQWUHSULQ]WRULQFOXVLYSOLOHDFHVWXLLPSR]LWvQUDWH
 Q UvQGXO  $OWH vQFDVUL VH UHIOHFW VXPHOH vQFDVULORU GH QXPHUDU UH]XOWDWH GLQ
DFWLYLWDWHDRSHUDLRQDOFDUHQXVvQWLQFOXVHvQUvQGXO$FHVWHDLQFOXGvQFDVULvQQXPHUDU
 GLQYvQ]DUHDDOWRUDFWLYHFLUFXODQWH
 VXEIRUPGHDPHQ]LSHQDOLWLLDOWHVDQFLXQL
 GLQRQRUDULLLFRPLVLRDQH
 VXEIRUPGHDYDQVXULUHWXUQDWHGHFWUHWLWXODULLGHDYDQV
 VXEIRUPGHILQDQULLvQFDVULFXGHVWLQDLHVSHFLDO



 VXEIRUPGHVXEYHQLLSULPHLVSRQVRUL]UL
 GLQUHGHYHQHOHDIHUHQWHDFWLYLWLLRSHUDLRQDOH
 VXEIRUPGHGRFXPHQWHEQHWLSURFXUDWHFXDFKLWDUHDXOWHULRDUDDFHVWRUD
 GLQ UHFXSHUDUHD SUHMXGLFLXOXL PDWHULDO FDX]DW HQWLWLL FX H[FHSLD SUHMXGLFLXOXL UH]XOWDW GLQ
HYHQLPHQWHH[FHSLRQDOH HWF
 QUvQGXO$OWHSOLVHUHIOHFWVXPHOHDOWRUSOLGHQXPHUDUUH]XOWDWHGLQDFWLYLWDWHD
RSHUDLRQDOFDUHQXVvQWLQFOXVHvQUvQGXULOH$FHVWHDLQFOXGSOLvQQXPHUDU
 VXEIRUP GHDPHQ]LSHQDOLWLLDOWHVDQFLXQL
 VXEIRUPGHDYDQVXULDFRUGDWHWLWXODULORUGHDYDQV
 DIHUHQWH DFKLWULL LPSR]LWXOXL SH YHQLW D SHUVRDQHORU IL]LFH WD[HL SH YDORDUHD DGXJDW
DFFL]HORUDOWRULPSR]LWHLWD[HSUHFXPLVDQFLXQLORUSHQWUXvQFOFDUHDOHJLVODLHLvQYLJRDUH
 VXE IRUP GH GRFXPHQWH EQHWL XWLOL]DWH vQ SHULRDGD GH JHVWLXQH FX DFKLWDUHD XOWHULRDU D
DFHVWRUD
 VXEIRUPGHUHGHYHQHDIHUHQWHDFWLYLWLLRSHUDLRQDOHHWF
 QUvQGXO)OX[XOQHWGHQXPHUDUGLQDFWLYLWDWHDRSHUDLRQDOVHUHIOHFWGLIHUHQDGLQWUH
QXPHUDUXOvQFDVDWLSOWLWvQFXUVXOSHULRDGHLGHJHVWLXQHGLQDFWLYLWDWHDRSHUDLRQDOGHWHUPLQDWSULQ
UHODLDUGUGUGrGUGUGUG
)OX[XULGHQXPHUDUGLQDFWLYLWDWHDGHLQYHVWLLL
 Q UvQGXO  QFDVUL GLQ YvQ]DUHD DFWLYHORU LPRELOL]DWH VH UHIOHFW QXPHUDUXO vQFDVDW vQ
SHULRDGD GH JHVWLXQH SHQWUX DFWLYHOH LPRELOL]DWH YvQGXWH SUHFXP L VXPD DYDQVXULORU SULPLWH SHQWUX
YvQ]DUHDXOWHULRDUDDFHVWRUDFWLYH
 Q UvQGXO  3OL DIHUHQWH LQWUULORU GH DFWLYH LPRELOL]DWH VH UHIOHFW QXPHUDUXO SOWLW
SHQWUX DFKL]LLRQDUHD LVDX FUHDUHD DFWLYHORU LPRELOL]DWH SUHFXP L DYDQVXULOH DFRUGDWH SHQWUX
SURFXUDUHDDFHVWRUD
 Q UvQGXO   'REvQ]L vQFDVDWH VH UHIOHFW GREvQ]LOH SULPLWH VXE IRUP GH numerar din
vPSUXPXWXULDFRUGDWHFRQWXULGHGHSR]LWLDOWHLQYHVWLLLILQDQFLDUHFXH[FHSLDGREvQ]LORUvQUHJLVWUDWH
vQUvQGXO
 Q UvQGXO  'LYLGHQGH vQFDVDWH VH UHIOHFW VXPHOH GLYLGHQGHORU vQFDVDWH GLQ FRWHOH GH
SDUWLFLSDLH DFLXQL vQFDSLtalul VRFLDODDOWRUHQWLWL
 Q UvQGXO  $OWH vQFDVUL SOL  VH UHIOHFW GLIHUHQD GLQWUH vQFDVULOH L SOLOH de
QXPHUDUUH]XOWDWHGLQDFWLYLWDWHDGHLQYHVWLLLFDUHQXVvQWLQFOXVHvQUvQGXULOH
 QUvQGXO)OX[XOQHWGHQXPHUDUGLQDFWLYLWDWHDGHLQYHVWLLLVHUHIOHFWGLIHUHQDGLQWUH
QXPHUDUXOvQFDVDWLSOWLWvQFXUVXOSHULRDGHLGHJHVWLXQHGLQ DFWLYLWDWHDGHLQYHVWLLLGHWHUPLQDWSULQ
UHODLDUG UGUGUGUG
Fluxuri de numerar din activitatea finDQFLDU
 Q UvQGXO  QFDVUL VXE IRUP GH FUHGLWH L vPSUXPXWXUL VH UHIOHFW vQFDVULOH de
QXPHUDU VXE IRUP GH FUHGLWH L vPSUXPXWXUL LQFOXVLY GLQ SODVDUHD REOLJDLXQLORU SURSULL FDPELLORU L
DOWRUWLWOXULGHGDWRULL
 QUvQGXO3OLDIHUHQWHUDPEXUVULLFUHGLWHORULvPSUXPXWXULORUVHUHIOHFWSOLOH de
QXPHUDUvQFRQWXOUDPEXUVULLFUHGLWHORULvPSUXPXWXULORU FXH[FHSLDGREvQ]LORU DFKLWULLWLWOXULORUGH
GDWRULLHWF
 QUvQGXO'LYLGHQGHSOWLWHVHUHIOHFWVXPHOHGLYLGHQGHORUSOWLWHSURSULHWDULORU
 Q UvQGXO  QFDVUL GLQ RSHUDLXQL GH FDSLWDO VH UHIOHFW vQFDVULOH GLQ HPLVLXQHD
DFLXQLORU SURSULL PDMRUDUHD SULORU VRFLDOH GLQ YvQ]DUHD FRWHORU GH SDULFLSDLH vQ FDSLWDOXO VRFLDO
DFLXQLORUSURSULL UVFXPSUDWHDQWHULRUGHODSURSULHWDUL
 QUvQGXO$OWHvQFDVUL SOL VHUHIOHFWGLIHUHQDGLQWUHvQFDVULOHLSOLOHGHQXPHUDU
UH]XOWDWHGLQDFWLYLWDWHDILQDQFLDUFDUHQXVvQWLQFOXVHvQUvQGXULOH$FHVWHDLQFOXG
 vQFDVULGHQXPHUDU
D VXEIRUPGHUHGHYHQHFXH[FHSLDFHORUvQUHJLVWUDWHvQUvQGXO
E GLQPRGLILFDUHDDOWRUHOHPHQWHDFDSLWDOXOXLSURSULX
F SHQWUXDFRSHULUHDSLHUGHULORUH[FHSLRQDOHHWF
 SOL LHLUL GHQXPHUDU



D VXEIRUPGHUHGHYHQHFXH[FHSLDFHORUvQUHJLVWUDWHvQUvQGXO
E afeUHQWHUVFXPSUULLFRWHORUGHSDUWLFLSDLLLDFLXQLORUSURSULLDOHHQWLWLL
F DIHUHQWHSLHUGHULORUGLQHYHQLPHQWHH[FHSLRQDOH GHH[HPSOXIXUWXULLH[SURSULHULGHQXPHUDU
LQFHQGLLLQXQGDLLSHUWXUEDLLSROLWLFHvQUH]XOWDWXOFURUDQXPHUDUXODIRVWGLVWUXV 
 QUvQGXO)OX[XOQHWGHQXPHUDUGLQ DFWLYLWDWHDILQDQFLDUVHUHIOHFWGLIHUHQDGLQWUH
QXPHUDUXO vQFDVDW L SOWLW LHLW  vQ SHULRDGD GH JHVWLXQH GLQ DFWLYLWDWHD ILQDQFLDU GHWHUPLQDW SULQ
UHODLD UG UG UGUGUG
 Q UvQGXO  )OX[XO QHW GH QXPHUDU WRWDO VH UHIOHFW IOX[XO GH QXPHUDU D SHULRDGHL GH
JHVWLXQHUH]XOWDWGLQDFWLYLWLOHRSHUDLRQDOGHLQYHVWLLLLILQDQFLDUGHWHUPLQDWSULQUHODLDOUG
UGUG
 QUvQGXO'LIHUHQHGH FXUVYDOXWDUIDYRUDELOH QHIDYRUDELOH VHUHIOHFWPULPHDQHWD
GLIHUHQHORUGHFXUVYDOXWDUIDYRUDELOHLQHIDYRUDELOHODGDWDUDSRUWULL
 Q UvQGXO  6ROG GH QXPHUDU OD vQFHSXWXO SHULRDGHL GH JHVWLXQH VH UHIOHFW VROGXO GH
QXPHUDUvQFRQWXULOHGH HYLGHQDPLMORDFHORULGRFXPHQWHORUEQHWLODvQFHSXWXOSHULRDGHLGHJHVWLXQH
FXUHQWH$FHVWDWUHEXLHVFRUHVSXQGFXWRWDOXOVROGXULORUQXPHUDUXOXLUHIOHFWDWHvQUvQGXULOHL
FROGLQELODQ
 Q UvQGXO  6ROG GH QXPHUDU OD VIvULWXO SHULRDGHL GH JHVWLXQH VH UHIOHFW VROGXO GH
QXPHUDUvQFRQWXULOHGHHYLGHQDPLMORDFHORULGRFXPHQWHORUEQHWLODVIvULWXOSHULRDGHLGHJHVWLXQH
FXUHQWH GHWHUPLQDW SULQ UHODLD  UG  UG  UG 6ROGXO RELQXW WUHEXLH V FRUHVSXQG FX
totalXOVROGXULORUQXPHUDUXOXLUHIOHFWDWHvQUvQGXULOHLFROGLQELODQ
 0RGXOGHvQWRFPLUHDVLWXDLHLIOX[XULORUGHQXPHUDUHVWHH[HPSOLILFDWvQDQH[D
 Q VFRSXO YHULILFULL FRUHFWLWXGLQLL FDOFXOXOXL IOX[XOXL QHW GH QXPHUDU GLQ DFWLYLWDWHD
RSHUDLRQDO HQWLWDWHD SRDWH XWLOL]D PHWRGD LQGLUHFW vQ FRQIRUPLWDWH FX ,$6  6LWXDLD IOX[XULORU GH
WUH]RUHULH
1RWHOHODVLWXDLLOHILQDQFLDUH
 1RWHOHODVLWXDLLOHILQDQFLDUHFXSULQGDQH[HOHLQRWDH[SOLFDWLY
 $QH[HOHFRQLQLQIRUPDLLFDUHGHWDOLD]HOHPHQWHOHVLWXDLLORUILQDQFLDUHLLQFOXG
 GDWHJHQHUDOH DQH[D 
 LQIRUPDLLOHFHUXWHGH6WDQGDUGHOH1DLRQDOHGH&RQWDELOLWDWH DQH[D 
 QRWDLQIRUPDWLYSULYLQGYHQLWXULOHLFKHOWXLHOLOHFODVLILFDWHGXSQDWXU DQH[D 
 QRWDLQIRUPDWLYSULYLQGUHODLLOHFXQHUH]LGHQLL DQH[D 
 1RWDH[SOLFDWLYFRQLQHLQIRUPDLLVXSOLPHQWDUHFDUHQXVvQWLQFOXVHvQVLWXDLLOHILQDQFLDUHL
vQDQH[HOHODDFHVWHD9ROXPXOVWUXFWXUDLIRUPDGHSUH]HQWDUHDQRWHLH[SOLFDWLYHVHVWDELOHVFGHFWUH
fiecare entitate GH VLQH VWWWRU vQ IXQFLH GH GLPHQVLXQHD IRUPD MXULGLF GH RUJDQL]DUH
GRPHQLXOSURILOXO GH DFWLYLWDWH D DFHVWHLD L QHFHVLWLOH LQIRUPDLRQDOH DOH XWLOL]DWRULORU VLWXDLLORU
ILQDQFLDUH
 3HOvQJLQIRUPDLLOHFHUXWHFRQIRUPSUHYHGHULORU/HJLLFRQWDELOLWLL6WDQGDUGHORU1DLRQDOH
GH&RQWDELOLWDWHLDOWRUDFWHQRUPDWLYH QRWDH[SOLFDWLYWUHEXLHVLQFOXGXUPWRDUHOHFRPSDUWLPHQWH
 LQIRUPDLLSULYLQGFRUHVSXQGHUHDVLWXDLLORUILQDQFLDUH6tandardelor 1DLRQDOHGH&RQWDELOLWDWH
 GH]YOXLUHDSROLWLFLORU FRQWDELOH
 DQDOL]DDFWLYLWLLHFRQRPLFRILQDQFLDUHDHQWLWLL
 DOWHLQIRUPDLL
 Q FRPSDUWLPHQWXO ,QIRUPDLL SULYLQG FRUHVSXQGHUHD VLWXDLLORU ILQDQFLDUH 6tandardelor
1DLRQDOHGH&RQWDELOLWDWHGLQQRWDH[SOLFDWLYVHSUH]HQWLQIRUPDLLSULYLQG
 confLUPDUHDIDSWXOXLFRUHVSXQGHULLVLWXDLLORUILQDQFLDUHSUHYHGHULORU61&
 DEDWHULOH GH OD SULQFLSLLOH GH ED] L FDUDFWHULVWLFLOH FDOLWDWLYH PRWLYHOH L HIHFWHOH ILHFUHL
DEDWHULDVXSUDVLWXDLHLSDWULPRQLDOHLILQDQFLDUHDHQWLWLL
 61& DSOLFDWHSHQWUXSULPDGDWGHFWUHHQWLWDWHvQFXUVXOSHULRDGHLGHJHVWLXQH
 QFRPSDUWLPHQWXO'H]YOXLUHDSROLWLFLORUFRQWDELOHVHSUH]LQWLQIRUPDLLSULYLQG
 PHWRGHOH GH UHFXQRDWHUH L GH HYDOXDUH D HOHPHQWHORU VLWXDLLORU ILQDQFLDUH DSOLFDWH GH FWUH
HQWLWDWH
 modLILFULOHRSHUDWHvQSROLWLFLOHFRQWDELOHSHSDUFXUVXOSHULRDGHLGHJHVWLXQH



 &RPSDUWLPHQWXO$QDOL]DDFWLYLWLLHFRQRPLFRILQDQFLDUHDHQWLWLLFRQLQHDQDOL]DGDWHORU
GLQ VLWXDLLOH ILQDQFLDUH L DOWH LQIRUPDLL VXSOLPHQWDUH FDUH VvQW UHOHYDQWH SHQWUX vQHOHJHUHD VLWXDLLORU
ILQDQFLDUHLSHQWUXOXDUHDGHFL]LLORUHFRQRPLFHGHFWUHXWLOL]DWRUL$FHVWFRPSDUWLPHQWLQFOXGH
 LQGLFDWRULL ILQDQFLDUL GH ED] FDUH FDUDFWHUL]HD] SHUIRUPDQHOH L SR]LLDILQDQFLDU D HQWLWLL
FXPVvQWGHH[HPSOXUHQWDELOLWDWHDUDWDGHvQGDWRUDUHIRQGXOGHUXOPHQWQHWFRWDGDWRULLORUH[SLUDWH
OLFKLGLWDWHD
 IDFWRULLDGLFFDX]HOHSULQFLSDOHFDUHDXSURYRFDWPRGLILFULHVHQLDOHDLQGLFDWRULORUILQDQFLDUL
GHED]vQFRPSDUDLHFXSHULRDGDSUHFHGHQW
 HVHQDSROLWLFLORUGHLQYHVWLLLGHILQDQDUHSULYLQGGLYLGHQGHHWF
 LQIRUPDLL FDUH QX VvQW SUHY]XWH GH 61& FD GH H[HPSOX YDORDUHD DGXJDW FDSDFLWDWHD GH
SURGXFLHFRWDSLHHLGHGHVIDFHUHVWDUHDPHGLXOvQFRQMXUWRUvQFDUHHQWLWDWHDvLGHVIRDUDFWLYLWDWHD
 n coPSDUWLPHQWXO $OWH LQIRUPDLL VH SUH]LQW LQIRUPDLL VXSOLPHQWDUH FDUH QX DX IRVW
SUH]HQWDWH vQ FRPSDUWLPHQWHOH      GLQ SFW  GLQ SUH]HQWXO VWDQGDUG GDU VvQW VHPQLILFDWLYH L
UHOHYDQWHSHQWUXXWLOL]DWRUL
Exemplul 13. 2VRFLHWDWHSHDFLXQLGLVSXQHDODvQFHSXWXODQXOXL;GHFDSLWDOVXSOLPHQWDUvQ
suma de 28  OHL IRUPDW SH VHDPD SULPHORU GH HPLVLXQH Q FXUVXO SHULRDGHL GH JHVWLXQH FRQIRUP
GHFL]LHLDGXQULLJHQHUDOHDDFLRQDULORUDFHDVWVXUVGHILQDQDUHDIRVWvQGUHSWDWSHQWUXDFRSHULUHD
SLHUGHULORU DQLORU SUHFHGHQL 'H DVHPHQHD vQ OHJWXU FX DQXODUHD DFLXQLORU UVFXPSUDWH GH OD
DFLRQDUL, DXIRVWWUHFXWHODFDSLWDOXOVXSOLPHQWDUGLIHUHQHQHJDWLYHGLQDQXODUHDDFLXQLORUUHWUDVHvQ
VXPDGHOHL0ULPHDFDSLWDOXOXL VXSOLPHQWDU OD vQFHSXWXOL ODVIvULWXOSHULRDGHL GHJHVWLXQH
GHSHWHSUDJXOGHVHPQLILFDLHVWDELOLWvQSROLWLFLOHFRQWDELOHDOHHQWLWLL
Q ED]D GDWHORU GLQ H[HPSOX HQWLWDWHD SUH]LQW vQ QRW H[SOLFDWLY OD VLWXDLLOH ILQDQFLDUH
XUPWRDUHOHLQIRUPDLL
 OD vQFHSXWXO SHULRDGHL GH JHVWLXQH VROGXO FDSLWDOXOXL VXSOLPHQWDU vQ VXPD GH   OHL
UHSUH]LQW SULPH GH HPLVLXQH IRUPDWH GLQ GHSLUHD YDORULL HIHFWLYH D DSRUWXULORU IRQGDWRULORU DVXSUD
YDORULL QRPLQDOH D DFLXQLORU SODVDWH OD FUHDUHD VRFLHWLL Q FXUVXO SHULRDGHL GH JHVWLXQH DFHDVW SDUWH
FRPSRQHQW D FDSLWDOXOXL VXSOLPHQWDU D IRVW vQ vQWUHJLPH XWLOL]DW SHQWUX DFRSHULUHD SLHUGHULORU DQLORU
SUHFHGHQL
 vQFXUVXOSHULRDGHLGHJHVWLXQHDDYXWORFGLPLQXDUHDFDSLWDOXOXLVXSOLPHQWDUvQVXPDGH
lei din cDX]DGHSLULLYDORULLGHUVFXPSUDUHDDFLXQLORUDQXODWHDVXSUDYDORULLQRPLQDOHDDFHVWRUD/D
ILQHOHSHULRDGHLGHJHVWLXQHDFHDVWGLIHUHQIRUPHD]VROGXOQHJDWLYDOFDSLWDOXOXLVXSOLPHQWDU
$SUREDUHDVHPQDUHDLSUH]HQWDUHDVLWXDLLORUILQDQFLDUH
 6LWXDLLOHILQDQFLDUHVHDSUREGHFWUHDGXQDUHDJHQHUDODSURSULHWDULORULVDXGHDOWRUJDQ
vPSXWHUQLFLWvQFRQIRUPLWDWHFXOHJLVODLDvQYLJRDUH
 6LWXDLLOH ILQDQFLDUH VH VHPQHD] L VH SUH]LQW XWLOL]DWRULORU vQ FRQIRUPLWDWH FX SUHYHGHULOH
/HJLLFRQWDELOLWLL
5HIRUPDUHDELODQXOXL
 'XS DSUREDUHD L SUH]HQWDUHD VLWXDLLORU ILQDQFLDUH HQWLWDWHD UHIRUPHD] ELODQXO SULQ
GHFRQWDUHD
 SURILWXOXL XWLOL]DW DO SHULRDGHL GH JHVWLXQH OD SURILWXO QHW SLHUGHUHD QHW  DO SHULRDGHL GH
JHVWLXQHFXUHQWH
 FRUHFLLORU UH]XOWDWHORU DQLORU SUHFHGHQL FRVWDWDWH vQ SHULRDGD GH JHVWLXQH OD SURILWXO
QHUHSDUWL]DW SLHUGHUHDQHDFRSHULW DODQLORUSUHFHGHQL
 SURILWXOXL QHW SLHUGHULL QHWH  DO SHULRDGHL GH JHVWLXQH OD SURILWXO QHUHSDUWL]DW SLHUGHUHD
QHDFRSHULW DODQLORUSUHFHGHQL
 UH]XOWDWXOXL GLQ WUDQ]LLD OD QRLOH UHJOHPHQWUL FRQWDELOH OD SURILWXO QHUHSDUWL]DW SLHUGHUHD
QHDFRSHULW DODQLORUSUHFHGHQL
 Q ELODQXO SHULRDGHL GH JHVWLXQH XUPWRDUH LQGLFDWRULL GLQ UvQGXULOH   L  QX
SUH]LQWVROG



Prevederi tranzitorii
 3UH]HQWXO VWDQGDUG VH DSOLF vQFHSvQG FX GDWD LQWUULL vQ YLJRDUH ,QIRUPDLLOH SHULRDGHL GH
JHVWLXQHSUHFHGHQWHVHWUDQVSXQvQIRUPXODUHOHVLWXDLLORUILQDQFLDUHSUHY]XWHGHSUH]HQWXOVWDQGDUGvQ
FRQIRUPLWDWHFX5HFRPDQGULOHPHWRGLFHSULYLQGWUDQ]LLDODQRLOH6tandarde 1DLRQDOHGH&RQWDELOLWDWH
'DWDLQWUULLvQYLJRDUH
 3UH]HQWXOVWDQGDUGLQWUvQYLJRDUHODLDQXDULH