Financial instruments between diversity and convergence in the international and national practices

 Created millennia ago, having a constantly growing, popular or disapproved, the financial instruments provide the premise of current research topics, necessary and useful, due to their complex character, spectacular effects and their dynamics, and to the major role attributed to these financial products in the last international financial crisis.

Prepared as to address issues related to the recognition, derecognition, measurement of financial instruments and hedging, this paper aims to fulfil a lot of objectives, which can be summarized as follows: presenting the theoretical framework; emphasizing the two international and national trends, enrolling us to the coordinates of the descriptive and normative research; testing, through an empirical study, the hypothesis regarding the reclassification permissiveness related to the credit risk of financial liabilities; checking the existence of a common language of the national regulations applicable to all types of companies, and analysis of the existing national regulations gaps and proposals for their improvement.

To achieve these objectives completely, it has been used a combination of research methods in order to maintain the line drawn many years ago by Professor Demetrescu, which presented the accounting as a „fundamental and applied science“.

Theoretical aspects are carefully emphasized and accompanied by examples that facilitate understanding. In addition, the variety of disclosure forms, clearly and explicitly style pleasantly surprise the reader.