Accounting is the science and art of business management and is a complex system for collecting, identifying, grouping, processing, recording, generalizing accounting and financial reporting.

Accounting also has the task of assessing, knowing, managing and controlling the assets, debts and equity, as well as the results obtained from the entrepreneurial activity of natural and legal persons, in order to achieve the registration, processing, publishing and keeping of the information on financial position, financial performance, changes in equity and cash flows, both for their internal requirements and in relation to existing and potential investors, founders, creditors, control bodies, customers, public institutions and other users of economic information.

To maintain accounting and prepare financial statements, the entities apply International Financial Reporting Standards, which are standards and interpretations issued by the International Accounting Standards Board, which become valid in the Republic of Moldova upon their acceptance by the Government of the Republic of Moldova or the National Accounting Standards that are based on EU directives and on IFRS, elaborated and approved by the Ministry of Finance of the Republic of Moldova.