Annals of “Dunarea de Jos” University of Galati Fascicle I. Economics and Applied Informatics Years XXV – n o 2/2019 ISSN-L 1584-0409 ISSN-Online 2344-441X www.eia.feaa.ugal.ro DOI https://doi.org/10.35219/eai1584040932 Diagnosis and Perspectives of Accounting in EU Countries Laurentiu DINICA  , Iuliana Oana MIHAI  , Violeta Maria ISAI  ARTICLE INFO ABSTRACT Article history: Accepted June 2019 Available online August 2019 European Union, as you already know, is a framework for diversity. Furthermore, an exploratory point of view to trace the all 28 members of European Union in order to research all the accounting systems in place will be outdated due to harmonization attempts started in 2005. In these circumstances, it looks like more interesting to study, is the future of what will become the accounting science. Today, there is nothing than theories to predict the future of this field of science. After an exploratory digital search of all published literature regarding accounting as primary keyword, several conclusions, in our professional opinion, will be close enough, in the future decades. © 2019 EAI. All rights reserved. JEL Classification M41, M42 Keywords: Accounting, Audit, Harmonization 1. Introduction E.U. as a relevant area and wide economic diversity of accounting systems, started with January 1 st of 2005, the process of enhancing the markets for European capital in order to increase competitiveness through homogeneous and widely recognized standards to adopt IAS/IFRS in order to publish financial statements including consolidated reports. Cross-border trade and globalization of transactions demand new perspectives less influenced by Member State and their accounting traditions. From another point of view the requirement for a higher level of reliability concerning the financial accounting amounts become obvious. The harmonization process is to slow, so now in E.U. there are different accounting systems with increased cost of compliance and with reduced capabilities to compare the performance of economies within Member State, companies of each country and off course the entire E.U. economy in order to establish a solid base for decisions at national government or E.U. Council. Alternative accounting system, with a fresh start, empowered by concentrated support from all players involved, developed for high level of national government and distributed to low levels of economy is actually a new direction to pursuit. Starting with 2014, European System of Accounts ESA 2010, based on E.U. regulation, is now the single set of instructions, which provide an accounting framework, unique, continuous and uniform, in order to offer reliable information and an overview picture of financial position at all levels of Member State economy. Comparability, regularity and clearness of statements and reports on long-term perspective will provide reduced uncertainty and misrepresentation altogether with a more expressive picture of financial position and performance at all levels, economy, government, companies and, why not, to the level of households or single people. Digital search revealed that the future of accounting is not a top subject and available contributions already published on this matter, in summary, has the character of theories. Relevant literature mentioned in references, a quite small number of cases, shows us that authors and professionals, still looking to the accounting science as a local implementation. In conclusion of our introduction, a few assumptions occur in order to underline our professional judgment and we take in consideration reduced risks of new economic or financial crisis to influence the actual course of action in economy. 2. Accounting harmonization will continue in slow motion It looks like a smart decision of E.U. to finally implement IFRS in order to publish financial consolidated statements as a first step to worldwide harmonization but still in opposition with the two  ,  ,  Dunarea de Jos University of Galati, Romania. E-mail addresses: laurentiu.t.dinica@gmail.com , oana.anghel@ugal.ro (Corresponding author), violeta.isai@ugal.ro .