The globalization of the world economy has entailed the emergence and operation of the multinational economic entities. In their turn, such entities have opened their branches, subsidiaries and individual entities, which operate in a number of countries. As such, they are bound to follow the accounting regulations of the respective countries and this fact generates some difficulties in terms of producing certain data that would be comparable at the international level. Therefore, it is necessary to harmonize the accounting systems of different countries, which fact would enhance the possibility of making well-grounded decisions for investment purposes. In this context, the aim and objective of this research is to shed some light on the concepts of harmonization, normalization and convergence of the Moldovan accounting system within the framework of the conclusion of the Association Agreement with the European Union. The next step would be for Moldova to identify new ways of enhancement and optimization of the economic and financial activity of the business entities, new working methods and tools, as well as to improve its accounting and financial regulations.