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Correlation between International Financial Reporting Standards and assessment in the context of market value relations -fair value

EuroEconomica

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Field Value
 
Title Correlation between International Financial Reporting Standards and assessment in the context of market value relations -fair value
 
Creator Chebac, Neculina; Danubius University of Galati
Onoca, Cristina Mihaela; Dunarea de Jos University of Galati
 
Subject accounting information; market value; financial balance, bases of assessment; alternative treatment; IAS 39; fair value option; IVSC; IFRS
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Description Applying International Financial Reporting Standards (IFRS) will have the purpose: the rationale is that theprofessional accounting, switching to accounting based on fair value, involves getting more frequent information on the fairvalue of assets; professional staff should be informed of the substance of the economic activities of companies for a properapplication of the standards (there are fewer detailed instructions of the Ministry of Finance); it is possible that taxregulations do not keep up with the accounting, tax implications of certain transactions may be unclear and therefore may conflict with tax authorities.This detaches the idea that the application of different standards, leading to different results, with implications for theinterpretation of data, calculates economic and financial indicators and distorting "the truth accountant”.The analysis outlined above suggests that, at least at European level, making a financial audit, of how to evaluate companies in accordance with Financial Reporting Standards and IVSC would create an international market that would ensure international recognition specialists in this field.
 
Publisher Danubius University of Galati, Romania
 
Contributor —
 
Date 2010-04-22
 
Type Peer-reviewed Article
 
Format application/pdf
 
Identifier http://journals.univ-danubius.ro/index.php/euroeconomica/article/view/253
 
Source EuroEconomica; Vol 23, No 2 (2009)
 
Language en
 
Rights The author fully assumes the content originality and the holograph signature makes him responsible in case of trial.