Since 2014
NEWS AND INSIGHTS ON THE CONVERGENCE OF IFRS - U.S. GAAP
Studies and Scientific Researchs. Economics Edition
View Archive Info| Field | Value | |
| Title |
NEWS AND INSIGHTS ON THE CONVERGENCE OF IFRS - U.S. GAAP
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| Creator |
Breahna Pravat, Ionela Cristina
Diaconu, Diana-Maria |
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| Subject |
accounting; convergence; globalization; IFRS; U.S. GAAP
M41 |
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| Description |
International accounting convergence is a highly complex process that began decades ago, emphasized globalization being the main factor that determined setters, professional bodies, investors to become aware of the importance of completing this process, namely the development and implementation of a common set of standards covering all areas of financial reporting. This objective was initially assumed by the International Accounting Standards Committee (IASC), now the International Accounting Standards Board (IASB).In this respect, at first it is noted the convergence of U.S. standards with the international ones, respectively the convergence of U.S. GAAP - IFRS standards, that, at least in theory, are not so different from each other, as we can say that, just as IFRS, U.S. GAAP were designed as a system of principles-based accounting. In reality, the U.S. standards system has proven to be more of a rules-based accounting system, unlike his international equivalent/counterpart. And the current state of convergence of the two sets of rules still reflects significant differences, plus the opposition of some entities to accept international standards.
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| Publisher |
Vasile Alecsandri University of Bacau
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| Date |
2013-12-15
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| Type |
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion — |
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| Format |
application/pdf
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| Identifier |
http://www.sceco.ub.ro/index.php/SCECO/article/view/224
10.29358/sceco.v0i18.224 |
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| Source |
STUDIES AND SCIENTIFIC RESEARCHES. ECONOMICS EDITION; No 18 (2013)
STUDII SI CERCETARI STIINTIFICE. SERIA STIINTE ECONOMICE; No 18 (2013) 2344-1321 2066-561X |
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| Language |
eng
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| Relation |
http://www.sceco.ub.ro/index.php/SCECO/article/view/224/192
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