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The Financial Statements of BRIC Countries

GSTF Journal on Business Review

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Title The Financial Statements of BRIC Countries
 
Creator ., Paolo Pietro Biancone
 
Subject —
 
Description The financial statements of BRIC countries.The aim of this paper is to investigate the accountingsystems used in those countries that today are driving thegrowth of the world economy, the so-called "BRIC"(Brazil, Russia, India and China), and to verify whetherand to what extent the current global process ofconvergence of the different accounting systems with theInternational accounting Standards would also involvethese countries. After an early introduction, an analysis isreported on the accounting practices adopted by each ofthe four countries and on the similarities and differenceswith IFRS. As you can read from the article, the BRICcountries are an active part of the process of convergenceto IAS, however there are still many differences betweenthe accounting practices used by individual countries andthe international ones, due both to the specific economicconditions of developing countries and their peculiarities,and to a certain "resistance" to a full adoption of themodel of international accounting standards. At the endof the article there is a table which highlights the distancebetween the accounting systems adopted in the BRICcountries with International Accounting Standards bycomparing the financial statements of some companiesprepared in accordance with both the two types ofaccounting standards.
 
Publisher GSTF Journal on Business Review (GBR)
 
Contributor —
 
Date 2014-09-01
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Format application/pdf
 
Identifier http://dl6.globalstf.org/index.php/gbr/article/view/809
 
Source GSTF Journal on Business Review (GBR); Vol 3, No 1 (2013): Journal on Business Review (GBR)
ISSN: 2251-2888
2010-4804
 
Language eng
 
Relation http://dl6.globalstf.org/index.php/gbr/article/view/809/824
 
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