Diversity Of National And International Accounting Practices: The Case Of Intangible Assets
AbstractAlthough seven years have passed since the Norwalk Agreement has been signed, the global accounting standards continue to represent a goal for IASB and FASB, being far from the stage of practical implementation. More than that, the financial crisis made things worse, as it contributes to the unfavourable conditions for the development of convergence process. But despite all these negative elements, FASB and IASB continue to collaborate in obtaining a single set from the two distinct accounting regulations, which can serve for practical accounting purposes. The globalization phenomena imply the existence of a unique set of financial reporting standards. Thus, accounting diversity is to be reduced at international level, so that it would be in accordance with companies’ interests. Therefore, one can state the importance of harmonizing both national and international accounting regulations.
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Bibliographic InfoArticle provided by University of Oradea, Faculty of Economics in its journal The Journal of the Faculty of Economics - Economic.
Volume (Year): 1 (2010)
Issue (Month): 1 (July)
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comparability; harmonization; similarity; diversity;
Find related papers by JEL classification:
- M41 - Business Administration and Business Economics; Marketing; Accounting - - Accounting - - - Accounting
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- Leo van der Tas, 1992. "Evidence of EC financial reporting practice harmonization," European Accounting Review, Taylor and Francis Journals, vol. 1(1), pages 69-104.
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