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European Harmonization Of Consolidated Financial Statements Regulations?

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Author Info

  • Baltariu Carmen-Alexandra

    ()
    (Universitatea Babes-Bolyai Cluj Napoca, Facultatea de Stiinte Economice si Gestiunea Afacerilor)

  • Cirstea Andreea

    (Universitatea Babes-Bolyai Cluj Napoca, Facultatea de Stiinte Economice si Gestiunea Afacerilor)

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    Abstract

    The purpose of this paper is to analyze the degree of formal accounting harmonization within the European Union with respect to the EC Regulation No. 1606/2002 adopted by the European Parliament and European Council on the 19th of July 2002, which regulates the application of IAS/IFRS regarding the financial reporting of listed European companies. The conclusions of the paper were drawn after the completion of a thorough analysis performed by using correlation and/ or association coefficients, namely: the Jaccardâ€â"¢s Correlation Coefficients, Rogers and Tanimoto Coefficient, Lance and Williams Coefficient and Binary Euclidian Distance Coefficient. The results lead us to conclude that although our first hypothesis is verified, the degree of harmonization between the accounting systems of EU Member States could be truly quantified only through an analysis of the material accounting harmonization, more precisely by analyzing the way the companies put into practice the requirements imposed through the EC Regulation No. 1606/2002.

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    File URL: http://anale.steconomiceuoradea.ro/volume/2012/n1/124.pdf
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    Bibliographic Info

    Article provided by University of Oradea, Faculty of Economics in its journal The Journal of the Faculty of Economics - Economic.

    Volume (Year): 1 (2012)
    Issue (Month): 1 (July)
    Pages: 860-865

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    Handle: RePEc:ora:journl:v:1:y:2012:i:1:p:860-865

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    Related research

    Keywords: formal accounting harmonization; consolidated financial statements; regulatory framework;

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    References

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    1. Qu, Xiaohui & Zhang, Guohua, 2010. "Measuring the convergence of national accounting standards with international financial reporting standards: The application of fuzzy clustering analysis," The International Journal of Accounting, Elsevier, vol. 45(3), pages 334-355, September.
    2. Ojo, Marianne, 2010. "The role of the IASB and auditing standards in the aftermath of the 2008/2009 Financial Crisis," MPRA Paper 20330, University Library of Munich, Germany.
    3. Garrido, Pascual & Leon, Angel & Zorio, Ana, 2002. "Measurement of formal harmonization progress:: The IASC experience," The International Journal of Accounting, Elsevier, vol. 37(1), pages 1-26.
    4. Ding, Yuan & Hervé, Stolowy & Hope, Ole-Kristian & Jeanjean, Thomas, 2005. "Differences between domestic accounting standards and IAS: measurement, determinants and implications," Les Cahiers de Recherche 826, HEC Paris.
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