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Implementation of Accounting Standards: Financial Reporting in Albania

In: Business Challenges in the Changing Economic Landscape - Vol. 1

Author

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  • Sonila Gruda

    (Epoka University)

Abstract

Globalization of the today’s globe held additionally enhancement of frugal change and internationalization of companies or marketplaces that amplified the demand for the harmonization of accounting standards. The worldwide adoption of the International Financial Reporting Standards is a reflection of the movement towards such globe accounting standards that are vital tendencies that indicates the enhancement of the accounting transparency. Standardization is a demand that imposing a set of rigorous regulations that is demanded uniformly in countless economies that are connected or not. In Albania, commencing from 1 January 2008, business statements demand to comply alongside Regulation No. 9228 “Accounting and Financial Reporting”. The regulation defines kinds of Accounting Standards, nationwide or global that demand to be demanded by business entities in Albania. This scrutiny, instituted established on the scrutiny of countless cumulative data, will highlight the present situation of the implementation of accounting regulation and commercial delineating in Albania and indicates facts that scrutiny the Accounting Standards as a brilliant innovation. A number of recommendations will be given, aiming at helping the standardization and harmonization of the present requests of the standards.

Suggested Citation

  • Sonila Gruda, 2016. "Implementation of Accounting Standards: Financial Reporting in Albania," Eurasian Studies in Business and Economics, in: Mehmet Huseyin Bilgin & Hakan Danis & Ender Demir & Ugur Can (ed.), Business Challenges in the Changing Economic Landscape - Vol. 1, edition 1, pages 25-36, Springer.
    • Handle: RePEc:spr:eurchp:978-3-319-22596-8_3
    DOI: 10.1007/978-3-319-22596-8_3
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