IDEAS home Printed from https://ideas.repec.org/a/alu/journl/v1y2009i11p28.html
   My bibliography  Save this article

Some Issues About The Transition From U.S. Generally Accepted Accounting Principles (Gaap) To International Financial Reporting Standards (Ifrs)

Author

Listed:
  • Hlaciuc Elena

    (Stefan cel Mare University of Suceava)

  • Mihalciuc Camelia Catalina

    (Stefan cel Mare University of Suceava)

  • Cibotariu Irina Stefana

    (Stefan cel Mare University of Suceava)

  • Apetri Anisoara Niculina

    (Stefan cel Mare University of Suceava)

Abstract

The ultimate goal of a move to IFRS International Financial Reporting Standards isthe rigorous application of a single set of global accounting standards, which will produce high-quality, transparent financial information to help investors and other stakeholders in the world'scapital markets make economic decisions based on financial data that is easily and directlycomparable. Many believe this is a necessity for a vital and growing global economy. In this articlethe authors tried to present the issue of convergence between US Generally Accepted AccountingPrinciples (GAAP) and International Financial Reporting Standards (IFRS). Adoption of IFRS(International Financial Reporting Standards) in the US undoubtedly would mark a significantchange for many US companies. It would require a shift to a more principles-based approach,place far greater reliance on management (and auditor) judgment, and spur major changes incompany processes and systems.

Suggested Citation

  • Hlaciuc Elena & Mihalciuc Camelia Catalina & Cibotariu Irina Stefana & Apetri Anisoara Niculina, 2009. "Some Issues About The Transition From U.S. Generally Accepted Accounting Principles (Gaap) To International Financial Reporting Standards (Ifrs)," Annales Universitatis Apulensis Series Oeconomica, Faculty of Sciences, "1 Decembrie 1918" University, Alba Iulia, vol. 1(11), pages 1-28.
    • Handle: RePEc:alu:journl:v:1:y:2009:i:11:p:28
    as

    Download full text from publisher

    File URL: http://oeconomica.uab.ro/upload/lucrari/1120091/28.pdf
    Download Restriction: no

    References listed on IDEAS

    as
    1. Chris Patel, 2004. "Some theoretical and methodological suggestions for cross-cultural accounting studies," International Journal of Accounting, Auditing and Performance Evaluation, Inderscience Enterprises Ltd, vol. 1(1), pages 61-84.
    2. Jose Luis Ucieda Blanco & Beatriz Garcia Osma, 2004. "The comparability of international accounting standards and US GAAP: an empirical study of Form 20-F reconciliations," International Journal of Accounting, Auditing and Performance Evaluation, Inderscience Enterprises Ltd, vol. 1(1), pages 5-36.
    3. Ding, Yuan & Hope, Ole-Kristian & Jeanjean, Thomas & Stolowy, Herve, 2007. "Differences between domestic accounting standards and IAS: Measurement, determinants and implications," Journal of Accounting and Public Policy, Elsevier, vol. 26(1), pages 1-38.
    4. Reese, William Jr. & Weisbach, Michael S., 2002. "Protection of minority shareholder interests, cross-listings in the United States, and subsequent equity offerings," Journal of Financial Economics, Elsevier, vol. 66(1), pages 65-104, October.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    IFRS; US – GAAP; SEC; IASB; FASB;

    JEL classification:

    • M48 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Government Policy and Regulation

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:alu:journl:v:1:y:2009:i:11:p:28. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Dan-Constantin Danuletiu). General contact details of provider: .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.