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Different Accounting Rules in the United States and in Europe: Which is the Better Method?

Author

Listed:
  • Joachim Schindler
  • Anne Schurbohm
  • Jochen Zimmermann
  • Hanno Merkt
  • Wolfgang Männel

Abstract

In view of the present US accounting scandals, accounting according to US GAAP seems to be inferior to European rules. According to the opinions of Joachim Schindler and Anne Schubohm of KPMG, accounting standards of US GAAP are not appropriate for world-wide application. According to Prof. Jochen Zimmermann, University of Bremen, the German accounting system clearly loses out in a comparison, whereas Prof. Hanno Merkt, Law School Hamburg, is pleading for “as well as”. Prof. Wolfgang Männel, University of Erlangen-Nuremberg, focuses on the differences between the accounting systems according to IAS and HGB.

Suggested Citation

  • Joachim Schindler & Anne Schurbohm & Jochen Zimmermann & Hanno Merkt & Wolfgang Männel, 2002. "Different Accounting Rules in the United States and in Europe: Which is the Better Method?," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 55(14), pages 3-16, July.
    • Handle: RePEc:ces:ifosdt:v:55:y:2002:i:14:p:3-16
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    JEL classification:

    • G30 - Financial Economics - - Corporate Finance and Governance - - - General

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