IDEAS home Printed from https://ideas.repec.org/a/dug/journl/y2009i2p32-49.html
   My bibliography  Save this article

Correlation Between International Financial Reporting Standards And Assessment In The Context Of Market Value Relations -Fair Value

Author

Listed:
  • Neculina CHEBAC

    () (“Dunarea de Jos” University of Galati)

  • Cristina Mihaela ONICA

    () (“Dunarea de Jos” University of Galati)

Abstract

Applying International Financial Reporting Standards (IFRS) will have the purpose: the rationale is that the professional accounting, switching to accounting based on fair value, involves getting more frequent information on the fair value of assets; professional staff should be informed of the substance of the economic activities of companies for a proper application of the standards (there are fewer detailed instructions of the Ministry of Finance); it is possible that tax regulations do not keep up with the accounting, tax implications of certain transactions may be unclear and therefore may conflict with tax authorities. This detaches the idea that the application of different standards, leading to different results, with implications for the interpretation of data, calculates economic and financial indicators and distorting "the truth accountant”. The analysis outlined above suggests that, at least at European level, making a financial audit, of how to evaluate companies in accordance with Financial Reporting Standards and IVSC would create an international market that would ensure international recognition specialists in this field.

Suggested Citation

  • Neculina CHEBAC & Cristina Mihaela ONICA, 2009. "Correlation Between International Financial Reporting Standards And Assessment In The Context Of Market Value Relations -Fair Value," EuroEconomica, Danubius University of Galati, issue 2(23), pages 32-49, december.
  • Handle: RePEc:dug:journl:y:2009:i:2:p:32-49
    as

    Download full text from publisher

    File URL: http://www.euroeconomica-danubius.ro/arhiva/euroeconomica%2023/04.Neculina.Chebac&Cristina.Mihaela.Onica.pdf
    Download Restriction: no

    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:dug:journl:y:2009:i:2:p:32-49. 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: (Florian Nuta). General contact details of provider: http://edirc.repec.org/data/fedanro.html .

    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.

    We have no references for this item. You can help adding them by using 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.