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Diversity Of National And International Accounting Practices: The Case Of Intangible Assets

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  • Dragu Ioana-Maria

Abstract

Although seven years have passed since the Norwalk Agreement has been signed, the global accounting standards continue to represent a goal for IASB and FASB, being far from the stage of practical implementation. More than that, the financial crisis made things worse, as it contributes to the unfavourable conditions for the development of convergence process. But despite all these negative elements, FASB and IASB continue to collaborate in obtaining a single set from the two distinct accounting regulations, which can serve for practical accounting purposes. The globalization phenomena imply the existence of a unique set of financial reporting standards. Thus, accounting diversity is to be reduced at international level, so that it would be in accordance with companies’ interests. Therefore, one can state the importance of harmonizing both national and international accounting regulations.

Suggested Citation

  • Dragu Ioana-Maria, 2010. "Diversity Of National And International Accounting Practices: The Case Of Intangible Assets," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 1(1), pages 509-515, July.
    • Handle: RePEc:ora:journl:v:1:y:2010:i:1:p:509-515
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    File URL: http://anale.steconomiceuoradea.ro/volume/2010/n1/079.pdf
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    References listed on IDEAS

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    1. Leo van der Tas, 1992. "Evidence of EC financial reporting practice harmonization," European Accounting Review, Taylor & Francis Journals, vol. 1(1), pages 69-104.
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    More about this item

    Keywords

    comparability; harmonization; similarity; diversity;
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

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