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Path to Achieve Global Convergence


  • Mircea Mirela Cristina

    () („Vasile Alecsandri” University of Bacãu, Faculty of Economics)

  • Bucur Iulia Andreea

    () („Vasile Alecsandri” University of Bacãu, Faculty of Economics)


The world’s main accounting standards setters are currently working with an unprecedented agenda of standards development in an attempt not only to bring International Financial Reporting Standards (IFRS) and US Generally Accepted Accounting Principles (US GAAP) closer together, but also to achieve substantial improvement of these sets of standards. This agenda is likely to have a major impact on the companies that use these standards for their financial reports and the stakeholders that rely on those reports. The ongoing process of converging and reforming the world’s accounting standards continues to challenge standards setters and worry stakeholders.

Suggested Citation

  • Mircea Mirela Cristina & Bucur Iulia Andreea, 2011. "Path to Achieve Global Convergence," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 1376-1380, May.
  • Handle: RePEc:ovi:oviste:v:11:y:2011:i:1:p:1376-1380

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    international standards; global convergence; standard-setting;

    JEL classification:

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


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