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Evolutions of Accounting Standardization: The Shock of Financialization and Globalization

Author

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  • Alain Burlaud

    (CNAM - Conservatoire National des Arts et Métiers [CNAM] - HESAM - HESAM Université - Communauté d'universités et d'établissements Hautes écoles Sorbonne Arts et métiers université, LIRSA - Laboratoire interdisciplinaire de recherche en sciences de l'action - CNAM - Conservatoire National des Arts et Métiers [CNAM] - HESAM - HESAM Université - Communauté d'universités et d'établissements Hautes écoles Sorbonne Arts et métiers université)

Abstract

Accounting is a mirror of society and therefore reflects the shock of the financialization and globalization of the economy. From 1970 to 2000, international accounting standards were based on three standards: the American, which, like the dollar, could in fact become hegemonic, European and global but of private origin, the IASC. In the 2000s, the IASB, which succeeded the IASC, asserted its power, especially with the adoption of its standards, IFRS, by the European Union. After this victory, the IASB now faces two new challenges: how to develop global standards for SMEs when they do not have access to the capital market; how to account for the non-financial dimensions of corporate performance when all dimensions are interdependent and, beyond investors, of interest to all stakeholders.

Suggested Citation

  • Alain Burlaud, 2020. "Evolutions of Accounting Standardization: The Shock of Financialization and Globalization," Post-Print halshs-03161123, HAL.
    • Handle: RePEc:hal:journl:halshs-03161123
    DOI: 10.20869/AUDITF/2020/158/008
    Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-03161123
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    References listed on IDEAS

    as
    1. Jacques Richard & Emmanuelle Plot, 2014. "La gestion environnementale," Post-Print hal-01651213, HAL.
    2. repec:dau:papers:123456789/8722 is not listed on IDEAS
    3. Alain Burlaud & Maria Niculescu, 2015. "Non financial information: a European perspective," Post-Print halshs-02145461, HAL.
    4. Alain Burlaud, 2013. "Should Financial Statements Represent Fairly or be Relevant?," Working Papers halshs-00873959, HAL.
    5. Bernard Colasse, 2005. "Les grands auteurs en comptabilité," Post-Print halshs-00153485, HAL.
    6. repec:dau:papers:123456789/13411 is not listed on IDEAS
    7. Alain Burlaud, 2007. "Faut-il un droit comptable pour les PME ?," Post-Print halshs-00405148, HAL.
    8. Alain Burlaud & Maria Niculescu, 2015. "Non financial information: a European perspective [Informaţia non-financiară: o perspectivă europeană]," Post-Print halshs-02145469, HAL.
    Full references (including those not matched with items on IDEAS)

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    Keywords

    accounting; financialization; globalization; standardization;
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