The Accounting Systems of the Main Member States of the EU

Bostan Ionel, Grosu Veronica and Eugenia Iancu

Ovidius University Annals, Economic Sciences Series, 2010, vol. X, issue 1, 1441-1444

Abstract: The obligation to make financial statements according to the IAS/IFRS allows the European groups, with branches in another European country to reduce costs. In fact, instead of multiplying the editing of the accounting data (the balance sheet according to the local national law and the one according to the group norms), it is possible for them to respect the local norms, publishing only the balance sheet according to the IAS/IFRS. Many of the economical analysts assume that the international comparability of the financial statements heads to using only one set of accounting standards for making the financial statements.

Keywords: IAS/IFRS; international comparability; local norms; costs; balance sheet (search for similar items in EconPapers)
JEL-codes: M14 M4 M48 (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:ovi:oviste:v:10:y:2010:i:1:p:1441-1444

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