 The EU versus the IASB versus the USAJohn Flower Chapter 7 in European Financial Reporting, 2004, pp 152-175 from Palgrave Macmillan Abstract: Abstract The two preceding chapters have introduced two organisations which are involved in setting rules for the financial reporting of European enterprises: the EU through its directives and the IASB through its International Accounting Standards. This chapter introduces a third actor: the USA. It explains why the American rules (United States Generally Accepted Accounting Principles — always abbreviated to US GAAP) represent a possible alternative for the financial reporting of European enterprises. The existence of three possible sources of the rules for European enterprises makes the study of European financial reporting extremely interesting but also rather complicated. This chapter explores these complications, by analysing how the relationships between the three actors, the EU, the IASB and the USA, have developed in recent years. First it seeks to explain why the rules of a foreign country in a different continent should be of any relevance for European enterprises. Keywords: Member State; International Financial Reporting Standard; Financial Account Standard Board; Individual Account; International Account Standard (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-62810-6_7 Ordering information: This item can be ordered from Access Statistics for this chapter More chapters in Palgrave Macmillan Books from Palgrave Macmillan |
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