THE DEVELOPMENT AND IMPACT OF THE PROGRESS OF ACCOUNTING STANDARDS ON INTERNATIONAL CO-OPERATION AND EUROPEAN INTEGRATION

Diana Andreea Traistaru
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Diana Andreea Traistaru: University of Craiova Faculty of Economics and Business Administration

Annals of University of Craiova - Economic Sciences Series, 2015, vol. 1, issue 43, 299-308

Abstract: Both on a national and international level, the last twenty years have been shaped by a significant growth of the accounting regulations’ number and their complexity due mainly to the appreciation of the activity level of entities and it also generated an extension and diversification of the risks which are implied. The initial economic development together with the globalisation of economic and financial markets and the consequences of the global economic recession, have contributed to the aggravation of various used accounting systems, based on complex and difficult to apply standards. Therefore, emerged the need of simplifying and harmonizing these standards on an international level.

Keywords: International Reporting Standards; US-General Accepted Accounting Principles; internationalization; normalization; standardization; globalization; European Economic Regulations (search for similar items in EconPapers)
JEL-codes: M41 M42 (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:aio:aucsse:v:1:y:2015:i:43:p:299-308

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