ACCOUNTING IN THE AGE OF GLOBALIZATION

Ana-Maria Comandaru (andrei)
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Ana-Maria Comandaru (andrei): VALAHIA UNIVERSITY OF TARGOVISTE, ROMANIA

Annals - Economy Series, 2022, vol. 4, 233-240

Abstract: The end of the twentieth century was marked by the emergence of a phenomenon that encompassed all the world's economies: globalization. The development of interactions between states through increased international trade has led to the integration of national economic systems, an integration achieved with the stated goal of standardizing living standards and economic development worldwide. In this context of market internationalization, of economic liberalization characterized by the barrier-free movement of capital flows, accounting has been faced with an exciting challenge: mitigating the differences generated by the specific application of national accounting regulations in order to present quality, relevant financial information and comparable, useful in strategic decision-making. In this scientific approach, I set out to analyze how accounting has responded to the challenges of globalization and adapted to the new information requirements of those interested in the economic life of the entity. The research undertaken is based on the analysis of the literature, but also of the process of implementing international accounting standards in response to normalizers to the implications of the phenomenon of globalization on financial reporting.

Keywords: globalization; internationalization of markets; international accounting; financial reporting accounting standards; standardization; harmonization. (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:cbu:jrnlec:y:2022:v:4:p:233-240

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