COMPARATIVE STUDY OF ACCOUNTING STANDARDS IN BRICS AND EU

Riana Iren Radu, Violeta Isai () and Elena Constandache
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Violeta Isai: Dunarea de Jos University of Galati, Romania
Elena Constandache: Dunarea de Jos University of Galati, Romania

Risk in Contemporary Economy, 2014, 339-345

Abstract: The purpose of this paper is to examine recent accounting rules to facilitate international harmonization in BRICS countries and to show how they have developed an accounting system that harmonizes with international standards, while maintaining macroeconomic control. This paper studies the influence of globalization on the development of accounting in BRICS countries, suggesting that the accounting practices of a country in harmony with international standards outlined above face barriers in the literature, such as the economic and accounting system - tradition. In order to answer the research question, the study primarily differences in contexts of international accounting and book-keeping from the BRICS countries subsequently in terms of the conceptual framework, clarifying thus the differences between the accounts of the BRICS and international Accounting and the causes of these differences.

Keywords: International Financial Reporting Standards; International Accounting Standards; GAAP; BRICS; accounting rules (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:ddj:fserec:y:2014:p:339-345

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