Analysis of the Impact of Changes to International Financial Reporting Standards, on the National Accounts Dashboard

Valentin Burca () and Robert Almasi ()
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Valentin Burca: West University of Timi?oara
Robert Almasi: Aurel Vlaicu University of Arad

Acta Universitatis Danubius. OEconomica, 2019, issue 15(6), 115-135

Abstract: Along the last two decades, IASB has been entitled as the core accounting standard-setting institution. As result of its cooperation with FASB, within the international accounting convergence projects, there have been issued, either revised forms of existing financial reporting standards, or completely new standards, under the constraints of the international due process. All those changes affected in different forms and amplitudes the macroeconomic performance indicators, such as the gross domestic product. This study aims to raise discussion around the implications on GDP value of the recently issued IFRSs, from a qualitative point of view. This way, we provide some insights concerning the role of financial information quality on macroeconomic predictions, from an international framework analysis perspective. As a first step in our research, we try to understand the scheme of changes generated by modifications on IFRSs on the macroeconomic indicators, such as GDP, considering two examples.

Keywords: gross domestic product; international financial reporting standards; European System of Accounts; leases; depreciation (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:dug:actaec:y:2019:i:6:p:115-135

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