Path to Achieve Global Convergence

Mircea Mirela Cristina () and Iulia Bucur
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Mircea Mirela Cristina: „Vasile Alecsandri” University of Bacãu, Faculty of Economics

Ovidius University Annals, Economic Sciences Series, 2011, vol. XI, issue 1, 1376-1380

Abstract: The world’s main accounting standards setters are currently working with an unprecedented agenda of standards development in an attempt not only to bring International Financial Reporting Standards (IFRS) and US Generally Accepted Accounting Principles (US GAAP) closer together, but also to achieve substantial improvement of these sets of standards. This agenda is likely to have a major impact on the companies that use these standards for their financial reports and the stakeholders that rely on those reports. The ongoing process of converging and reforming the world’s accounting standards continues to challenge standards setters and worry stakeholders.

Keywords: international standards; global convergence; standard-setting (search for similar items in EconPapers)
JEL-codes: M41 (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:ovi:oviste:v:11:y:2011:i:1:p:1376-1380

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