Information Assurance Due to IFRS Adoption

Ungureanu Mihaela ()
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Ungureanu Mihaela: „Alexandru Ioan Cuza” University of Iasi, Faculty of Economics and Business Administration

Ovidius University Annals, Economic Sciences Series, 2012, vol. XII, issue 2, 1404-1408

Abstract: Currently, cross-border business operations are current currency and capital markets know no territorial limits. Standardization and harmonization have imposed an uniformity of accounting terms in national and international regulations. In this context, it makes direct reference to the accounting rules comply with the European Directives and International Financial Reporting Standards (IAS/IFRS), which are submitted to the first two fundamental concepts: performance and financial position, and on the other hand, investor, the main user of accounting information about their evolution. This article aims to evoke the current diversity of accounting systems and consequences of IFRS adoption might have to obtain understandable, reliable, relevant and comparable accounting information. This follows if IFRS has positive or negative effects, if represents a solution or an impediment for financial reporting.

Keywords: IASB; IFRS; accounting normalization; accounting system (search for similar items in EconPapers)
JEL-codes: F23 M16 M41 (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:ovi:oviste:v:xii:y:2012:i:2:p:1404-1408

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