THE EVOLUTION OF THE INTERNATIONAL STANDARDS OF ACCOUNTANCY IAS/IFRS, AREA OF APPLICATION AND THE MECHANISM OF ADOPTION

Viorel Turcanu (), Dorel Mates (), Ionel Bostan (), Veronica Grosu () and Marian Socoliuc ()
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Viorel Turcanu: Academy of Economic Studies of Moldova, Republic of Moldova
Dorel Mates: West University of Timisoara, Faculty of Economic Studies, Timisoara, Romania
Marian Socoliuc: University Stefan cel Mare Suceava, Faculty of Economics and Public Administration , Suceava, Romania

The Annals of the "Stefan cel Mare" University of Suceava. Fascicle of The Faculty of Economics and Public Administration, 2008, vol. 8, issue 1(8), 142-146

Abstract: Unifying the economical-financial information at an international level represents today, within the context of the globalization and integration of the financial markets around the world, an important and urgent demand (necessity). Actually, we are talking about a necessary prerogative for the comparability of the international companies’ performances for the transparency, efficiency and the development of the financial markets across the world. Unifying the accountancy rules and the general use of a common accountancy language constitutes the necessary condition for a homogenious financial information circulation, understandable and transparent, necessary for a higher credibility and a better possibility to compare balances, and most of all that the investor trusts this accountant information document. (the balance sheet). EU = unifies the financial information of the societies at the stock market, for the protection of the investments.

Keywords: International Accounting Standards (IAS); International Financial Reporting Standards (IFRS); IASB (International Accounting Standard Board); financial information (search for similar items in EconPapers)
Date: 2008
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