Accounting Integration issues of EU Member States

Aldona Kamela-Sowinska ()
Additional contact information
Aldona Kamela-Sowinska: Poznan University of Economics

No 33/2014, Working Papers from Institute of Economic Research

Abstract: The aim of this article is to discuss the dilemmas over the integration of accounting in EU member states. The dilemma could be divided into the following main groups. Dilemma of the user of financial statements. This dilemma consists in determining for whom the integration of accounting in EU is crucial, and who is the intended beneficiary of integration. Dilemma arising from the lack of theoretical framework for drafting directives and standards: the accounting paradigm assuming that accounting is strictly quantitative. Accounting is a social science, whereas the accounting practice has greater influence on social, rather than purely economic, reality. Dilemma over legal regulations and the legitimization of standard setters could be attributed to accounting regulations as legal norms. A classic example of this might be the transition from rule-based to principle-based IFRSs. The dilemma over the legitimization of standard setters has its roots in the legal aspect of accountancy. In order to solve it, it is necessary to answer the question: ‘who controls the processes of accounting integration?’ since the participants of this process often present divergent viewpoints, and sometimes even opposite priorities. Dilemma over the politicization of accountancy. The more globalized and complex the economic environment is, the more of political intervention there is expected to be in the standard setting process, affected by global geopolitical trends.

Keywords: Legal norm; Accounting; Integration; European Union (search for similar items in EconPapers)
JEL-codes: K2 M4 (search for similar items in EconPapers)
Date: 2014-12, Revised 2014-12
New Economics Papers: this item is included in nep-acc
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.badania-gospodarcze.pl/images/Working_Papers/2014_No_33.pdf First version, 2014 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pes:wpaper:2014:no33

Access Statistics for this paper

More papers in Working Papers from Institute of Economic Research Contact information at EDIRC.
Bibliographic data for series maintained by Adam P. Balcerzak ( this e-mail address is bad, please contact ).