International Financial Reporting Standards: Critical Perspectives on Business and ManagementAuthor:
Pub Date: 2008
Summary: International Financial Reporting Standards and the possibility of global accounting harmonisation have recently gained enormously in importance, both practically and from an academic and research perspective. European listed enterprises are now (with effect from 1.1.2005) required to use International Financial Reporting Standards for the Consolidated Financial Statements of all listed enterprises. Australia require...s IFRS usage from the same date; other countries, as diverse as New Zealand and China, are actively moving towards International Financial Reporting Standards. Further, although the whole matter is politically confused, the International Financial Reporting Standards Board and the American Regulatory System are publicly committed to a convergence programme. It would seem that the time is now right for a major collection and appraisal of academic and regulatory work in relation to this whole process. Much of the earlier material, understanding of which is essential for a proper historical perspective both of the current situation and of the future developments, is difficult to obtain. The division of the material into separate volumes is yet to be confirmed, but a number of aspects clearly need significant coverage. It will be important to include a proper understanding of the status quo ante. The national accounting systems which were the source of authoritative usage 35 years ago were very significantly different. These differences must be explicitly understood. Secondly, much work has been done in analysing these differences, grouping like systems and countries together, explaining reasons for the different positions, and so on. Further contextual coverage relating to this includes consideration of cultural, social linguistic and even in some cases religious issues and influences. There is a need for coverage and discussion of the processes of change and developments which have led us from this widely disparate starting position to the current situation. This requires overage of the International Financial Reporting Standards Board and its activities. It also requires exposure to major regional groupings which have attempted with varying degrees of success to create co-operation and harmonisation at a sub global level. Examples include the European Union, North America, the Asian countries and Africa. Additionally of course, the relationships between these sub global movements themselves, and between them and the IFRSB developments need to be considered. [read more]
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Pub Date: 2008
Pub Date: 2008
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