Beruflich Dokumente
Kultur Dokumente
International Accounting
Standards and Global
Convergence
or principles-based standards?
Rules-based
Principles-based
Comparability of Accounting
Information
International
Unions
Investors (including financial analysts)
Bankers and lenders
Accountants and Auditors
Governments
Intergovernmental
Organizations
United Nations
Intergovernmental
Organizations
Organization
Intergovernmental Organizations
European Union
Involved
in international harmonization of
standards as part of company law
harmonization
Goal is to promote European economic
integration and development
No company should be at a disadvantage
because of legal differences between
countries
International Organizations
European Union
Interests
Intergovernmental Organizations
European Union
Fourth
Requirements relate to
Disclosure
Classification and presentation of information
Methods of valuation
Intergovernmental Organizations
European Union
Fourth
Directive
Intergovernmental Organizations
European Union
Seventh
Worldwide consolidations
Fair value approach for assets purchased through
acquisitions
Equity treatment of associated corporations
Segmental disclosures of turnover by line of business
and geographical area
Intergovernmental Organizations
European Union
Additional
Directives
Intergovernmental Organizations
European Union
Harmonization
No
Investors
Owners
Investors
International
Want
organizations
comparable information
IASB
Adopted 41 IAS standards, completed 5 new standards, and
revised 15 existing standards
Achievements
Objectives include
versus Principles
versus Principles
Federation of Accountants
International
MNEs
May be less disclosure now in practice
because of the complex nature of MNEs
National reporting requirements may limit
disclosure