scholarly journals (No) Limits to Anglo-American accounting? Reconstructing the history of the International Accounting Standards Committee: A review article

2009 ◽  
Vol 34 (8) ◽  
pp. 988-998 ◽  
Author(s):  
Sebastian Botzem ◽  
Sigrid Quack
Keyword(s):  
Accounting Standards ◽  
Review Article ◽  
International Accounting ◽  
International Accounting Standards ◽  
History Of ◽  
Anglo American

THE ROLE OF NON-GOVERNMENTAL ORGANIZATIONS (NGOs) AS INTERMEDIARIES OF THE EUROPEAN UNION DECISION TO ADOPT INTERNATIONAL ACCOUNTING STANDARDS: 1973–2002

2016 ◽  
Vol 43 (2) ◽  
pp. 59-127 ◽  
Author(s):  
Devrimi Kaya ◽  
Robert J. Kirsch ◽  
Klaus Henselmann
Keyword(s):  
European Union ◽  
Accounting Standards ◽  
International Accounting ◽  
International Accounting Standards ◽  
The European Union ◽  
Governmental Organizations ◽  
Non Governmental Organizations ◽  
History Of ◽  
The Many

This paper analyzes the role of non-governmental organizations (NGOs) as intermediaries in encouraging the European Union (EU) to adopt International Accounting Standards (IAS). Our analysis begins with the 1973 founding of the International Accounting Standards Committee (IASC), and ends with 2002 when the binding EU regulation was approved. We document the many pathways of interaction between European supranational, governmental bodies and the IASC/IASB, as well as important regional NGOs, such as the Union Européenne des Experts Comptables, Économiques et Financiers (UEC), the Groupe d'Etudes des Experts Comptables de la Communauté Économique Européenne (Groupe d'Etudes), and their successor, the Fédération des Experts Comptables Européens (FEE). This study investigates, through personal interviews of key individuals involved in making the history of the organizations studied, and an extensive set of primary sources, how NGOs filled key roles in the process of harmonization of international accounting standards.

scholarly journals The Impending Demise Of LIFO: History, Threats, Implications, And Potential Remedies

2012 ◽  
Vol 28 (4) ◽  
pp. 645 ◽  
Author(s):  
Brian W. Carpenter ◽  
Douglas M. Boyle ◽  
Yi Ren
Keyword(s):  
Financial Reporting ◽  
Accounting Standards ◽  
Federal Budget ◽  
International Accounting ◽  
International Accounting Standards ◽  
Accounting Practice ◽  
Deficit Reduction ◽  
History Of ◽  
Accounting Rules ◽  
Global Harmonization

Since its approval by congress in 1939, the last-in-last-out (LIFO) inventory cost flow assumption has historically been utilized by a significant portion of U.S. companies for both tax and financial reporting purposes. However, despite its extensive use and wide acceptance in practice, the LIFO inventory method is currently endangered by two powerful movements that make its future existence far from certain. The first of these movements is the ongoing convergence of U.S. and international accounting standards. Whether future global harmonization of accounting practice come from continued convergence or outright adoption of international accounting standards, this harmonization poses a threat to the continued use of LIFO since LIFO is prohibited under international accounting rules. The second movement is grounded in governmental attempts to lessen the current federal budget deficit. The elimination of LIFO has been targeted as a way of reducing the deficit within the Obama administrations deficit reduction efforts. The momentum of these two threats to LIFO makes the topic of LIFOs future ripe for discussion. This study discusses the history of LIFO, illuminates the current threats the method faces, and outlines the most common remedies that have been proposed to mitigate the financial impact faced by companies that will be negatively affected by any such elimination of the method.

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