Kees Camfferman and Stephen Zeff. Financial Reporting and Global Capital Markets: A History of the International Accounting Standards Committee 1973-2000

2010 ◽  
Vol 12 (2) ◽  
pp. 465-467
Author(s):  
P. Walton
Keyword(s):  
Financial Reporting ◽  
Capital Markets ◽  
Accounting Standards ◽  
International Accounting ◽  
International Accounting Standards ◽  
Global Capital ◽  
History Of

scholarly journals Vietnam’s path to converging with international accounting standards

2016 ◽  
Vol 14 (1) ◽  
pp. 644-655 ◽  
Author(s):  
Pham Hoai Huong
Keyword(s):  
Global Convergence ◽  
Emerging Markets ◽  
Financial Reporting ◽  
Capital Markets ◽  
Accounting Standards ◽  
International Accounting ◽  
International Accounting Standards ◽  
Reporting Standards ◽  
Financial Reporting Standards ◽  
Initial Approach

This research investigates Vietnam’s approach to converging with international accounting standards using a variety of de jure convergence scores between Vietnamese Accounting Standards (‘VAS’) and International Accounting Standards/International Financial Reporting Standards (‘IAS/IFRS’), such as full convergence, partial convergence and non-convergence. Vietnam’s initial approach to converging with IAS/IFRS is one of selecting suitable IAS/IFRS issues to fully adopt, but there are few VAS issues modified from IAS/IFRS. The level of convergence between VAS and their equivalent IAS/IFRS is quite high at the beginning (84%), then drops significantly to 63% in 2013 due to non-response to subsequent amendments to IAS and new IFRS. If Vietnam is to effectively compete in the world’s capital markets then a resurgence of the convergence program is urgently needed. If the International Accounting Standards Board (‘IASB’) is to achieve its global convergence goals, then it should consider the implications of IAS/IFRS convergence specific to emerging markets.

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.

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 Lobbying na Regulação Contábil: Evidências do Setor Petrolífero

2014 ◽  
Vol 25 (65) ◽  
pp. 124-144 ◽  
Author(s):  
Odilanei Morais dos Santos ◽  
Ariovaldo dos Santos
Keyword(s):  
Financial Reporting ◽  
Accounting Standards ◽  
Status Quo ◽  
International Accounting ◽  
International Accounting Standards ◽  
Discussion Paper ◽  
Reporting Standard ◽  
International Financial Reporting Standard ◽  
International Accounting Standards Board

Este trabalho tem como objetivo identificar os fatores determinantes à submissão de cartas comentários, como estratégia de lobbying no contexto da regulação contábil, à audiência pública do Discussion Paper Extractive Activities do International Accounting Standards Board IASB).Os resultados mostram o tamanho como fator determinante, em todas as modelagens utilizadas, indicando que grandes empresas petrolíferas possuem maior probabilidade para realizar lobbying. Essa propensão é verificada para posicionamentos essencialmente desfavoráveis às propostas apresentadas pelo IASB, o que implica em considerar que a revisão/substituição do International Financial Reporting Standard -IFRS6 será um processo complexo e sujeito a pressões por parte das empresas petrolíferas para manter o status quo.

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