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Financial Accounting

C/F/1274. Conformity in international accounting: principle-based and rule-based accounting standards

WORDS:
7700
DATE:
2011
PRICE:
79.99 GBP

The paper addresses the harmonisation of accounting regulation across the world examining the development of IFRS (International Financial Reporting Standards) and their convergence with the US GAAP (Generally Accepted Accounting Principles). Advantages and disadvantages of principle-based accounting standards against rule-based accounting standards are highlighted. Recommendations are suggested about the globalisation of accounting standards.

 

KEYWORDS: international accounting, accounting standards, IFRS, GAAP,

 
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