Considerations on Regulatory Accounting Research and Accounting Normalization - Past, Present and Future
Author:
Rodica BĂLĂŞOIU, Ph. D. Student
JEL:
M410
DOI:
Keywords:
regulatory accounting research, accounting normalization, IASB (International Accounting Standards Board), FASB (Financial Accounting Standards Board), IFRS, convergence, harmonization
Abstract:
This article is an overview of a research conducted with the objective of developing concepts of regulatory accounting research and accounting normalization, as well as to reflect the need, importance and purpose of regulatory accounting research in relation to accounting normalization. \r\nThe beginning of the third millennium, in the context of market globalization, is marked by the acceptance of IFRS (International Financial Reporting Standards) global accounting rules as global accounting standards and by the convergence of both referential – IFRS standards and U.S. GAAP accounting rules. \r\nAt EU level, there are two concerns: consistent application of IFRS in all Member States and harmonization of European accounting directives by simplifications and changes in current directives, by reducing the number of available options in the Member States, for the purpose of increasing the comparability and transparency of accounting information, as well as presentation in the accounting records, of information in strategic areas of natural resources.\r\nBased on the analysis of national, regional and international accounting regulatory framework, on the one hand, and also on the opinions of some doctrinarians, the author presents the current state of knowledge in the field, concluding that the regulatory accounting research aims at developing quality accounting standards and the estimation and evaluation of accounting research results are possible if in its center lies the dissemination of components of economic operations and relations reflected by the accounting, analysis of new economic phenomena, of new financial and commercial transactions, for a uniform interpretation of their components, condition for obtaining equivalent accounting information.\r\n\r\n