Historical Dimensions and Realities: The International Accounting Regulations

Author:Nicoleta Maria IENCIU, Ph. D. Student; University Lecturer Ionel Alin IENCIU, Ph. D.

JEL:M48, M41

DOI:

Keywords:accounting convergence, FASB, IASB, principles based standards, rules based standards

Abstract:
The essential objective of this paper is to highlight the theoretical values of the accounting convergence process, for which purpose the authors are presenting the historical foundations and the current reality of international accounting regulations. Presently there is a large diversity of approaches in the field of accounting convergence, for which reason in this paper it is succinctly present the defining elements of certain representative categories. Due to the present existence of a mix of accounting systems inciting to controversial debates, the authors are trying to outline the importance of developing the much debate subject by presenting the representative approaches in the field of accounting convergence. \r\n

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