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Article: Adoption of international accounting standards: antecedents, processes and outcomes.(financial services management)
- Article from:
- Journal of Academy of Business and Economics
- Article date:
- February 1, 2003
- Author:
CopyrightCOPYRIGHT 2003 International Academy of Business and Economics. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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ABSTRACT
This paper examines international accounting standards focusing on the antecedents, processes, and outcomes influencing the adoption of a commonly accepted set of accounting standards. It is found that most critical antecedents are economic (stage of development, inflation, financial markets), political system stability, legal requirements relating to accounting reporting and general business laws, and cultural idiosyncrasies reflected in values, educational systems, religion and language. The most dominant processes relate to accounting practices (transparency, accountability, disclosure requirements), standardization efforts, motivation to harmonize, ...