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Introduction in the Accounting Systems Convergence and Convergence as an Accounting Concept

2011; Ovidius University Press; Issue: 1 Linguagem: Inglês

2393-3127

Maria Moraru,

Accounting Theory and Financial Reporting

The financial situations performing and presentation in accordance with the IFRS is practical and take into consideration a large number of problems with which these are confronted when applying the IAS-IFRS precautions. In its content the IAS-IFRS requests are presented on domain of interest, such as presenting the information in financial situations, group situations, elements evaluation and admission in the balance and in the profit and loses account. In March 2001 the International Accounting Standards Board (ISAB), which became a foundation organized after the American organization model of normalization (FASB). The foundation consists of four elements: - trustees meeting - normalization organism, IASB, which takes the harmonization activities from the old international organism (International Accounting Standards Committee: IASC) - an interpretation committee, the international interpretation committee concerning the financial reports (International Financial reporting Interpretations Committee: IFRIC) - a normalization consultative council (International Accounting Standards Advisory Council: IASAC)