Historical Cost Accounting and International Accounting Harmonization
Article Sidebar
Published
Mar 22, 2017
Main Article Content
Abstract
The relationship between international accounting harmonization and fair value accounting is one biunivocal: fair value accounting has the effect of catalyst for international accounting harmonization generating relevant information required to the quality of fair value accounting figures.
Management Accounting is focused on the historical cost. This is highlighted in the revaluation: the notes must be submitted separately for each item in the balance of nature revalued property and equipment, the following information: the value of assets at historical cost and revalued amount cumulative value adjustments; or value at the balance sheet date of the difference between the unrealized gains and historical cost accounting and the cumulative amount of the additional value adjustments.
Keywords: historical cost; harmonization; fair value; accounting;
Downloads
Download data is not yet available.
Article Details
Section
Articles
Authors who publish with this journal agree to the following terms:
- Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.
- Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.
- Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See The Effect of Open Access).
References
Barlev, B. & Haddad, J. H. (2007). Harmonization, comparability and fair value accounting, Journal of Accounting, Auditing and Finance, 22 (3), 493-509 July.
Barthe, G. (1989). Meeting the expectations of global capital markets, IASC News 18 (3): 1–2.
Carlson, P. (1997). Advancing the harmonization of international accounting standards: Exploring an alternative path. The International Journal of Accounting 32 (2): 357–378.
Choi, F. D. S. & Levich, R. M. (1997). International accounting diversity and capital market decisions. in international accounting and finance handbook. 2nd ed. Edited by F.D.S. Choi, Chapter 6, 6.1–6.26. New York: John Wiley & Sons, Inc.
Decker, W. E., Jr. & Brunner, P. (1997). A summary of accounting principle differences around the world. In international accounting and finance handbook. 2nd ed. Edited by F.D.S. Choi, chapter 3. New York: John Wiley & Sons, Inc.
Doupnik, S. & Taylor, M. E. (1985). An empirical investigation of the observance of IASC standards in Western Europe. Management International Review 25 (1): 27–33.
Epstein, B. J. & Mirza, B. B. (2000). IAS–interpretation and application of international accounting standards 2000. New York, NY: John Wiley & Sons, Inc.
FASB (Financial Accounting Standards Board), (1980). Statement of financial accounting concepts No. 2: Qualitative characteristics of accounting information. Norwalk, CT: FASB.
FASB (Financial Accounting Standards Board), (1984). Statement of financial accounting concepts No. 2: Recognition and measurement in financial statements of business. Norwalk, CT: FASB.
FASB (Financial Accounting Standards Board), (1996). The IASC-US comparison project: A report on the similarities between and differences between IASC standards and US GAAP. Norwalk, CT: FASB.
FASB (Financial Accounting Standards Board), (1998). Statement of financial accounting standards No. 133: Accounting for derivative instruments and hedging activities. Norwalk, CT: FASB.
Held, D., McGrew, A., Goldblatt, D. & Perraton J. (1999). Global transformations. Stanford, CA: Stanford University Press.
Hendriksen, E. S. & van Breda, M. F. (1992). Accounting theory. 5th ed. Homewood, IL: Irwin.
IASC (International Accounting Standards Committee), (1983). Preface to statements of international accounting standards. London: IASC.
IASC (International Accounting Standards Committee), (1992). IASC constitution. London: IASC.
Iqbal, M. Z., Melcher, T. U., Elmallah, A. A. (1997). International accounting—A global perspective.
McKinnon, S. M. & Janell, P. (1984). The international accounting standards committee: A performance evaluation. The International Journal of Accounting (Spring) 19 (2): 19–34.
Nobes, C. (1987). An empirical investigation of the observance of IASC standards in Western Europe: A comment. Management International Review.
Nobes, C. (1989). Interpreting European financial statements: Towards 1992. London and Edinburgh: Butterworth.
Radebaugh, L., Gray, H. & J. Sidney. (1997). International accounting and multinational enterprises. Canada: John Wiley and Sons, Inc.
Revsine, L. (1985). Comparability: An analytic examination. Journal of Accounting and Public Policy 4 (1): 1–12.
Stefan-Duicu, V. M. & Stefan-Duicu, A. (2015). Global analysis of the financial analyst's job within a company, Procedia Economics and Finance, 26, 261-267 .
Stefan-Duicu, A. & Stefan-Duicu, V. M. (2015). Development and regulatory factor of professional bodies in the audit activity, Procedia Economics and Finance, 26, 268-271.
Tang, Q. (1994). Economic Consequences of the International Harmonization of Accounting Standards: Theory and its Chinese application. The International Journal of Accounting 29 (2): 146–160.
Taylor, S. L. (1987). International accounting standards: An alternative rationale. Abacus 23 (2): 157–171.
Van der Tas, L. G. (1988). Measuring harmonization of financial reporting practice. Accounting Business Research (Spring): 157–169.
Wolk, H. I. & Heaston, P. H. (1992). Toward the harmonization of accounting standards: An analytical framework’ The International Journal of Accounting 27 (2): 95–111.
Wyatt, A. R. (1997). International accounting standards and organizations: Quo Vadis? In International Accounting and Finance Handbook, 2nd Edition. Edited by F.D.S. Choi. New York: John Wiley & Sons, Inc.
BVB http://www.bvb.ro/FinancialInstruments/Indices/IndicesProfiles.aspx?i=BET .
OMFP 1802/2014 https://static.anaf.ro/static/10/Anaf/legislatie/OMFP_1802_2014.pdf.
OMFP 1802/2014 http://contabilul.manager.ro/dbimg/files/ORDIN_1802.pdf.
Barthe, G. (1989). Meeting the expectations of global capital markets, IASC News 18 (3): 1–2.
Carlson, P. (1997). Advancing the harmonization of international accounting standards: Exploring an alternative path. The International Journal of Accounting 32 (2): 357–378.
Choi, F. D. S. & Levich, R. M. (1997). International accounting diversity and capital market decisions. in international accounting and finance handbook. 2nd ed. Edited by F.D.S. Choi, Chapter 6, 6.1–6.26. New York: John Wiley & Sons, Inc.
Decker, W. E., Jr. & Brunner, P. (1997). A summary of accounting principle differences around the world. In international accounting and finance handbook. 2nd ed. Edited by F.D.S. Choi, chapter 3. New York: John Wiley & Sons, Inc.
Doupnik, S. & Taylor, M. E. (1985). An empirical investigation of the observance of IASC standards in Western Europe. Management International Review 25 (1): 27–33.
Epstein, B. J. & Mirza, B. B. (2000). IAS–interpretation and application of international accounting standards 2000. New York, NY: John Wiley & Sons, Inc.
FASB (Financial Accounting Standards Board), (1980). Statement of financial accounting concepts No. 2: Qualitative characteristics of accounting information. Norwalk, CT: FASB.
FASB (Financial Accounting Standards Board), (1984). Statement of financial accounting concepts No. 2: Recognition and measurement in financial statements of business. Norwalk, CT: FASB.
FASB (Financial Accounting Standards Board), (1996). The IASC-US comparison project: A report on the similarities between and differences between IASC standards and US GAAP. Norwalk, CT: FASB.
FASB (Financial Accounting Standards Board), (1998). Statement of financial accounting standards No. 133: Accounting for derivative instruments and hedging activities. Norwalk, CT: FASB.
Held, D., McGrew, A., Goldblatt, D. & Perraton J. (1999). Global transformations. Stanford, CA: Stanford University Press.
Hendriksen, E. S. & van Breda, M. F. (1992). Accounting theory. 5th ed. Homewood, IL: Irwin.
IASC (International Accounting Standards Committee), (1983). Preface to statements of international accounting standards. London: IASC.
IASC (International Accounting Standards Committee), (1992). IASC constitution. London: IASC.
Iqbal, M. Z., Melcher, T. U., Elmallah, A. A. (1997). International accounting—A global perspective.
McKinnon, S. M. & Janell, P. (1984). The international accounting standards committee: A performance evaluation. The International Journal of Accounting (Spring) 19 (2): 19–34.
Nobes, C. (1987). An empirical investigation of the observance of IASC standards in Western Europe: A comment. Management International Review.
Nobes, C. (1989). Interpreting European financial statements: Towards 1992. London and Edinburgh: Butterworth.
Radebaugh, L., Gray, H. & J. Sidney. (1997). International accounting and multinational enterprises. Canada: John Wiley and Sons, Inc.
Revsine, L. (1985). Comparability: An analytic examination. Journal of Accounting and Public Policy 4 (1): 1–12.
Stefan-Duicu, V. M. & Stefan-Duicu, A. (2015). Global analysis of the financial analyst's job within a company, Procedia Economics and Finance, 26, 261-267 .
Stefan-Duicu, A. & Stefan-Duicu, V. M. (2015). Development and regulatory factor of professional bodies in the audit activity, Procedia Economics and Finance, 26, 268-271.
Tang, Q. (1994). Economic Consequences of the International Harmonization of Accounting Standards: Theory and its Chinese application. The International Journal of Accounting 29 (2): 146–160.
Taylor, S. L. (1987). International accounting standards: An alternative rationale. Abacus 23 (2): 157–171.
Van der Tas, L. G. (1988). Measuring harmonization of financial reporting practice. Accounting Business Research (Spring): 157–169.
Wolk, H. I. & Heaston, P. H. (1992). Toward the harmonization of accounting standards: An analytical framework’ The International Journal of Accounting 27 (2): 95–111.
Wyatt, A. R. (1997). International accounting standards and organizations: Quo Vadis? In International Accounting and Finance Handbook, 2nd Edition. Edited by F.D.S. Choi. New York: John Wiley & Sons, Inc.
BVB http://www.bvb.ro/FinancialInstruments/Indices/IndicesProfiles.aspx?i=BET .
OMFP 1802/2014 https://static.anaf.ro/static/10/Anaf/legislatie/OMFP_1802_2014.pdf.
OMFP 1802/2014 http://contabilul.manager.ro/dbimg/files/ORDIN_1802.pdf.