Impact of Globalization on International Accounting Harmonization
Paul Diaconu Sr.
Bucharest Academy of Economic Studies
January 18, 2007
Globalization is a historical process, which has been created as a need of improving the resource allocation and to develop bigger markets for the global economy. Ideas about going global we found in Adam Smith and David Ricardo opera, going through Marx vision about the phenomena until our ages. We can consider it as one of the biggest social processes which the humanity has facing since ever. That's why it's impact in the global economy is huge and the accounting sector which is playing a vital role in the information process of the society is very important. That's why one of the main international accounting processes on the actual period is the harmonization of the national accounting systems. The harmonization process is influenced by several factors like culture, politics, economy and also sociological behaviors. The paper is trying to present the evolution of harmonization process during the time advantages and weakness generated by its solutions. The paper is trying to present also the efforts of the to main accounting systems: US GAAP and IAS/IFRS in order to achieve in the next period the convergence, in order to be able to propose to the financial world an unique accounting model.
Number of Pages in PDF File: 8
Keywords: cultural factors, global economy, harmonization of the accounting, convergence of the accounting, international accounting standards
JEL Classification: M41, M44, M47
Date posted: January 22, 2007
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