Controversies concerning the application of the international norms IAS/IFRS in the banking area: the fair value balance sheet evaluation

Author:university professor, PhD. Ion IONAŞCU

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Keywords:international accounting norms, historical cost, market value, fair value, result volatility, manipulation risk, value at risk

Abstract:
Business globalization and economy financial tendency determined the acceptance of the international accounting norms (International Accounting Standards Board: IASB) as the single referential for the investors operating on the international financial markets. At the European Union level, the accounting norms IAS/IFRS will become compulsory starting with the year 2005 for the listed companies preparing consolidated accounts, including banks. In this study we intend to make an analysis of the impact of the IAS/IFRS application on the financial statements published by the banks and on the business environment where the banks operate.

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