Dimensions of Difference between Domestic Accounting Standards and IFRS and Potential Determinants - the Case of Emerging Countries, with Focus on Romania

Author:Oana BENDOVSCHI, Ph. D. Student

JEL:M41

DOI:

Keywords:IFRS, emerging, absence, divergence

Abstract:
One of the aims of the article is to present some inconsistencies identified when comparing the treatment based on the domestic accounting standards applied in several emerging countries and the one based on IFRS, with focus on Romania. It also provides evidence from Romania regarding the differences between domestic accounting standards and IFRS in terms of absence and divergence, based on the regulations stated by OMFP 1802/2014, issued in December 2014, and analyzes the status of the potential determinants of the inconsistencies, as presented by Ding Y et. al. in the research published. This article comes as an additional and updated contribution to the prior mentioned research, where it is mentioned that the relatively small number of countries used as sample in the analysis can be a limitation of the research. The ideas presented in this article also strengthen the conclusions of the above research as there are in line with its results. Moreover, to our knowledge, this is one of the first articles which analyze the inconsistencies between domestic accounting standards and IFRS in Romania based on the recently issued OMFP 1802/2014.\r\n

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