On the Convergence of Accounting Standards

7 Pages Posted: 21 Apr 2015

See all articles by Boon Seng Tan

Boon Seng Tan

Nanyang Technological University - Nanyang Centre for Public Administration

Date Written: April 20, 2015

Abstract

The initiative towards the convergence of accounting standards driven by the International Accounting Standards Board (IASB) appears un-stopable. This paper first examines why having a set of national accounting standards is valuable. However, the underlying accounting model at the national level means that the logic may not extend to de facto convergence and the debate is played out as debates on implementation issues and fair value accounting. If de jure convergence materializes, International accounting faculty will need to shift their teaching and research focus from the differences in national standards to the differences in implementing a set of international standards.

Keywords: Convergence, Fair Value Accounting, International Accounting Standards Board, Accounting Theory

JEL Classification: M41, M48

Suggested Citation

Tan, Boon Seng, On the Convergence of Accounting Standards (April 20, 2015). Available at SSRN: https://ssrn.com/abstract=2596957 or http://dx.doi.org/10.2139/ssrn.2596957

Boon Seng Tan (Contact Author)

Nanyang Technological University - Nanyang Centre for Public Administration ( email )

S3.2-B4
50 Nanyang Avenue
Singapore, 639798
Singapore

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