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The Objectives of Financial Accounting and Management Control Read chapter Read first chapter

2015 | OriginalPaper | Chapter

3. Financial Accounting Standards: Some Examples

Authors : Fredrik Nilsson, Anna-Karin Stockenstrand

Published in: Financial Accounting and Management Control

Publisher: Springer International Publishing

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Abstract

This chapter provides illustrations of the tensions and conflicts between uniformity and uniqueness, using examples of concrete accounting standards and the reasoning behind them from the perspective of standard setters. It has long been known that there are several factors that contribute to the large discrepancy between formal and material harmonization (or in other words between harmonization of standards versus harmonization of practices). We discuss how this discrepancy can be understood as a result of the tensions and conflicts between demands for uniformity and uniqueness. We trace these tensions and conflicts with the help of specific examples. The examples are illustrations of issues that are raised within the areas of segment reporting, goodwill accounting, business combinations and financial instruments.

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Metadata
Title
Financial Accounting Standards: Some Examples
Authors
Fredrik Nilsson
Anna-Karin Stockenstrand
Copyright Year
2015
Book
Financial Accounting and Management Control

Print ISBN: 978-3-319-13781-0

Electronic ISBN: 978-3-319-13782-7

Copyright Year: 2015

DOI
https://doi.org/10.1007/978-3-319-13782-7_3