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Consolidated Financial Statements - Ipsas Vs Ifrs

Author

Listed:
  • Cirstea Andreea

    (Babes-Bolyai University Cluj Napoca, Romania)

  • Cirstea Stefan

    (Babes-Bolyai University Cluj Napoca, Romania)

  • Marza Bogdan

    (Lucian Blaga University of Sibiu, Romania)

Abstract

The consolidated financial statements represent a topic that gains more and more ground in the international research. This issue is of high interest and it is heavily debated by academics, practitioners and regulators. The reforms of the public sector, such as the implementation of these new types of reports, namely the consolidated reports, have tried to approach the public sector accounting system to the private sector one. As the standards of the private sector have suffered amendments in 2011 and IASB issued new standards regarding the issue of consolidation, we aim to measure the degree of similarity and dissimilarity between IPSAS 6, 7, 8 and the new private sector accounting standards IFRS 10, 11, and IAS 28. According to the undertaken analysis, we could observe that the standards are quite different, difference that can be explained by the changes suffered by the private sector standards.

Suggested Citation

  • Cirstea Andreea & Cirstea Stefan & Marza Bogdan, 2015. "Consolidated Financial Statements - Ipsas Vs Ifrs," Revista Economica, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 67(2), pages 190-198, Februarie.
    • Handle: RePEc:blg:reveco:v:67:y:2015:i:2:p:190-198
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    File URL: http://economice.ulbsibiu.ro/revista.economica/archive/67214cirstea&carstea&marza.pdf
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    References listed on IDEAS

    as
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    3. Ding, Yuan & Hope, Ole-Kristian & Jeanjean, Thomas & Stolowy, Herve, 2007. "Differences between domestic accounting standards and IAS: Measurement, determinants and implications," Journal of Accounting and Public Policy, Elsevier, vol. 26(1), pages 1-38.
    4. Alexandra Fontes & Lúcia Lima Rodrigues & Russell Craig, 2005. "Measuring convergence of National Accounting Standards with International Financial Reporting Standards," Accounting Forum, Taylor & Francis Journals, vol. 29(4), pages 415-436, December.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    consolidated reports; IPSAS; IFRS; IAS; similarity; dissimilarity;
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • M48 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Government Policy and Regulation

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