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La crisis del concepto prudencia a causa del tránsito de las normas nacionales austriacas de información financiera a las normas internacionales

Author

Listed:
  • Matthias Reeh Michael

    (Universidad de Económia y Negocios de Viena)

  • Molina Roa Nelson Andrés

    (Universidad de la Salle)

Abstract

As a member of the European Union (EU), Austrian nation has gradually incorporated International Financial Reporting Standards (IFRS), Normas Internacionales de Información Financiera (NIIF) in spanish, to its accounting and Disclosure of Financial Information processes in replacement of Local National Standards called Unternehmensgesetzbuch (UGB). During this process of convergence, prudence principle has been in crisis within IFRS conceptual frame because it has been changed by fair value principle. That is way this paper presents the basic principles of national Austrian, UGB, compared with those of the IFRS to analyze, first, the reasons why prudence concept went into crisis and, secondly, if fair value principle is right to replace it.

Suggested Citation

  • Matthias Reeh Michael & Molina Roa Nelson Andrés, 2013. "La crisis del concepto prudencia a causa del tránsito de las normas nacionales austriacas de información financiera a las normas internacionales," Contaduría y Administración, Accounting and Management, vol. 58(2), pages 91-112, abril-jun.
    • Handle: RePEc:nax:conyad:v:58:y:2013:i:2:p:91-112
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    References listed on IDEAS

    as
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    2. K. Van Hulle, 1992. "Harmonization of accounting standards A view from the European community," European Accounting Review, Taylor & Francis Journals, vol. 1(1), pages 161-172.
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