Movement global accounting

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Transformed the enormous progress of technology and the transport of some local companies to global conglomerates. Even media companies in international institutions has shifted to the acceleration of the package delivery traditional media, and the expansion of the Internet as an electronic marketplace. With this shift towards a perspective of international finance and global business, there is a need for accounting standards and to adapt accordingly. Different methods of accounting, in addition to language barriers, authentic, and open the door to confusion and misunderstanding when companies are looking to do business abroad. For this reason, he asked close trade relations existing in European countries for "mandatory adoption of IFRS in the European Union (EU), effective for the years ended January 1, 2005" (IFRS mandatory ..., p. 2). Soon it will be finished this convergence towards global accounting standards under IFRS (International Financial Reporting Standards) in the United States. This change has a significant impact on the guidance offered (generally accepted accounting principles) financial traditionally GAAP. The following article efforts to complete this transition will be discussed as well as the impact of the adoption of IFRS worldwide.
The convergence between GAAP and IFRS efforts are underway for more than a decade, since 2002, when he accepted Accounting Standards Board and the Council of Financial Accounting Standards join efforts to "eliminate the differences between international standards and accounting principles generally accepted in the United States "(convergence ..., p. 1). Details are presented in this memorandum of decisions known as the Norwalk Agreement understanding. In 2006, the IASB and the Financial Accounting Standards Board has strengthened its commitment to the creation of a "roadmap for convergence 2006-2008", which documents the specific parameters for convergence to be achieved by 2008. Finance and Securities commission (SEC) revision of accounting standards, allowing foreign companies registered in the United States Attached "to reconcile their financial statements with those of the US GAAP, when met International Financial Reporting Standards issued by the Council of International Accounting Standards" (convergence. .., p. 1). This was one of the first major steps taken by the agency of the US government to recognize the global trend towards IFRS conversion. Allowing foreign companies in the United States for the use of IFRS, the SEC approved the accounting principles generally accepted in output and was the future of IFRS. In 2008 it was time for a memorandum of understanding for the upgrade. With a great reception and adaptation international was a note to review in order to keep pace with the changing times and to correct and report problems encountered in its implementation. The creation of new features and stressed the new priorities to focus more on the progress of the convergence. Asked the Group of 20 leaders (G20) that "the standardization bodies to redouble their efforts to complete the convergence of international accounting standards" (convergence ..., p. 1). In November 2009, and published a report by the Council of the International Accounting Standards Board and the standards of financial accounting in detail to intensify their efforts. The report also monthly meetings of the Joint Council will be held as well as the convergence project is updated every three months. It also increases the setting, the only scenarios occur between companies and the discussion and clarification of the request. By February 2013, have become the changes to the development of convergence and timing of incomplete projects more detailed and realistic, and to continue to provide a basis to guide the conduct of the accounting of the authors.

According to the literature of the International Accounting Standard (Dick, Wolfgang graduated 10), which represent the standards of developed countries like the United States, may not be useful for countries in the developing and emerging markets. Because of this inherent conflict, some countries do not have a direct translation of IFRS in accordance with its accounting. Instead, to change and adapt not only the economic level of their country and culture, but also so it makes sense that counters standards are already in country clothes. "Accounting for Mexico has taken an initiative standard setter" fit "generally accepted accounting principles (GAAP) to IFRS, rather than directly to be taken in order to take into account their own legal, political and cultural" (Palacios Manzano, Martínez 21). Mexico is no single model here. Even in generally accepted accounting principles in the United States can not be repealed only in favor of IFRS. Instead, the SEC will work to change the generally accepted accounting principles and as foreign companies, according to financial information, and also work to change the way they relate their money with companies entities and foreign investors ....