THE EFFECT OF GLOBALIZATION ON THE FINANCIAL REPORTING STANDARDS
KÜRESELLEŞMENİN FİNANSAL RAPORLAMA STANDARTLARINA ETKİSİ

Author : Selami GÜNEY
Number of pages : 61-72

Abstract

Businesses become multinational by globalization eliminates trade barriers between countries and as a result of this the increasing of capital’s international movement that has necessitated the creation of a single accounting system in the World. It has emerged necessity and harmonization of common accounting/financial reporting standards which recognized internationally, thus, a common worlwide accounting language have been used. It has been created and practised national accounting standards that harmonized with internationally standards, increases the quality and reliability of financial informations produced by accounting therefore it is easier to invest in international capital markets by foreign investors. Present study investigates the impacts of the globalization on the financial reporting standards. It has concluded that started to move a step forward on implementation common globally financial reporting standards with IFRS that also accepted in Turkey as worldwide.

Keywords

Globalization, Harmonization, Financial Reporting Standards.

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