Abstract

GOMEZ V., Mauricio. Evaluating the international financial information standards (IFIS) approach from accounting and control theory. Innovar [online]. 2004, vol.14, n.24, pp.112-131. ISSN 0121-5051.

International business organisation accounting regulation has been directed from an approach which should be evaluated in the light of accounting and control theory. Various criteria adopted in such regulation allow implementing objectives and functions for financial information in markets straying from subsequent and indispensable organisational financial accounting ends, such as productivity. This is problematic, due to financial accounting being the structural basis for a company’s technical-instrumental rationality and is the backbone of other accounting and control systems such as costs and budgets. Control processes and logic making the financial accounting system viable are thus displaced in a regulatory approach, implying adopting a weak conception and structure of corporate government. This document approaches such questions contrasting the international regulatory approach’s strengths and weaknesses from the conceptual basis of the financial accounting subsystem.

Keywords : Accounting theory; accountancy control theory; international accountancy regulation; IFIS; IASB; IAS; IFRS; accountability; stakeholders.

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