Journal Article

Socio-economic impacts of international accounting standards: an introduction

Yuri Biondi and Tomo Suzuki

in Socio-Economic Review

Published on behalf of Society for the Advancement of Socio-Economics

Volume 5, issue 4, pages 585-602
Published in print October 2007 | ISSN: 1475-1461
Published online October 2007 | e-ISSN: 1475-147X | DOI: http://dx.doi.org/10.1093/ser/mwm011
Socio-economic impacts of international accounting standards: an introduction

More Like This

Show all results sharing these subjects:

  • Moral Philosophy
  • Corporate Social Responsibility
  • Welfare Economics
  • Political Economy
  • Economic Sociology

GO

Show Summary Details

Preview

‘Why discuss accounting in Socio-Economic Review?

‘Because accounting constructs socio-economic reality.’

‘How?!’

‘Theoretically speaking, there should be many ways of doing “account-ing” — an act of explaining business realities to multiple stakeholders of socio-economies. Practically speaking, however, the current trend is to use “Fair Value Accounting” which is considered to be useful particularly for investors, and this is now being globally standardized.’

‘What are the impacts of such new accounting on wider stakeholders and on the socio-economy at large?’

‘Many aspects of our life may have been undemocratically administrated without being noticed, because the Fair Value Accounting is presumed to be fair, while it is not.’

In order to promote discussions over how our socio-economies should be accounted for, this paper introduces, in a reader-friendly manner, problems of the International Accounting Standards (IAS) and the International Financial Reporting Standards (IFRS)1, and calls for diverse perspectives of future research.

Keywords: politics of accounting regulation; sociology of accounting; UNIAS project; corporate finance; financialization; business economics; A12 relation of economics to other disciplines; M41 accounting; Z13 economic sociology; economic anthropology

Journal Article.  6911 words.  Illustrated.

Subjects: Moral Philosophy ; Corporate Social Responsibility ; Welfare Economics ; Political Economy ; Economic Sociology

Full text: subscription required

How to subscribe Recommend to my Librarian

Users without a subscription are not able to see the full content. Please, subscribe or login to access all content.