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All Journal Accounting and Finance Studies
KALUNDU KIMANZI
JOMO KENYATTA UNIVERSITY OF AGRICULTURE AND TECHNOLOGY
Economics, Econometrics & Finance

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Political Influences On Accounting Standards: A Discussion Of GAAP & IFRS ROBERT ODEK; KALUNDU KIMANZI
Accounting and Finance Studies Vol. 3 No. 1 (2023): Issue: January
Publisher : Profesional Muda Cendekia Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47153/afs31.5562023

Abstract

Accounting standards, as expressions of public policy, are not constantly impartial in that they inflict benefits on some individuals in society to the disadvantage of others. This has been as a result of the power play between the US GAAP and the proponents of IFRS. This paper presents the political factors affecting the accounting standard setting. The paper discusses the debate between the adoption of accounting principles (IFRS) or accounting rules (GAAP). It presents the convergence of accounting standards and the future of IFRS.
Co-Authors ROBERT ODEK