International accounting harmonization

Abstract

This article will show that international accounting harmonization is predominantly harmonization with the Anglo-Saxon accounting model and [disregards] the economic, social and cultural environment of other accounting systems. It intends to show that in France international harmonization has broken down the homogeneity of the accounting model. This process has resulted in a reduction of the social functions of accounting. Finally, it seeks to suggest an approach towards harmonization that will be more respectful of different identities: the mutual recognition of accounting standards with benchmarks.

This new approach would consist of developing a set of international accounting rules that would prescribe a single accounting treatment for each issue covered, but which at the same time would allow companies in each country the choice of publishing financial statements drawn up according to national rules,subject to enclosing the reconciliation schedules with international standards. This approach would enable companies to comply with their own national rules while at the same time ensuring the comparability of their financial statements at an international level.