The purpose of this paper is to present the "normalization accounting practices" specific anglo-saxon countries, it is devoid of normative reference systems being influenced by operational practice. Accounting rules that define economic evaluation procedures for recording and best practices...

The purpose of this paper is to present the "normalization accounting practices" specific anglo-saxon countries, it is devoid of normative reference systems being influenced by operational practice. Accounting rules that define economic evaluation procedures for recording and best practices...

Although one of the main purposes of International Accounting Standards Board (IASB) is to improve comparability of financial statements by eliminating different accounting treatments applied by companies, International Financial Reporting Standards (IFRSs) still permit choices in accounting...

Financial statements represent an instrument by which relevant information about a company is passed on to its users. Based on the information presented in the financial statements, i.e. information on the financial position and performance of the company, and generated cash flows and capital,...