In a world of big multinational corporations, there is a need for trustworthy and comparable financial reporting. One of the biggest contributors to this is the International Accounting Standards Board, they issues accounting standards for listed companies in more than 150 countries. These standards, known as International Accounting Standards and International Financial Reporting Standards, are based on at conceptual framework. The conceptual framework sets out definitions for assets, liabilities, income and expenses. The newest framework, “The Conceptual Framework for Financial Reporting”, from March 2018, have a redefined definition of assets and liabilities, and for the first time a guiding in other comprehensive income. Through time the International Accounting Standards Board have been criticized for having a bias towards the statement of financial position and for being influenced by governments, accounting firms and the big multinational corporations. This thesis sets out to review this criticism of the International Accounting Standards Board and discuss if this has influenced the elaboration of the Conceptual Framework for Financial Reporting. This thesis will discuss, whether the International Accounting Standards Board might have tried to protect themselves, by the individual accounting standards through only using the broadest definitions in the Conceptual Framework for Financial Accounting.
|Uddannelser||Cand.merc.aud Regnskab og Revision, (Kandidatuddannelse) Afsluttende afhandling|