|Convergence of accounting standards and the use of a single set of
accounting standards was one of the major topics in accounting at the
beginning of 21st century. The increase in the cross border capital flows
and the unfortunate accounting scandals ruled out any concerns about
the necessity of globalization in the accounting rules.
|Recently, International Financial Reporting Standards (IFRS)
issued by the International Accounting Standards Board (IASB) stood
up as the solution for accounting globalization. Former International
Accounting Standards Committee was reorganized as IASB in 2001
and started to issue IFRS with an objective of developing “high quality,
understandable, enforceable and globally accepted international
financial reporting standards” . Currently IFRS is either required or
permitted by approximately 120 countries  and is probably the most
widely used accounting standard set.
|The way of doing business undergoes rapid and continuous changes
along with the rapid technological developments. Therefore, financial
reporting standards are also under continuous improvement by IASB
(i.e., IASB issued 4 new standards in 2011, and there are standards
that are revised for more than five times since 2004). Undoubtedly,
few of us will argue against the inevitability of the new standards and
several amendments made to current standards. However frequency of
changes in the standards also raises the following issue of whether all parties are timely informed about the new standards and amendments
and are they ready to implement and use the information provided?
|Although accounting research is sometimes criticized by
practitioners as difficult to reach, hard to understand and apply , I
believe among the objectives of the accounting research should be the
facilitation of communication between academicians and practitioners.
In fact there should be a two-way communication between practitioners
and the academia. This can be achieved by having the results of
accounting research easily accessible by the practitioners as well as the
|Journal of Accounting and Marketing plays a significant role in
that aspect. Being an open access publication, research articles are
disseminated to the global community. Furthermore it is a rapid and
reliable source of information on the current developments in the
accounting field. In addition to its open access feature, digital articles;
audio version-enhanced features; option to translate to more than
50 languages and social networking enhance the dissemination of
accounting research to anyone who is interested.
- Bloom R, Heymann HG, Fuglister J, Collins M (1994) The Schism in Accounting.
Greenwood Publishing Group, Westport, Connecticut, USA.