Abstract

The purpose of this study was to measure the differences between national rules and the international standards,
evaluating and analyzing their effects on the shifting business environment. The unified business information
system will lead to new types of analysis and data, furthermore with the possible integration of new indicators
from the business environment of certain countries. The results show that those businesses which have adopted
international standards achieved higher and statistically significant positive coefficients than those following
local accounting rules. Companies which had adopted accounting standards also provided higher quality and
value relevant accounting information systems. As a further consequence of international accounting standards
adoption, corporate policy and requirements became gradually more clear and transparent – in the same way as
the application and implementation of the standards became more user-friendly.

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