Fundamental differences between IFRS, EU directives and GAAP: perceptions on accounting elements

Abstract

In the framework of the latest national accounting reforms, especially the years 2014-2015 through the development of „new” accounting standards (SNC), or the harmonization of standards with the provisions of the European Union Directives in 2020, which caused multiple questions in accounting practice and not only, about the divergences between the already „new” standards and the standards updated with the European Union Directives. In this context, the analysis of the ,,doctrines” or currents in the financial accounting field, by comparing the accounting standards, namely: International Financial Reporting Standards (IFRS), European Union Directives (DUE), United States Accounting Standards (GAAP US) ).