El camino hacia la convergencia. Las normas internacionales de contabilidad y su aplicación al sector eléctrico español

Resum

As business increasingly operate in multiple countries, they face the costs of dealing with diversity in financial reporting requirements. There is a need for reliable and transparent financial reporting from business entities. Major differences in accounting practices act as a barrier for cash-flow. Harmonization will enhance comparability of financial statements, making them easier to use across countries. In 2005, thousands of companies around the world, particularly in Europe, switched from their national accounting standards to International Financial Reporting Standards (IFRSs). Europe requires IFRSs for listed companies starting in 2005 in accordance with Regulation (EC) No 1606/2002 of the European Parliament and of the Council. A common financial language, applied consistently, will enable investors to compare the financial results of companies operating in different jurisdictions more easily and provide more opportunity for investment and diversification. Our main objective relies in analyzing the process of adaptation of the financial statements of the Spanish Electricity Ayala Calvo, J.C. y grupo de investigación FEDRA Conocimiento, innovación y emprendedores: Camino al futuro 717 Industry from Spanish GAAP to International Financial Reporting Standards (IFRS)