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TERRA ECONOMICUS

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  • 2014
  • No 2
  • Globalization and its impact on the accounting systems in developing countries in the informational economics

Globalization and its impact on the accounting systems in developing countries in the informational economics

TERRA ECONOMICUS, , Vol. 12 (no. 2),
p. 109-116

Considering the origins of globalization and defining its concept, the paper provides a review of the current research pertaining to understanding the role of globalization process in developing countries economy. In the paper, several issues that require thorough investigation are raised. A cross-disciplinary approach is implemented to show the difference in attitudes to the globalization process. The paper discusses empirical evidence on the economic consequences of this process and investigates its association with the adoption of international accounting standards in developing countries. The main aim is to argue that the influence of globalization on national accounting systems is much more significant in developing countries than in the other world and to suggest the ways of improving the situation. The empirical evidence of prior research leads to consider the information economy resources implications to overcome the difficulties of transition processes in developing countries. These findings are consistent with the hypothesis that the globalization causes the growing interdependence of the countries around the world, and paper contributes to solving the existing problems caused by transition and suggesting ways to improve this process.


Keywords: IFRS; matrix accounting; IT; globalization; international accounting; developing countries

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Publisher: Southern Federal University
Founder: Southern Federal University
ISSN: 2073-6606