Analysis and thoughts about main critical and applicative situations in principles IAS/IFRS

università POLITECNICA DELLE MARCHE facoltà di economia “GIORGIO FUà”

Business economy doctorate research

ANALYSIS AND THOUGHTS ABOUT MAIN CRITICAL AND APPLICATIVE SITUATIONS IN PRINCIPLES IAS/IFRS

Supervisor: Chiar. mo Doctorate thesis:

Prof. Stefano Marasca Simone Brancozzi

Abstract

The use of International book-keeping principles IAS/IRFS at a global level can be considered as a direct answer to the well-known phenomenon of “globalization of financial markets”, which generated during the years a growing need to arrange clearly understandable and comparable balance documents, regardless of the book-keeping rules which are in force in the country of the business seat or in the country where the business is dislocate.

This book-keeping innovation brought to the involved business applicative issues and unavoidable growing of costs – personnel adjournament, new software, consulting and so on – by one side.

On the other side the involved businesses hope to improve their plausibility in the economic world, their trustworthiness on the savers and capital markets, the safety of investors and consequently a growth a the economy.

This thesis consideres some distinguishing sides resulting from the adoption of the same, and describes the origin and the evolution of corpus of IAS/IFRS principles and the introduction in the European and Italian rules.

This thesis focuses on the main elements which are different from the present Italian rules, such as the changings in the form and in the substance of balance documents which must be submitted according to the international rules – sometimes the Italian rules do not requires them compulsorily-, the introduction of the principle of fair value in the evaluations – this principle is so strange to the orders of codified law that has not yet a right translation, the different treatment given to the immaterial fixed assets according the introduction of the discipline called impairment test, which has a new praxis compared to the standard ones.

All these themes are treated with regard of doctrinal sides, of the national and international business-economical literature inside of businesses, of practice issues inside of the businesses which uses these principles, through market researches and empirical researches which have analysed how these principles have been used and the outcome they have managed to provide.