STANDARDS BASED ON PRINCIPLES AND RULES: A COMPARATIVE ANALYSIS OF THE IASB AND FASB STANDARDS

Authors

  • Renato Henrique Gurgel Mota UFERSA
  • Atelmo Ferreira de Oliveira UFRN
  • Jorge Katsumi Niyama UNB
  • Edilson Paulo UFPB

DOI:

https://doi.org/10.21680/2176-9036.2016v8n2ID8533

Abstract

Amid the standards issued by the International Accounting Standards Board (IASB) and Financial Accounting Standards Board (FASB), the present study aims to analyze what are the main standards that the characteristics that lead them to be more based on principles or rules are more evident. To achieve this goal, this paper compares the main standards issued by the IASB and the FASB. These two standard-setting bodies have been chosen because the current literature considers that the standards issued by the IASB and FASB are respectively based on principles and rules. This work is the result of a documentary research and content analysis reveals that the standards of the FASB, although they have a conceptual framework as a basis, have several specific characteristics that allow them to be considered as based on rules. Among the standards studied the detailing characteristic in the rules of the standards issued by the FASB and the presence of bright lines or percentage limits in the operating segments standard, provisions and leasing lead to qualify as rule-based. Since IASB standards as they are less detailed and practically do not have bright lines, leave room for greater professional judgment, that is, have more features on principles standards based.

Keywords:  Principle-based standards. Rule-based standards. IFRS. US GAAP.

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Published

18-04-2016

How to Cite

MOTA, R. H. G.; OLIVEIRA, A. F. de; NIYAMA, J. K.; PAULO, E. STANDARDS BASED ON PRINCIPLES AND RULES: A COMPARATIVE ANALYSIS OF THE IASB AND FASB STANDARDS. REVISTA AMBIENTE CONTÁBIL - Universidade Federal do Rio Grande do Norte, [S. l.], v. 8, n. 2, p. 19–39, 2016. DOI: 10.21680/2176-9036.2016v8n2ID8533. Disponível em: https://periodicos.ufrn.br/ambiente/article/view/8533. Acesso em: 23 nov. 2024.

Issue

Vol. 8 No. 2 (2016): Jul./Dez.

Section

ARTICLES

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