Epistemology deals with the definition of knowledge and related concepts, sources, criteria, types of possible knowledge and the degree to which each one is true; as well as the exact relationship between the one who knows and the known object.
It is a second opinion of science, that is why we can relate the epistemological foundations of accounting, knowing that this is a science and in another way it can be said that the accounting exercise has different ways of being seen and applied.
Accounting has covered not only local spaces, but has also achieved a general interest in different countries to be harmonized, thus creating the need to adopt international accounting regulations.
Epistemological approach
Accounting is basic in the development of a country, it is a punctual practice and does not differ from errors, the evidence of financial information should serve as a basis for decision-making and to accurately show the transactions or economic movements of an entity.
Standardizing accounting internationally arises as a need to harmonize accounting practice worldwide, speaking the same language when designing financial statements first in a national environment and then in conjunction with other countries following foreign needs, but without neglecting the states original financial principles and creating accounting principles consistent with international need.
That is why the implementation of a new international accounting model must be created under parameters that validate the issuance of new regulations or standards. For which there are two possibilities: The existence of a universal theoretical body that supports the different regulations in particular environments and the existence of a theoretical framework of justification for each regulated environment.
This accounting model is important in the application of economic policies, it also provides information and controls the results by applying the objectives that come from the same policies.
Regulation should be understood as a process in which many economic agents participate as a result of teamwork, question and answer, analysis of the environment, as long as authoritarian power is not found in the majority.
Epistemology of international accounting regulation
From the epistemology, the international accounting regulation model can be further analyzed. In the Colombian case, the harmonization of accounting standards with international uses and rules is supported by Law 550/99 art. 63, where it is expressed that the information presented to the different users is of quality, timely and adjustable to new standards with the aim of satisfying different markets.
The standardization of international accounting has its own drawbacks, if the adoption of new standards are not accepted within a fair framework and their characteristics of flexibility and uniformity are not taken into account, which help to identify the different environments, they will not be complied with. the desired goal.
A well-planned accounting system is clear about the needs between economies, environments and internal and external factors, which influence accounting practice and help satisfy needs. Likewise, the accounting system must create a different but harmonious function in all environments that use different paradigms.
The globalized economy and the strength of the capital markets have helped standardize accounting, but countries have also lost their autonomy to make certain economic, political and social decisions, this implies the creation of world laws issued by international organizations, limiting them to only supervising their implementation.
As for the current conditions of economic-accounting development, there are different contributions from authors; among which it is worth mentioning Álvarez, 2002: 179 "Accounting has always been at the service of capital, and now it wants to put it at the service of large transactional capital"
The countries of the so-called "third world", especially Latin America, require an economic model that adapts to reality based on minimum criteria of dignity.
The difference between harmonization and standardization is a compilation of different points of view, the first one is a better communication option between countries and the second one means that the procedures of one country should be adopted by the others.
Professor Eduardo Sarmiento Palacio in one of his approaches names that economic growth is not an exclusive phenomenon of supply, and in no way its main cause is technological change and exemplifies with the Colombian economy since its growth depends on the state.
For the application of its own economic model, different countries that share socio-economic objectives and problems must be integrated in order to guarantee its empirical feasibility.
Simultaneously, North American regulation is a response to public and / or private organizations regarding situations of risk to their economic stability. The issuance of these standards is a tool that generates credibility in the operation of economic-commercial activity.
Faced with the internationalization of accounting regulation, it is necessary to analyze the conditions in which such a model is implemented, the regulatory essence, origin, objectives and what drives development must be investigated, in order to reveal what is the real reason for issue standards.
Adopting new accounting standards means acquiring new knowledge and being at the forefront of research, which is why the accounting professional must be willing to change and, furthermore, the work of universities should be aimed at creating active participation among interest groups. for the development of new standards.
Conclusions
As mentioned above, accounting must meet the interests of the environment, both social and economic, setting them ethical and humanistic.
According to the above, Colombia must have a different application scheme from those adopted by industrialized countries, since everything depends on the environment of its application.
Countries must develop their models taking into account their specific needs, without forgetting their autonomy, sovereignty and independence in terms of regulation.
When the accounting system is changed in an environment, it brings with it technical and professional transformations, which can be such as the modification in the preparation of financial statements, the updating of professionals and, in the case of users, they must learn to interpret this information under new criteria.
Universities should be at the forefront of the type of education due to the established changes, which not only represent an advance but also an expense for the different nations, their professionals, universities and society in general.
Regulation is a participatory and complex process involving accounting and non-accounting factors that must participate in the development of standards that help prepare financial information.
Bibliography
Mora Roa Gustavo, Montes Salazar Carlos Alberto; Mejía Soto Eutimio. Effects of international accounting regulation, Armenia Colombia; editorial: University of Quindío; 1st edition; 2005
Montes Salazar Carlos Alberto; Mejía Soto Eutimio, Montilla Galviz Omar de Jesús. Emerging Accounting; Cali, Colombia; Editorial: Universidad Libre- Seccional Cali; 1st edition; 2005
Montes Salazar Carlos Alberto; Mejía Soto Eutimio, Montilla Galviz Omar de Jesús. International accounting harmonization or standardization; Cali, Colombia; Editorial: Cali Free-Sectional University; 1st edition; 2005
See Mora Roa Gustavo, Montes Salazar Carlos Alberto; Mejía Soto Eutimio Effects of International Accounting Regulation, page 94
See Mora Roa Gustavo, Montes Salazar Carlos Alberto; Mejía Soto Eutimio Emergent Accounting, page 184
See Mora Roa Gustavo, Montes Salazar Carlos Alberto; Mejía Soto Eutimio Emergent Accounting, page 190, numeral 3
See Mora Roa Gustavo, Montes Salazar Carlos Alberto; Mejía Soto Eutimio Emerging Accounting, page 192-193, numeral 11
