In globalization, international accounting standards are an irreversible process, because it is necessary to create a unique, precise and understandable language for different users.
These standards are taken based on developed countries that have been implementing this system (it is believed that its development is due to this).
Developing economies are characterized by having micro, small and medium-sized companies, meaning that their relationship with the outside is little, the adoption of international standards would be unnecessary and complex.
Globalization can be understood as a new phase of expansion of the capitalist system that is characterized by the opening of national economic systems, by the increase in international trade (this implies the elimination of customs borders and the elimination of the common external tariff), the expansion of financial markets, spatial reorganization of production, the permanent search for comparative advantages and competitiveness that gives priority to technological innovation.
Today it can be seen how the media have influenced the economic life of countries, facilitating transactions (it is not necessary to have physical contact).
The foregoing leads many countries to believe that it is necessary to internationalize, which would give a total overturn in the accounting and economic systems that are currently handled in each country.
The use and application of international accounting standards are a couple of irreversible steps in the process of globalization.
Under the promise of economic growth and balance, standardization consists of creating a universal accounting language that is understood by any user and, furthermore, that is a base tool for making economic decisions.
The foundations of standardization are found in those developed countries that have implemented this system; they are living proof that accounting influences the development of a country.
"In developing economies, or" emerging economies. "
In this sense, the implementation in "developing" economies of a complex accounting information system with specialized functions that were designed based on models of developed economies, leads to a break between the economic model and the accounting model.
The modernization of the accounting model cannot be achieved by a decree or a governmental or private decision, but is the result of the combination of multiple internal and external factors, predictable and unpredictable, that develop in the medium and long term.
In this sense, weak economies will not automatically become economically strong due to the implementation of accounting systems in developed economies; on the contrary, it would be an obstacle to an authentic reading of concrete realities. " (Mejia, Eutimio. 2004, pp. 168-169)
Standardization is the accounting information for the employer and not for the State, this looks very good; Because the ideal is to know how the company is doing? What are its shortcomings? How can it improve?
How can it improve ?, etc., but, we must bear in mind that these standards were created by and for developed countries, they have large companies, their exports are very high, their participation in the stock market is excellent, their contact with the exterior is permanent, while the developing countries are the other side of the coin, therefore its adoption would be frustrating because their accounting would be totally different from the one they have been handling for a long time.
It would be excellent if it were done between underdeveloped countries, they would be in the same conditions to compete, and perhaps with it technology, knowledge, education, etc. develop, because the idea of competing is winning and to win you have to strive and innovate. The good thing about competition is this, it opens the mind looking for new strategies, leaving aside the habit, the "habit" is the real problem that does not allow to have an open mind, because it is difficult to change the method with which it has come working for so many years, but having managed to leave the custom behind we can observe an advance in the knowledge and development of the country without the need for risk.
It is concluded that harmonization will serve underdeveloped countries since they would be on an equal footing and therefore it would be a great relief to achieve greater agility in the operation of companies and also achieve high quality standards that in turn provide security to their investors and also credibility in financial reports;
since it is well known that without the confidence of the investor the markets cannot prosper.
conclusion
For underdeveloped countries, the fact of applying international standards in their accounting would imply rethinking all the regulations that govern them, since, as is clear, these international standards are given by countries that concentrate in them a large number of extremely solid companies and also very organized at the accounting level, therefore underdeveloped countries would be given a new accounting birth which would generate confusion and even uncertainty in accounting professionals, since they would then have to unlearn from that knowledge to re-learn what is being raised today with new rules.
Bibliography
Espinosa Florez, German Eduardo. Transparency and comparability: Fundamental premises in international accounting regulation processes. In: Legis de Contador Magazine. N ° 9 (Jan.-Mar. 2002);
Garcia Diez; Julieta and Lorca Fernández; Pedro. Acceptance of international accounting standards: a process not without difficulties. In: from Revista Legis del Contador. N ° 10 (Apr-Jun 2002);
Martínez Pino, Guillermo León. On the subject of accounting globalization and standardization. In: Legis del Contador Magazine. (Apr-Jun 2003); pp. 83-103
Mejia Soto, Eutimio. Critical view of accounting harmonization or standardization. In: Legis del Contador Magazine. (Oct-Dec 2004); pp. 145-179
Rueda Delgado, Rubiela. Description of the differences in Colombian financial accounting that may hinder full convergence with international standards. In: Legis del Contador Magazine
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