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

• Autor(a) principal: Mota, Renato Henrique Gurgel
• Data de Publicação: 2016
• Outros Autores: Oliveira, Atelmo Ferreira de, Niyama, Jorge Katsumi, Paulo, Edilson
• Tipo de documento: Artigo
• Idioma: por
• Título da fonte: Revista Ambiente Contábil
• Texto Completo: https://periodicos.ufrn.br/ambiente/article/view/8533

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.