Chapter 6 Conclusions

Abstract

The aim of this research monograph was to critically examine accounting development and the convergence process in Germany with a particular focus on examining issues and attitudes concerning the exercise of professional judgments in IFRS that may create constraints in achieving the IASB's objectives. This research monograph had two broad objectives, namely, (a) to enhance our understanding of national accounting developments and the convergence process by showing the importance of taking into account contextual factors, power, and legitimacy and (b) to critically examine issues and perceptions regarding the promotion, interpretation, and application of accounting standards requiring exercise of professional judgment. Based on an evaluation of Gray's framework of accounting values, the first chapter addressed the first objective by providing evidence that reliance on simplistic categorizations neglects the distinctiveness of national accounting models and the factors that shape these models. The second chapter examined convergence in Germany from a neo-institutional perspective and reinforced the importance of taking into account contextual factors and specifically legitimacy and power structures to enhance our understanding of the ongoing convergence process. The last two chapters of this research monograph addressed the second objective by exploring general perceptions toward the exercise of professional judgment and by investigating cross-cultural differences in accountants’ judgments. Specifically, the third chapter provided insights into the determinants of attitudes and concerns regarding the promotion of professional judgment by the IASB, while the fourth and the final chapters of the research monograph provided evidence of differences in accountants’ materiality judgments in Germany and Italy.

Citation

Heidhues, E. and Patel, C. (2012), "Chapter 6 Conclusions", Heidhues, E. and Patel, C. (Ed.) Globalization and Contextual Factors in Accounting: The Case of Germany (Studies in Managerial and Financial Accounting, Vol. 23), Emerald Group Publishing Limited, Leeds, pp. 151-162. https://doi.org/10.1108/S1479-3512(2012)0000023011