1.5 OBJECTIVE OF THE STUDY
The major objective of this study is to identify any
discrepancy in reporting practices among European Commercial banks, using the
EC Directives as a benchmark. Minor objectives include the following:
· To describe the process of accounting harmonization within
the European Community.
· To identify the divergence existing between theory and
practice on financial reporting.
1.6 SIGNIFICANCE OF THE STUDY
Our readers, especially standard setters, may find the results
useful in formulating and adapting strategies for revising existing standards.
We also intended to open some problem areas for future research in order to
widen the focus of knowledge, as demonstrated in existing literature.
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