Subject. This article discusses the issues related to international accountingas an area of scientific research. Objectives. The article aims to show that at present there is no clear understanding of what international accounting is and why research in this area is needed. Methods. The research is speculative. For the study, I used the dialectical method of scientific knowledge, the method of collecting theoretical and regulatory information, the method of formalization, as well as analysis, synthesis, observation, and comparison. Results. The article defines two visions for the object of international accounting, namely narrow and broad ones, as well as the subject of international accounting. It presents two formalized models: the relationship between the quality of accounting information and the efficiency of capital allocation, and the relationship between the quality of accounting information and the average market value of capital. Using these models as an example, the article shows that modern research does not provide any convincing arguments in favor of the fact that the use of IFRS leads to an improvement in the efficiency of capital allocation in the economy. This problem is a promising area for the development of the research topic. Conclusions and Relevance. In the second half of the 20th century and up to the present, a narrow view dominates in the works in the field of international accounting. The broad view does not resonate among researchers, and therefore many important questions remain unanswered. In many works of researchers, econometrics tools are used to prove (disprove) a particular hypothesis, but there are no regulatory guidelines. The results of the work may be useful to a limited group of specialists in the field of international accounting, institutional theory and financial theory.
Keywords: international accounting, environmental determinism,accounting models, capital market
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