Albana Gjoni, Flutura Kalemi & Egra Ibrahimi

The role of accounting has changed during the past 10 years and its writing language has done the same. Since 2005, first date of implementing international accounting standards and the international financial reporting standards, the accounting and financial reporting world has been part of a dynamic transformation which involves all stakeholders of the European economies. In Albania, the banking sector is one of the largest in the national economy and yet also one of the most transparent and regulated one. However, financial reporting of this sector has been always accompanied by uncertainties and inconsistencies, especially during the period of accounting and financial reporting standards implementation. This paper aims to study the implementation of IAS 39, one of the most complex and difficult accounting standard. Albania has approached the implementation of the accounting standards in 2007, but the first year that the financial reporting achieved the main requirements of the international standards is 2008. This study will try to measure the effects on harmonization and comparability because of the changes and flexibility in recording information according to IAS 39, before and after. This study covers the period from 2007 till 2013 and it will be realized using qualitative and quantitative methods.
Keywords: IAS, Banking Sector, Harmonization, Comparability, Financial Reporting, Accounting Role
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