The Consequences of Accounting Standardization and Harmonization over the Concept of Financial Position

The concept of financial position and its multiple meanings are often related to the balance sheet, being defined as the financial statement reflecting a company’s financial position at any time, without giving details on what is meant by financial position. The concept of financial position was refined in the conceptual accounting frameworks of FASB, IASB and ASB. Differences in the content of this concept are linguistic, and therefore insignificant. Therefore we propose the following to make an analysis of dimensions and nuances of the concept.