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The idea of convergence has roots in the 1950s, and was a response to greater economic integration and international capital flows after World War II. Before the 1990s, convergence took the form of harmonization, the reduction of differences between the various accounting standards used internationally. [2]
"Beta-convergence" on the other hand, occurs when poor economies grow faster than rich ones. Economists say that there is "conditional beta-convergence" when economies experience "beta-convergence" but conditional on other variables (namely the investment rate and the population growth rate) being held constant.
The adoption of IFRS in the European Union is a special case because it is an element of wider reforms aiming to consolidate the economies of member countries. One study reports positive market effects for companies adopting IFRS, but these positive effects occurred even before the transition took place. [ 46 ]
Turkmenistan – As part of its public administration reform project, the Ministry of Finance prepares the adoption of accrual accounting IPSAS. Uganda – Arrangements are underway to commence transition from modified cash basis of accounting to adoption of full accrual IPSAS. A phased implementation approach is planned.
New technological fields may result from the technological convergence of different systems evolving towards similar goals. Convergence brings previously separate technologies such as voice (and telephony features), data (and productivity applications) and video together so that they share resources and interact with each other, creating new ...
Concentration of media ownership, also known as media consolidation or media convergence, is a process wherein fewer individuals or organizations control shares of the mass media. [1] Research in the 1990s and early 2000s suggested then-increasing levels of consolidation, with many media industries already highly concentrated where a few ...
Big bang adoption or direct changeover is when a new system is adopted instantly, with no transition period between the old and new systems. [1] [2] [3]When a new system needs to be implemented in an organization, there are three different ways to adopt this new system: the big bang adoption, phased adoption and parallel adoption.
Technological convergence is the tendency for technologies that were originally unrelated to become more closely integrated and even unified as they develop and advance. For example, watches, telephones, television, computers, and social media platforms began as separate and mostly unrelated technologies, but have converged in many ways into an interrelated telecommunication, media, and ...