Accounting standards alter with changes in the business and competition environment in the world. Standards with new approaches appear and in this process emphasize on some concepts (e.g. relevancy) and some principles (e.g. historical cost principle) weakens and strengthens. Countries under the multi aspect pressure of international institutions and more important under the pressure of stakeholders are directed toward accepting IFRS and setting national standards with emphasize on the approach based on principles (concept).changes in the standard setting approach can be observed easily through standard setting process. From 1936 that CAP appeared till now that standards are set by FASB, so many changes have occurred in the standard setting institutions and the approaches that are used by these institutions in gathering financial reporting standards. In the competitive environment and globalization process it seems that the meaning and concept of physical borders fade and homogeneity and comparability of information become more important. Therefore the necessity of accepting and using international financial reporting standards are felt more than before. In this paper we want to analyze the changes process and describe the present situation