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Author: Tofick Shikuri
Publisher:
ISBN: 9783346092373
Category :
Languages : en
Pages : 72
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Book Description
Author: Tofick Shikuri
Publisher:
ISBN: 9783346092373
Category :
Languages : en
Pages : 72
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Book Description
Author: Marenesh Abebe
Publisher: GRIN Verlag
ISBN: 3668651590
Category : Business & Economics
Languages : en
Pages : 78
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Book Description
Thesis (M.A.) from the year 2018 in the subject Business economics - Accounting and Taxes, grade: 2, Addis Ababa University, course: MBA in Finance, language: English, abstract: The study aims to examine the challenges and prospects of International Financial Reporting Standards (IFRS) adoption in Ethiopian Commercial Banks. To answer the research question and to achieve the objective of the study this paper adopted the mixed research approach. The questionnaire data were analyzed using descriptive statistics and data from interview and document review were interpreted qualitatively. The results show that IFRS adoption in Ethiopian Commercial Banks will result in a number of important benefits to a wide range of stakeholders. The study also found out that with the exception of capital market the other five variables namely need of amending legal and regulatory requirement , volatility of financial position and financial performance , difficulty of obtaining source documents and data ,need of updating the existing accounting software, information system and information technology of the bank, shortage of skilled and competent man power , shortage of strong professional bodies are the key challenges of IFRS adoption in Ethiopian Commercial Banks. Finally the study recommended the relevant commercial code, tax proclamation and NBE directive should be amended by Government organs in consultation with strong professional bodies , establishment of strong professional bodies and capital market, allocation of sufficient financial and other resources by top management , introduction of IFRS in colleges and universities and future adopters should think ahead the required source documents and data as well as ensure the extent of changes needed to update the existing IT infrastructure to satisfy IFRS requirements.
Author: Mohamed Zakari
Publisher:
ISBN:
Category :
Languages : en
Pages : 23
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Book Description
This study investigates the challenges that face implementing of International Financial Reporting Standards (IFRS) by Libyan firms. In particular, this paper analyses the effect of legal, economic, accounting education and culture structures on adopting of IFRS in the Libyan context. A questionnaire was used to collect data regarding the effect of some selected challenges on IFRS adoption in Libya. The results of the study indicate that IFRS adoption by Libyan companies has faced some obstacles such as accounting education and economic issues. This research extends accounting literature by studying the challenges of IFRS in Libya (a developing country), focusing on the impact of legal, accounting education, economic and culture in IFRS implementation.
Author: Bahaaeddin Alareeni
Publisher: Springer Nature
ISBN: 3031674448
Category :
Languages : en
Pages : 564
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Book Description
Author: Christopher Patel
Publisher: Emerald Group Publishing
ISBN: 1780524420
Category : Business & Economics
Languages : en
Pages : 177
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Book Description
This research monograph examines whether International Financial Reporting Standards (IFRS) are interpreted and applied in a consistent manner within and across countries, and questions the implicit assumption that accounting convergence will automatically lead to comparability in financial reporting.
Author: Abdulsalam Mas'ud
Publisher:
ISBN:
Category :
Languages : en
Pages : 1
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Book Description
The rapidity in global adoption of International Financial Reporting Standard (IFRS) by more than 120 countries as at September 2011 indicates that harmonization and uniformity in financial reporting throughout the world is attainable. However, despite the opportunities that can be exploited through IFRS adoption some countries encountered some setbacks in the adoption process. Among the problems being encountered are filing a legal action against the standard's adoption, cost implication and low level of preparedness by both governments and standard implementers. For the fact that IFRS adoption is important ingredient to sustainable national development in Nigeria, this paper conducts a SWOT analysis to the impending IFRS adoption in Nigeria. On the strength side Nigeria possesses all the elements needed for IFRS adoption. However, on the weakness side, it was found that there are some flaws in these elements. It was also found that despite the opportunities such as; increased flow of Foreign Direct Investment (FDI), accessing capital by Nigerian companies from abroad and International rating, the country need to be aware of threats such as the level of preparedness, transition cost and the complexity of IFRS. Based on the SWOT analysis conducted, appropriate recommendations were made.
Author: Prasanna Kulkarni
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
The basic objective of any business enterprises is to maximise the profits and create value for the shareholders. In meeting these objectives the management of the enterprise takes various decisions such as investing, financial and operational. The financial effect of these decisions is reflected in the financial statements prepared by the management. The financial statements consist of Profit & Loss Account, Balance Sheet and a cash flow statement.There are a few inherent limitations of the financial statements. The financial statements are prepared on the basis of concepts, conventions, and assumptions and what is more important is - personal judgement. There are different accounting policies and practices in relation to various financial items appearing in the financial statements. Such different accounting policies, even though principally correct may lead to differing profitability and financial positions. To make them comparable, its important to have them on a common platform for which, the Accounting Standards were introduced. There are 32 accounting standards as of today which govern accounting policies to be adopted by these enterprises. The Accounting standards are now replaced by International Financial Reporting Standards. The first time adoption and convergence are main issues related to adoption of IFRS.The applicability of IFRS to telecom industry needs special attention. There are a few unique issues related to application of IFRS to telecom industry. The issues involved consists of adoption of IFRS for the first time, presentation of financial statements, revenue recognition, intangible assets, impairment of non-financial assets, provisions and contingencies etc. The article attempts to review the application of IFRS to telecom industry and issues related thereto.
Author: Solomon Abuba
Publisher:
ISBN:
Category :
Languages : en
Pages : 12
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Book Description
The globalization of economic systems as part of the move towards turning the world to a global village has not left the financial reporting and the accounting system and has propelled the introduction of International Financial Reporting Standard (IFRS). The International Standards of Accounting and Reporting (ISAR) as a professional body set to oversee the implementation and maintenance of IFRS discovered through case studies that the implementation of IFRS in countries with different economic culture have introduced different versions of the IFRS. In line with this, this paper is a critical insight on the adoption of IFRS in Nigeria, looking at its history, benefits, challenges and lessons which will help countries that are yet to adopt IFRS in charting their course; the paper discovered that Nigeria have experienced the benefits of IFRS mostly in its international transaction as a developing nation; that Nigeria is using the gradual convergence method; that some of the local GAAP is conflicting with the IFRS when it gets to local circumstances because some of those domestic financial reporting policies have not been amended to accommodate IFRS; these challenges were surmised under: Existing Laws and Regulations, Costs of Implementation, Technology and Technical Capacity, Level of Awareness, Level of Education and Enforcement. The position of this paper is that the urgency in the adoption of is a positive move towards Nigeria's economic development with better adoption options as a way forward.
Author: Maria Ming Bengtsson
Publisher:
ISBN: 9789178959037
Category :
Languages : en
Pages :
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Book Description
In the past few decades, there has been a global trend of international harmonization of accounting standards, with many countries having either partially or completely replaced their national accounting standards with the International Financial Reporting Standards (IFRS). The intended goal is to remove the barriers that hinder investors when comparing accounting information of companies from different nations, while simultaneously reducing the transaction costs for firms. However, research has shown that countries adopt IFRS unequally, ranging from resistance, partial adoption to full adoption. If the IFRS are not adopted to the same extent around the world, the central purpose of international standards can be compromised, as foreign investors cannot be confident when comparing financial statements. Uneven IFRS adoption could even be harmful to investors who believe that accounting standards have been converged worldwide--when, in fact, financial reporting differences continue to exist across national borders while being covered under the façade of the IFRS.Using China as the case country, this thesis aims to conduct an analysis on the causes of different degrees of IFRS adoption at the national level and to examine how and why such causes affect accounting standard-setters' strategies in the era of international accounting harmonization. To build a holistic view within the complex empirical phenomenon of simultaneous convergence with and resistance to the IFRS, this thesis draws on the influence of neo-institutional theory while integrating the approach from international accounting classification. It puts forward the viewpoint that, in order to comprehend the coexistence of diversified acceptance levels of IFRS, it is necessary to understand the dynamics of the institutional variables that underlie the responses deployed by accounting standard-setters when deciding whether a set of exogenously developed accounting standards can really fit into their domestic institutional settings.The research relies on extensive archival documents. The findings show that the factors influencing China's current convergence status with the IFRS are multifaceted, fluid, and interrelated. The Chinese accounting standard-setters' reaction to the pressure of international accounting harmonization is a strategic response that follows China's national ideology. Furthermore, IFRS convergence in the case of China reflects a cooperation and mutual dependence between the external institutional norm and the adopting organization, rather than a one-sided pressure. The Chinese experience also reveals that the economic incentives embedded in the technical attributes of the IFRS contributed to IFRS acceptance in China.
Author: Maximilian Koch
Publisher:
ISBN:
Category :
Languages : en
Pages : 218
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Book Description
