Factors Affecting on the Adoption of International Financial Reporting Standards PDF Download
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Author: Hazhar P. Sharif
Publisher:
ISBN:
Category : Accounting
Languages : en
Pages : 81
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Book Description
Author: Hazhar P. Sharif
Publisher:
ISBN:
Category : Accounting
Languages : en
Pages : 81
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Book Description
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: Edilson Paulo
Publisher:
ISBN:
Category :
Languages : en
Pages : 16
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Book Description
Several factors affect the quality of accounting information, such as characteristics of the firm, practices and procedures adopted in the elaboration of the financial statements, corporative governance system, capital market, regulation, among others. Among these factors, it is noteworthy the influence of the accounting standards about the quality of the numbers reported by the firms. Since 2005, the European companies elaborated their consolidated financial statements according to the International Financial Reporting Standards (IFRS), while in Brazil, the process of convergence of national accounting standards to IFRS was promoted just after the approval of the Law no 11.638/07, therefore, after that, the Comitê de Pronunciamentos Contábeis (CPC) approved various Technical Pronouncements which aimed to facilitate the convergence of Brazilian accounting standards to these international rules. Considering that these international accounting standards have a higher quality, it is expected that the IFRS adoption affect positively accounting information quality. Thus, this research aims to analyze the effect of the IFRS adoption in the earnings quality reported by the Brazilian and European public firms, in the period between 2000 and 2011, considering that previous research did not showed a consensus about this topic. Empirical technical models, such as persistence, conservatism, earnings management and accruals errors, were used to reach the proposed objective. The results showed that the quality of accounting information has not significantly improved comparing the period before and after the adoption of the IFRS in Brazil or Europe.
Author: Lee H. Radebaugh
Publisher: John Wiley & Sons
ISBN: 0471652695
Category : Business & Economics
Languages : en
Pages : 520
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Book Description
This text presents international accounting within the context of managing multinational enterprises, focusing on business strategies and how accounting applies to these strategies. This unique approach gives students the opportunity to learn about international accounting from a perspective similar to what they will experience in the business world. The book explains the key factors that influence accounting standards and practices in different countires, and how those factors impact the convergence of standards worldwide. Particular emphasis is given to culture and its unique contribution to accounting standards and practices worldwide. The book focuses on the needs of users of financial and accounting information across borders with the aim of enhancing their understanding of how to use information and make more informed decisions in an increasingly complex and dynamic international business environment.
Author: International Monetary Fund. Fiscal Affairs Dept.
Publisher: International Monetary Fund
ISBN: 1484321154
Category : Business & Economics
Languages : en
Pages : 70
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Book Description
This report evaluates the state of fiscal transparency in Georgia. Georgia has taken important steps to enhance its fiscal transparency practices over the past decade. Fiscal reports have become more comprehensive, with the development of a central government balance sheet and income statement. Fiscal forecasts and budgets have become more forward looking and policy oriented, with the introduction of a four-year medium-term budget framework, formal fiscal objectives, and a program budget classification. In addition, fiscal risk disclosure and analysis have improved dramatically, with the publication of a detailed statement on fiscal risks. At the same time, the evaluation highlights a number of areas where Georgia’s fiscal transparency practices could be further improved.
Author: Dhia D. AlHashim
Publisher: PWS Publishing Company
ISBN:
Category : Business & Economics
Languages : en
Pages : 276
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Book Description
Author: Marvin Müller
Publisher: GRIN Verlag
ISBN: 3668138052
Category : Business & Economics
Languages : en
Pages : 25
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Book Description
Seminar paper from the year 2016 in the subject Business economics - Accounting and Taxes, grade: 81%, University of South Wales, language: English, abstract: The report aims to analyse the opportunities, negative impacts and limitations of adopting IFRS for German SMEs. At first, a classification of SMEs in Germany is given and their current situation is demonstrated. The next passage critically analyses the impact of an introduction of IFRS for SMEs in Germany. The analysis includes investigating if the effect varies in different crucial business factors of SMEs as well as their company type. At last, the results are summarised and recommendations are given.
Author: Luzi Hail
Publisher:
ISBN:
Category :
Languages : en
Pages : 104
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Book Description
Drawing on the academic literature in accounting, finance and economics, we analyze economic and policy factors related to the potential adoption of International Financial Reporting Standards (IFRS) in the U.S. We highlight the unique institutional features of U.S. markets to assess the potential impact of IFRS adoption on the quality and comparability of U.S. reporting practices, the ensuing capital market effects, and the potential costs of switching from U.S. GAAP to IFRS. We discuss the compatibility of IFRS with the current U.S. regulatory and legal environment as well as the possible effects of IFRS adoption on the U.S. economy as a whole. We also consider how a switch to IFRS may affect worldwide competition among accounting standards and standard setters, and discuss the political ramifications of such a decision on the standard setting process and on the governance structure of the International Accounting Standards Board. Our analysis shows that the decision to adopt IFRS mainly involves a cost-benefit tradeoff between (1) recurring, albeit modest, comparability benefits for investors, (2) recurring future cost savings that will largely accrue to multinational companies, and (3) one-time transition costs borne by all firms and the U.S. economy as a whole, including those from adjustments to U.S. institutions. We conclude by outlining several possible scenarios for the future of U.S. accounting standards, ranging from maintaining U.S. GAAP, letting firms decide whether and when to adopt IFRS, to the creation of a competing U.S. GAAP-based set of global accounting standards that could serve as an alternative to IFRS.
Author: Mourad Mroua
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
The objective of this paper is to analyze the cultural, economic and legal factors through the international accounting standard 'IFRS for SMEs' adoption for the Small and Medium- sized Entities. Based on a sample of 82 countries be they adopters and non-adopters of IFRS for SMEs, the results show a positive and significant effect of the Strength Investor Protection, power distance, and legal environment as well as a negative and significant effect of individualism, uncertainty, avoidance, and foreign market size on the IFRS adoption decision for the SMEs case. Nevertheless, masculinity, regulations of securities exchanges, efficacy corporate boards, strength audit and reporting standards reveal insignificant effect on the IFRS adoption decision. Our findings have implications on revising the IFRS for SMEs and will assist in addressing future complications in the IFRS _SMEs adoption decision process by considering cultural dimensions, economic, and legal factors affecting the decision. Besides, our results allow investors to have an idea about the specific environmental characteristics of the countries that have adopted the "IFRS_SME"
Author: Anne B. Fosbre
Publisher:
ISBN:
Category :
Languages : en
Pages : 10
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Book Description
The United States prompt adoption of International Financial Reporting Standards (IFRS) may help to jumpstart the US economy. Investors would be able to make comparisons and evaluate investment opportunities worldwide. US Multinational companies would be able to cut costs. In preparation of financial statements using IFRS the results presented usually portray higher figures. This would help to present more favorable valuations and help to promote growth with improved financial reporting. The result will be more job opportunities, a reduction in uncertainties, and may help to jumpstart the US economy. This paper examines existing differences in required reporting by the SEC as well as other factors affecting the adoption of IFRS in the US. We will review the effects of not adopting IFRS that may have contributed to the delay in the recovery of the US economy and the uncertainty that has been created.
