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Author: Habeeb Mohamed Nijam
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
The purpose of this study is to examine the perceived impact of International Financial Reporting Standards (IFRS) adoption and whether it relates to firms' characteristics. The study was conducted among all 62 companies listed in bank, finance and insurance sector at Colombo Stock Exchange (CSE) using questionnaires addressed to financial and accounting professionals. The study employed principal component analysis and one-sample Wilcoxon signed-rank test and found that the IFRS adoption is perceived to have significantly improved financial reporting quality and corporate governance of firms. Though IFRS caused increased cost of financial reporting, it is yet perceived to be a net gain. However, respondents tend to perceive that IFRS adoption has not assured capital market benefits to the firms in bank, finance and insurance sector in Sri Lanka. It is also found that firms' size and profitability significantly and positively associate with perceived impact of IFRS on quality of financial reporting and corporate governance of firms. This study provides evidence for IFRS impact from a developing economy.
Author: Habeeb Mohamed Nijam
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
The purpose of this study is to examine the perceived impact of International Financial Reporting Standards (IFRS) adoption and whether it relates to firms' characteristics. The study was conducted among all 62 companies listed in bank, finance and insurance sector at Colombo Stock Exchange (CSE) using questionnaires addressed to financial and accounting professionals. The study employed principal component analysis and one-sample Wilcoxon signed-rank test and found that the IFRS adoption is perceived to have significantly improved financial reporting quality and corporate governance of firms. Though IFRS caused increased cost of financial reporting, it is yet perceived to be a net gain. However, respondents tend to perceive that IFRS adoption has not assured capital market benefits to the firms in bank, finance and insurance sector in Sri Lanka. It is also found that firms' size and profitability significantly and positively associate with perceived impact of IFRS on quality of financial reporting and corporate governance of firms. This study provides evidence for IFRS impact from a developing economy.
Author: Kosgollage Anura Udayakumara
Publisher:
ISBN:
Category :
Languages : en
Pages : 17
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Book Description
The aim of this study is to examine the earnings management behavior of Sri Lankan firms following mandatory adoption of International Financial Reporting Standards (IFRS/SLFRS). Especially, this study investigates whether the mandatory adoption of IFRS/SLFRS in the Sri Lanka has resulted in deterring earnings management for Sri Lankan firms. Prior to the adoption of IFRS/SLFRS for financial years beginning 1 January 2012, Sri Lankan firms reported under Sri Lankan Accounting Standards (SLAS). Thus, this study predicted that the earnings management has decreased significantly after mandatory adoption of IFRS/SLFRS in 2012. The sample this study consists of 157 firms listed on the Colombo Stock Exchange and data were collected from financial years 2009/2010 to 2013/2014. This study uses five individual measures of earnings management relating to earnings smoothing and managing towards earnings targets. Firms are said to have reduced their earnings management if they display lower levels of earnings smoothing and less management towards earnings targets. Contrary to the prediction, the results of this study reveal that Sri Lankan firms exhibit higher level of earnings smoothing after mandatory adoption of IFRS/SLFRS and thereby indicative of higher level of earnings management. However, consistent with the prediction Sri Lankan firms display lower level earnings management in term of less managing towards earning targets. The level of earning management is one aspect of reporting quality of a firm. Therefore, lower level of earnings management is in turn reflecting better reporting quality. Thus, These findings suggest that there is room for further improvement in order to ensure that firms consistently apply the requirement of IFRS/SLFRS and make improvements in all aspects of reporting quality.
Author: PR Weerathunga
Publisher:
ISBN: 9783659808579
Category :
Languages : en
Pages : 152
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Book Description
Author: Habeeb Mohamed Nijam
Publisher:
ISBN:
Category :
Languages : en
Pages : 7
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Book Description
The purpose of this paper is to explore the relationship between and commonalities among recent empirical evidences reported on value relevance of accounting information of listed companies in Sri Lanka. This paper therefore reviews seven recent empirical studies conducted in Sri Lanka on value reverence of accounting information. The review finds that nearly all studies have used price regression model of Ohlson (1995) and thus used book value of equity per share and or earning per share as accounting information to predict market price per share. All studies reviewed have concluded that accounting information of companies listed in Colombo Stock Exchange (CSE) is value relevant. It is hence confirmed that accounting information significantly influence firms' equity valuation in Sri Lanka. It is also deducted that earning parameters which summarize the income statement better explain the share price than book value or similar measures that brief financial position statement. All these studies have covered the periods prior to the accounting reform in 2012 in which Sri Lanka enforced LKAS and SLFRS that were fully converged to respectively IAS and IFRS. It is therefore recommended to investigate the value relevance of accounting information in post IFRS adoption periods and to explore the impact of IFRS adoption on value relevance of accounting information.
Author: Ömer Faruk Bûyûkkurt
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Author: Pauline Weetman
Publisher: Routledge
ISBN: 1351128485
Category : Business & Economics
Languages : en
Pages : 408
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Book Description
As researchers reveal the increasing complexities of accounting practices in emerging economies, there is a growing need for an overview of the topic. The Routledge Companion to Accounting in Emerging Economies is a prestige work offering an introduction to current scholarship in the field, with indications of future directions for enhancing the contribution to knowledge. With regional coverage of key emerging economies such as Brazil, Russia, India and China, the team of contributors analyse issues in accounting in detail, while shedding light on the role of the accounting profession in providing accountability and governance across the developing world. Each chapter is headed up by an internationally recognised author who is a leading expert in designing and implementing research approaches to the topic. Within the team of authors, some are experienced senior contributors while others are developing new avenues of exploration on the basis of high-quality doctoral study. This range of author experience has been deliberately chosen to allow the reader to envisage working in such a team while growing in confidence. This unique reference offers a comprehensive guide to advanced students, academics, practitioners and policy makers on the current state of, and potential developments in, accounting in developing economies globally. This work will be of particular interest to students and researchers looking to identify topics in emerging economies, academics and practitioners seeking convenient access to an unfamiliar area, and established researchers seeking a single repository on the current state of knowledge, current debates and relevant literature.
Author: Habeeb Mohamed Nijam
Publisher:
ISBN:
Category :
Languages : en
Pages : 14
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Book Description
Conventional and commonly held wisdom with respect to the adoption of International Financial Reporting Standards (IFRS) is that they lead to improved financial reporting quality and comparability and thereby favorable economic consequences. There are however contradicting evidences disproving this conventional wisdom or rejecting its gross generalization over the entire jurisdictions harmonizing on IFRS. Driven by this fact, quests for knowledge about the dynamics and contexts that lead to differential effects of IFRS get momentum. In an attempt to explore the insight into the effects of international accounting harmonization by way of IFRS adoption, this paper reviews selected literatures on consequences of IFRS adoption. This review discusses some empirical evidences that have been reported in various countries that include Europe, USA, United Kingdom, Germany, Spain, Norway, Greece, Poland, Belgian, France, Italy, Turkey, United Arab Emirates (UAE), Kuwait, Jordan, China, Malaysia, Australia, Hong Kong, New Zealand, Kenya and Nigeria. Our review focuses on the aspects of value relevance, disclosure quality, cost of capital, earning management and financial statement impact due to the IFRS adoption. This review reveals that economic consequences of IFRS adoption significantly differ across jurisdictions though being its impact reported to be positive in majority of cases. There are also notable number of studies that report indifferent and or negative effects of IFRS adoption. When IFRS studies report mixed evidence with respect to value relevance of book value of equity and earing, book value of equity supersedes the earning parameters. IFRS are found to supersede many other domestic financial reporting standards in terms of volume and quality of disclosures in financial statements. This review also obtains that IFRS' impact on the reduction of cost of capital depends on financial reporting incentives, law enforcement, types of legal systems and various other country and capital market specific characteristics. Further, though there are some evidences to the contrary, the quality of earnings reported under IFRS has been established to be superior to that under other local standards.
Author: Can Öztürk
Publisher: Emerald Group Publishing
ISBN: 1789737613
Category : Business & Economics
Languages : en
Pages : 159
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Book Description
Perspectives on International Financial Reporting and Auditing in the Airline Industry draws on the framework of financial reporting in the global airline industry for the year 2018 and focuses on the airline financial reporting based on IFRSs and audit of airline financial reporting based on International Standards on Auditing.
Author:
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Author: David Procházka
Publisher: Springer
ISBN: 331968762X
Category : Business & Economics
Languages : en
Pages : 469
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Book Description
This proceedings volume analyzes the impact of globalization on international financial flow as well as harmonized financial reporting. Featuring contributions presented at the 18th Annual Conference on Finance and Accounting held at the University of Economics in Prague, this book examines the economic consequences of the globalized world in the sphere of corporate and public finance, monetary systems, banking, financial reporting and management accounting. The global perspective is accompanied by local specific cases studies, including those from emerging markets. In addition, the combination of micro- and macroeconomic approaches provide insights on the behavior of all relevant stakeholders in the process and the results of dynamic pressures surrounding global capital markets and international investments. This book will serve as a useful resource for scholars and researchers, practitioners and policy makers in the fields of finance, economics and accounting.
