The Impact of Determinants on the Adoption of the International Financial Reporting Standard for the Small and Medium-Sized Entities (IFRS for SMEs). PDF Download
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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: 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: 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: Mohammad Nurunnabi
Publisher: Emerald Group Publishing
ISBN: 1801174423
Category : Business & Economics
Languages : en
Pages : 276
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Book Description
Contributions to International Accounting aims to address a vital gap in research by focusing on providing relevant and timely studies on International Financial Reporting Standards implementation for local and international policymakers.
Author: Claudio Pais
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Small and medium-sized entities (SMEs) represent more than 95% of companies worldwide and account for more than 65% of employment. As a move towards SME harmonization, in 2009 the International Accounting Standards Board (IASB) issued the International Financial Reporting Standards (IFRS) for SMEs. Due to the lack of studies on adoption of IFRS for SMEs, we analyze the relationship between macroeconomic factors and countries' decision to adopt IFRS for SMEs. Based on a sample of 84 adopters and non-adopters of IFRS for SMEs, both developed and developing countries, we find evidence that countries without a national set of financial accounting standards for SMEs, with experience of applying IFRS and a common law legal system are more likely to adopt IFRS for SMEs. These results may be due to low transaction costs, the importance of having some knowledge of IFRS reporting given its complexity and belonging to IFRS based countries facilitating adoption of IFRS for SMEs. Additionally, we find that European Union (EU) member countries are less likely to adopt the standard. Knowledge of macroeconomic factors affecting the decision to adopt IFRS for SMEs is useful for the various entities that define international accounting harmonization, such as the IASB, regulators and international accounting firms,since this information can help them to promote worldwide adoption of the standard.
Author: Uchenna, Efobi
Publisher: IGI Global
ISBN: 1466698772
Category : Business & Economics
Languages : en
Pages : 434
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Book Description
International Financial Reporting Standards (IFRS) are internationally-recognized financial reporting guidelines regulated by the International Accounting Standards Board (IASB) to ensure that uniformity exists in the global financial system. In addition to regulating financial reporting, the adoption of IRFS has been shown to impact the flow of foreign capital and trade. Economics and Political Implications of International Financial Reporting Standards focuses on the consequences and determinants of the adoption of the International Financial Reporting Standard (IFRS), which has remained a top issue in International Accounting. This timely publication brings to the forefront issues related to the political and economic influences and impacts of IFRS in addition to providing a platform for further research in this area. Policy makers, academics, researchers, graduate-level students, and professionals across the fields of management, economics, finance, international relations, and political science will find this publication pertinent to furthering their understanding of financial reporting at the global level.
Author: Devrimi Kaya
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
The International Financial Reporting Standard for Small and Medium-sized Entities (IFRS for SMEs) is increasingly being adopted in a number of jurisdictions. Despite the economic importance of non-publicly accountable entities, little is known about what factors influence countries' decisions to adopt IFRS for SMEs. In a unique sample of 128 countries, we find that countries that are not capable of developing their own local generally accepted accounting principles are more likely to adopt IFRS for SMEs. We also provide evidence that in jurisdictions where full IFRS have been applied to private firms, the likelihood of adoption of IFRS for SMEs increases, suggesting that jurisdictions reduce the financial reporting burden on SMEs. Moreover, in line with prior literature, there is evidence that countries with a relatively low quality of governance institutions are more likely to adopt this new set of accounting standards. The results also hold under alternative measures and different estimation approaches. Overall, our results are helpful in understanding the worldwide diffusion of IFRS for SMEs. Standard setters and regulators might consider our study in the future development of accounting harmonisation of non-publicly accountable entities.
Author: Michele Bertoni
Publisher:
ISBN:
Category :
Languages : en
Pages : 11
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Book Description
In 2006 the International Accounting Standards Board (IASB) issued a draft version of the International Financial Reporting Standards for Small and Medium-Sized Entities (IFRS for SMEs), marking an important milestone in the process of accounting harmonization. It is a sign, in fact, that the effects of globalization have reached not only large companies, but also small and medium entities. Many SMEs are already characterized by a high level of internationalization, being greatly influenced by external and international factors. Their reporting framework, however, is strictly rooted in country-specific regulations, and the attempts of harmonizing reporting rules for SMEs within the EU pale in comparison to the results obtained for the financial statements of listed companies. However, there is a need for transparency and comparability in financial reporting for SMEs too, given also the important role played by small and medium-sized entities in most European economies. For example, the presence of SMEs in the Italian context is so important that, in the past, some authors have considered the "dwarfism" of the Italian companies to be an economic advantage. In this paper, we consider the implications of the prospective application of IFRS by European SMEs, highlighting the pros and cons of introducing a differential reporting system for this category of firms. The complications that will be probably introduced in the existing regulatory framework with the adoption of IFRS for SMEs are analyzed, placing an emphasis on the function played by the financial statements of unlisted companies. We argue that the coexistence of a two or even three-tiered structure of accounting regulation could lead to confusion in the users and could also increase the costs of financial reporting for the preparers. Finally, we comment on the decision of the IASB, instead of incorporating specific application criteria in the new standards, to let the single States that are going to implement them to establish the qualitative and quantitative criteria that need to be fulfilled in order to apply the IFRS for SMEs.
Author: International Accounting Standards Board
Publisher:
ISBN: 9781909704107
Category : Financial statements
Languages : en
Pages : 33
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Book Description
Author: Luz Parrondo
Publisher: Edward Elgar Publishing
ISBN: 1803920599
Category : Business & Economics
Languages : en
Pages : 305
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Book Description
Through careful classification of the opportunities and challenges facing current financial regulatory bodies, the Research Handbook on Financial Accounting inspects the financial implications of our ever-changing modern economic and environmental climate.
Author: Joachim Gassen
Publisher:
ISBN:
Category :
Languages : en
Pages : 42
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Book Description
I investigate how the International Financial Reporting Standard for Small and Medium-sized Entities (IFRS for SMEs) contributes to the development of private firm financial reporting. I interview a sample of leading accounting experts from 24 jurisdictions around the globe to understand the role of private firm financial reporting and financial transparency in their jurisdiction as well as the importance of IFRS for SMEs. I find significant variation across jurisdictions in my sample and document that IFRS for SMEs predominantly influenced private firm financial reporting and transparency by serving as a blueprint for national regulatory reforms. In some jurisdictions, IFRS for SMEs has also been adopted as an optional reporting framework. Direct firm-level adoption of IFRS for SMEs has been low in these jurisdictions with the exception of South Africa where it seems to be used relatively widely. Based on my response data, I suggest some potential rationales for my findings and discuss potential reasons for the observed cross-jurisdiction variation in private firm financial transparency and IFRS for SMEs adoption.
