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1
James George, Apochi, and Mustapha Lateef Olumide. "IFRS Adoption and Financial Reporting Quality in Nigeria: A Conceptual Approach." European Journal of Accounting, Auditing and Finance Research 10, no. 6 (May 15, 2022): 9–18. http://dx.doi.org/10.37745/ejaafr.2013/vol10n6pp918.
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The adoption of International Financial Reporting Standards (IFRSs) in different countries of the world have become a contemporary issue particularly with regard to the reliability of financial reports. The conceptual and empirical examination of the IFRS adoption and financial reporting quality across different sectors and countries. The study established that some studies used positive approach and some used positive paradigm. Studies used either of primary or secondary source of data, while some used mixed approach. The study found that IFRS adoption are determined by comparing the parameters concerned between pre and post IFRS regimes in given jurisdictions. The review concept and empirical evidences of IFRS adoption and financial reporting quality from many countries reveals that economic consequences of IFRS adoption significantly differ across jurisdictions though its impact has been reported to be positive in majority of studies. Also, few studies report indifferent and negative effects of IFRS adoption on financial reporting quality. The study found that it is argued that IFRS is more financial position focused. It is also observed that the impact of mandatory adoption of IFRS tends to be greater disputed than that caused by voluntary IFRS adoption. In addition, IFRS adoption are found to supersede many other domestic financial reporting standards such as Statement of Accounting Standard (SAS) in Nigeria.
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Inusah, Nasiru, and Joseph Yaw Dwommor. "IFRS Adoption in Ghana: The Dimensions of Challenges Firms Encounter." International Journal of Accounting and Financial Reporting 7, no. 2 (December 10, 2017): 194. http://dx.doi.org/10.5296/ijafr.v7i2.12028.
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The study seeks to identify challenges of IFRSs adoption firms encounter firms in the context of Ghana and the factors underlining these challenges. Structured questionnaire items were use to investigate the dimensionality of challenges firms encounter in a mandatory IFRS adoption situation using a sample of 88 finance officers of unlisted firms in Ashanti Region of Ghana. It is found that firms in Ghana do encounter some challenges in adopting IFRS. Notable among these challenges are correct application of IFRS, knowledge and expertise in IFRS, resistant to change, compatible software packages, integrating IFRS into existing systems and regulation enforcement. It is also found that the challenges of IFRS adoption in Ghana may be explained by five factors namely: IFRS Complexity, Knowledge and Expertise, Regulation, System and Processes, and Institutional Support. Cost could not be confirmed as a factor of IFRS adoption challenges, however, evidence suggest that cost as a challenge of IFRS adoption may be explained by the cost driver. It is therefore recommended that accounting education and training curricula in Ghana should be revised to reflect the changes in reporting standards and local accounting professional bodies should provide guidelines on the application of apparently difficult standards to local situations.
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Szigel, Gábor. "Az IFRS 9 prociklikus hatásainak szemléltetése egy, a magyar bankrendszerre végzett szimulációs gyakorlaton keresztül." Hitelintézeti szemle 20, no. 2 (2021): 60–90. http://dx.doi.org/10.25201/hsz.20.2.6090.
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Az IFRS1 9 számviteli standardnak a prociklikus banki viselkedést erősítő hatása a standard bevezetése óta a viták középpontjában áll. Ezekhez csatlakozva, egyedi megközelítésű szimulációs gyakorlatunkban azt vizsgáljuk, hogy a magyar bankrendszer a 2008–2013 közötti válságepizód során milyen veszteség- és tőkepályával szembesült volna, ha a nemzetközi szinten később elfogadott IFRS 9 már ekkor is hatályos. Ennek során visszamenőlegesen megbecsültük a magyar bankrendszer IFRS 9 szerinti értékvesztését. Az eredmények azt mutatják, hogy az IFRS 9 bevezetése jelentős mértékben előbbre, a válság elejére hozta volna a nagyobb veszteségek számviteli megképzését. Ennek hatására a bankrendszer tőkemegfelelési mutatója a 2008. év végén több mint 20 százalékkal (2,7 százalékponttal) lett volna alacsonyabb (11,8 helyett 9,1 százalék). Emiatt a bankok tulajdonosainak jóval hamarabb kellett volna a valóságban öt válságévre elhúzott tőkeemeléseket végrehajtani, vagy nagyobb mérlegalkalmazkodásra kényszeríteni a bankjaikat. Eredményeink egybevágnak a szakirodalom megállapításaival, miszerint az IFRS 9 bevezetése oly módon növeli a banki értékvesztés prociklikusságát, hogy a veszteségek elszámolását a válságepizódok eleje felé tolja (de nem a válság beköszöntése elé!). Bár az IFRS 9 szimulációnkban bemutatott prociklikus hatása viszonylag nagy, ezt a 2008-as hazai válságepizód különleges mélysége és összetettsége – egyszerre szuverén-, banki és devizahitel-válság – magyarázza. Ebből arra is lehet következtetni, hogy „normál” recessziós körülmények között az IFRS 9 prociklikus hatásai könnyebben kezelhetők.
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Zimmermann, Lauren, Subarna Bhattacharya, Soumik Purkayastha, Ritoban Kundu, Ritwik Bhaduri, Parikshit Ghosh, and Bhramar Mukherjee. "SARS-CoV-2 Infection Fatality Rates in India: Systematic Review, Meta-analysis and Model-based Estimation." Studies in Microeconomics 9, no. 2 (November 22, 2021): 137–79. http://dx.doi.org/10.1177/23210222211054324.
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Introduction: Fervourous investigation and dialogue surrounding the true number of SARS-CoV-2-related deaths and implied infection fatality rates in India have been ongoing throughout the pandemic, and especially pronounced during the nation’s devastating second wave. We aim to synthesize the existing literature on the true SARS-CoV-2 excess deaths and infection fatality rates (IFR) in India through a systematic search followed by viable meta-analysis. We then provide updated epidemiological model-based estimates of the wave 1, wave 2 and combined IFRs using an extension of the Susceptible-Exposed-Infected-Removed (SEIR) model, using data from 1 April 2020 to 30 June 2021. Methods: Following PRISMA guidelines, the databases PubMed, Embase, Global Index Medicus, as well as BioRxiv, MedRxiv and SSRN for preprints (accessed through iSearch), were searched on 3 July 2021 (with results verified through 15 August 2021). Altogether, using a two-step approach, 4,765 initial citations were screened, resulting in 37 citations included in the narrative review and 19 studies with 41datapoints included in the quantitative synthesis. Using a random effects model with DerSimonian-Laird estimation, we meta-analysed IFR1, which is defined as the ratio of the total number of observed reported deaths divided by the total number of estimated infections, and IFR2 (which accounts for death underreporting in the numerator of IFR1). For the latter, we provided lower and upper bounds based on the available range of estimates of death undercounting, often arising from an excess death calculation. The primary focus is to estimate pooled nationwide estimates of IFRs with the secondary goal of estimating pooled regional and state-specific estimates for SARS-CoV-2-related IFRs in India. We also tried to stratify our empirical results across the first and second waves. In tandem, we presented updated SEIR model estimates of IFRs for waves 1, 2, and combined across the waves with observed case and death count data from 1 April 2020 to 30 June 2021. Results: For India, countrywide, the underreporting factors (URF) for cases (sourced from serosurveys) range from 14.3 to 29.1 in the four nationwide serosurveys; URFs for deaths (sourced from excess deaths reports) range from 4.4 to 11.9 with cumulative excess deaths ranging from 1.79 to 4.9 million (as of June 2021). Nationwide pooled IFR1 and IFR2 estimates for India are 0.097% (95% confidence interval [CI]: 0.067–0.140) and 0.365% (95% CI: 0.264–0.504) to 0.485% (95% CI: 0.344–0.685), respectively, again noting that IFR2 changes as excess deaths estimates vary. Among the included studies in this meta-analysis, IFR1 generally appears to decrease over time from the earliest study end date to the latest study end date (from 4 June 2020 to 6 July 2021, IFR1 changed from 0.199 to 0.055%), whereas a similar trend is not as readily evident for IFR2 due to the wide variation in excess death estimates (from 4 June 2020 to 6 July 2021, IFR2 ranged from (0.290–1.316) to (0.241–0.651)%). Nationwide SEIR model-based combined estimates for IFR1 and IFR2 are 0.101% (95% CI: 0.097–0.116) and 0.367% (95% CI: 0.358–0.383), respectively, which largely reconcile with the empirical findings and concur with the lower end of the excess death estimates. An advantage of such epidemiological models is the ability to produce daily estimates with updated data, with the disadvantage being that these estimates are subject to numerous assumptions, arduousness of validation and not directly using the available excess death data. Whether one uses empirical data or model-based estimation, it is evident that IFR2 is at least 3.6 times more than IFR1. Conclusion: When incorporating case and death underreporting, the meta-analysed cumulative infection fatality rate in India varied from 0.36 to 0.48%, with a case underreporting factor ranging from 25 to 30 and a death underreporting factor ranging from 4 to 12. This implies, by 30 June 2021, India may have seen nearly 900 million infections and 1.7–4.9 million deaths when the reported numbers stood at 30.4 million cases and 412 thousand deaths (Coronavirus in India) with an observed case fatality rate (CFR) of 1.35%. We reiterate the need for timely and disaggregated infection and fatality data to examine the burden of the virus by age and other demographics. Large degrees of nationwide and state-specific death undercounting reinforce the call to improve death reporting within India. JEL Classifications: I15, I18
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Sharma, Sharad, Mahesh Joshi, and Monika Kansal. "IFRS adoption challenges in developing economies: an Indian perspective." Managerial Auditing Journal 32, no. 4/5 (April 4, 2017): 406–26. http://dx.doi.org/10.1108/maj-05-2016-1374.
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Purpose This study aims to examine the perceptions of accounting practitioners and users about implementation challenges with International Financial Reporting Standards (IFRSs) at the pre-implementation stage. Under institutional pressures, India conveyed its decision to implement IFRS beginning 1 April 2016, despite initial reluctance to adopt IFRS. It specifically explores the responses of accounting professionals (preparers) and the banking industry professionals (users) in India to challenges in IFRS implementation, rather than more widely researched dimensions of IFRS implementation such as reasons for adoption, experience effects and diversity in practice. Design/methodology/approach A quantitative research approach was adopted, using a questionnaire survey that provided 192 responses from accounting practitioners and banking professionals working in India. Findings The findings convey IFRS implementation preparedness perceptions of participants with respect to education, training and information technology (IT) infrastructure. Respondents acknowledged the efforts and capability of the accounting body, the Institute of Chartered Accountants of India, but expressed reservations about training, cost, interpretation, IT infrastructure and staffing. The accounting practitioners and the users have similar perspectives on the subject of awareness and preparedness challenges of IFRS implementation. Practical implications The study heightens awareness of the challenges facing jurisdictions who express initial reluctance, although they ultimately decide to adopt IFRS on account of institutional pressures. The analysis suggests that the International Accounting Standards Board should increase focus on implementation issues, in addition to updating and making IFRSs. Originality/value The study is distinct from the studies in abundance on the creation of accounting standards, implementation benefits and their implication in a specific geography.
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Singhania, Monica, and P. K. Gupta. "Globalisation of accounting standards and competitive posture of Indian companies." Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis 59, no. 2 (2011): 279–90. http://dx.doi.org/10.11118/actaun201159020279.
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Unification of the global financial reporting system is essential to enable comparability of financial statements at the international level in post crisis competitive environment. IFRSs are increasingly gaining acceptance as global accounting standards. With European Union adopting the IFRS in 2005, as on date over 116 countries have already either converged their accounting standards with IFRS or adopted IFRS as such and many more are in the process. Countries refusing IFRS are likely to be viewed as more risky by the international investors thereby affecting the inflow of capital to such countries. In India, the Institute of Chartered Accountants of India (ICAI) the apex body dealing with accounting standards has declared the roadmap of IFRS convergence in a phased manner from April 1, 2011. Our paper highlights the status of Indian accounting standards converging to IFRS as of now. In addition, a full fledged theoretical framework is developed showcasing, the convergence timeline, the major differences in the treatment of select items under these two alternative accounting environments, exact stage at which the Indian accounting standards are today in view of the announced convergence to IFRS and the legal and regulatory issues in converging to IFRS in India. We investigate the case of 150 odd firms and show the impact of convergence on financial ratios and the related valuation concerns. Finally, we indicate the strategic implications of IFRS adoption to Indian companies.
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Wagaw, Yitayew Mihret, Dessalegn Getie Mihret, and Degefe Duressa Obo. "IFRS adoption and accounting regulation in Ethiopia." Accounting Research Journal 32, no. 4 (November 4, 2019): 662–77. http://dx.doi.org/10.1108/arj-02-2017-0033.
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Purpose The purpose of this study is to examine international financial reporting standards (IFRSs) adoption in Ethiopia to explain transnational political-economic antecedents of this change and its associated consequences on the regulatory landscape of accounting. Design/methodology/approach Using a neo-Gramscian theory of globalization and the state, the study examines interview and document review evidence pertaining to IFRS adoption in Ethiopia by focusing on the period from 1991 to 2014. Findings The study illustrates that a dialectical rather than deterministic interaction between global and national forces explains IFRS adoption in Ethiopia, i.e. IFRS adoption falls within the broader scheme of universalizing regulatory institutions in the globalizing world economy. Compared to the commonly understood trends of IFRS adoption circumscribed within a pre-existing regulatory framework, this study illustrates IFRS adoption as a primary driver of major reforms to the accounting regulatory landscape. Originality/value This study contributes original theoretically grounded insights into the transnational political-economic rationale for IFRS adoption and consequences of the adoption on the accounting regulatory landscape.
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Luchko, Mykhaylo, and Nataliya Melnyk. "IFRS-reporting: practical aspects of transition." Herald of Ternopil National Economic University, no. 4(94) (December 3, 2019): 42–53. http://dx.doi.org/10.35774/visnyk2019.04.042.
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Introduction. Currently, the adoption of IFRS has become both an objective reality and a legal requirement for many domestic enterprises. International standards are a prerequisite for the formation of common approaches and objectives of financial statements, IFRS are focused on the presentation of real and objective accounting and reporting information about the financial position, as well as allow an impartial assessment of the opportunities and prospects of the enterprise. However, the implementation of IFRS requires amendments to the applicable regulations, national standards, clarification of terminology, development of practical recommendations, definition of tools and timing of the transition. As a significant expansion of the IFRS reporting segment is underway in Ukraine, new challenges, tasks, risks for practitioners and the professional accounting community are emerging. Purpose. The purpose of the article is to study the issues, practical aspects and methods of transition to the International Financial Reporting Standards, taking into account the requirements and changes of the current legislation, research of the categories, composition and structure of IFRS reporting. Methods. The methodological and informational basis of the research are regulations, scientific works, periodicals, open data from the Internet. Methods based on general and specific approaches to the study of economic phenomena, facts and processes were applied in the study, in particular: the dialectical cognition method (when summarizing the factors influencing the formation of IFRS financial statements), inductive (to transit from empirical data to practical use of IFRS requirements for systematic reporting, generalizations and conclusions that give an overview of the issues of IFRS reporting) and deductive (in the process of theoretical comprehension of the objectivity of the transition to IFRSs and obtaining partial conclusions to address the practical problems of such transition). Results. As a result of the study, the authors outlined the legal requirements for the content and structure of the first IFRS financial statements and their impact on the consistency and order of IFRS reporting; the practical stages of transition to IFRS have been identified and characterized; parallel accounting, translation and transformation have been described and critically evaluated as methods of financial reporting in the transition to IFRSs. It is emphasized that the transition to IFRS is not only associated with technical difficulties, but also complicates the organization of accounting services at the enterprise and influences management processes that rely on accounting reports and indicators. The problems of hiring qualified personnel, accountants training or involvement of outsourcing consultancies are considered. Recent developments concerning the Financial Reporting System (FRS) in electronic format on the XBRL standard for entities transitioning to IFRS have been analyzed. Discussion. Further research should be performed on the basis of domestic and international experience, taking into account the impact of IFRS implementation synergistic effect for different categories of businesses, and issues of practical implementation of financial reporting systems (FRS) in electronic format on the XBRL standard.
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V N, Sruthiya. "International Financial Reporting Standards Implementation in India: Benefits and Problems." IRA-International Journal of Management & Social Sciences (ISSN 2455-2267) 6, no. 2 (March 9, 2017): 292. http://dx.doi.org/10.21013/jmss.v6.n2.p13.
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<p><em>International Financial Reporting Standard (IFRS) introduced by the International Accounting Standards Board (IASB is international financial reporting standard. IFRS is a single set of high quality, understandable and enforceable global accounting standards. It is a "principles based" set of standards which are drafted lucidly and are easy to understand and apply. IFRSs were adopted first time in 2005 by EU (European Union) and are now accepted or required in more than 120 countries. In India, this is in an implementation stage. This paper tries to study the implementation problems in India and make suggestions to solve the problems. The important implementation problems are cost, lack of awareness about IFRS among investors, and no uniformity in accounting guidance issued by various regulators (SEBI, IRDA, RBI) in India. The suggestions are to provide proper training and education to accounting professionals and employees about IFRS; Government has to reform the taxation system to match with IFRS. </em></p>
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Simorangkir, Panubut. "ANALISIS PERBEDAAN RELEVANSI NILAI DARI NILAI BUKU EKUITAS DAN LABA PER LEMBAR SAHAM TERHADAP HARGA SAHAM PADA PERIODE SEBELUM DAN SESUDAH PENERAPAN SAK BERBASIS IFRS." Jurnal Equity 19, no. 1 (June 30, 2016): 53. http://dx.doi.org/10.34209/.v19i1.476.
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This study was conducted to examine whether the implementation of GAAP-IFRS based results of any difference relevance of equity book value and share earnings, using the market price of the stock as the dependent variable, the equity book value and share earnings as an independent variable, and the periods before and after the application of GAAP-based IFRS. The analysis uses panel data regression analysis with random effects models. This research was conducted on 51 manufacturer companies listed on the Stock Exchange the period prior to the application of IFRS-based IFRSs 2008-2010 and after the application of GAAP-IFRS based in 2012-2014. The study found that in the period of after the implementation of GAAPIFRS based the relevance of equity book value increased against the market price of the shares, while the relevance of share earnings experienced a significant decrease in stock market prices
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Simorangkir, Panubut. "ANALISIS PERBEDAAN RELEVANSI NILAI DARI NILAI BUKU EKUITAS DAN LABA PER LEMBAR SAHAM TERHADAP HARGA SAHAM PADA PERIODE SEBELUM DAN SESUDAH PENERAPAN SAK BERBASIS IFRS." Equity 19, no. 1 (June 30, 2016): 53. http://dx.doi.org/10.34209/equ.v19i1.476.
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This study was conducted to examine whether the implementation of GAAP-IFRS based results of any difference relevance of equity book value and share earnings, using the market price of the stock as the dependent variable, the equity book value and share earnings as an independent variable, and the periods before and after the application of GAAP-based IFRS. The analysis uses panel data regression analysis with random effects models. This research was conducted on 51 manufacturer companies listed on the Stock Exchange the period prior to the application of IFRS-based IFRSs 2008-2010 and after the application of GAAP-IFRS based in 2012-2014. The study found that in the period of after the implementation of GAAPIFRS based the relevance of equity book value increased against the market price of the shares, while the relevance of share earnings experienced a significant decrease in stock market prices
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Bohušová, Hana. "General aaproach to the IFRS and US GAAP convergence." Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis 59, no. 4 (2011): 27–36. http://dx.doi.org/10.11118/actaun201159040027.
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Two most significant organizations in the field of financial reporting regulation setters in the world – the Financial Accounting Standard Board (FASB) and the International Accounting Standards Board (IASB) have recognized that in order international capital markets to function properly, a single set of high-quality international accounting standards designed especially for listed companies around the world must exist. The effort should be especially aimed at spreading the IFRS around the world and the FASB – IASB Convergence. The most significant difference between the US GAAP and IFRSs is in the area of the general approach. The IFRSs are based on basic accounting principles with limited application guidance, US GAAPs are based especially on rules with specific application guidance. The main objective of this work is to assist in the development of an improved common conceptual framework that provides a sound foundation for developing future accounting standards.The structure of the paper is divided into three parts. The theoretical background presents the historical development of the IAS/IFRS and US GAAP convergence efforts in general. The second part of the paper is aimed at the comparative analysis of conceptual frameworks (the IAS/IFRS and US GAAP). At the end, based on the results of the comparative analysis, the basic principles for a common conceptual framework, which should be applicable, are clarified. The paper uses the standard methods of scientific work. Firstly, the method of description is used to describe the development in the area of IAS/IFRS and US GAAP convergence. Then, a comparative analysis is used to discuss the differences in the position a principles of conceptual frameworks the IAS/IFRS and US GAAP. At the end the method of synthesis, deduction and induction is used.
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Nalukenge, Irene. "Board role performance and compliance with IFRS disclosure requirements among microfinance institutions in Uganda." International Journal of Law and Management 62, no. 1 (March 16, 2020): 47–66. http://dx.doi.org/10.1108/ijlma-08-2017-0195.
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Purpose The purpose of this paper was twofold. First, to explore the currently performed board roles. Second, to investigate the relationship between board role performance and compliance with international financial reporting standard (IFRS) disclosure requirements among microfinance institutions (MFIs) in Uganda. Design/methodology/approach This study used a mixed methods research design. The relationship between board role performance and compliance with IFRSs requirements was tested using Partial Least Squares. Confirmatory Factory Analysis and interviews were conducted to establish the performed board roles. Findings The findings suggest that among the known board roles of strategic, service and control, the control role is mostly performed. Results further suggest that board role performance is a significant predictor of compliance with IFRS disclosure requirements. In terms of control variables, MFI size and membership to the Association of Microfinance Institutions of Uganda were significant. Other control variables (liquidity, leverage and profitability) are not significantly associated with compliance with IFRS disclosure requirements. Research limitations/implications Compliance with IFRS disclosure requirements was based on one financial year owing to a lack of data for many years. Practical implications The results are important for governing boards regarding improving compliance with IFRS disclosure requirements. The results specifically suggest that MFIs’ boards must focus on performing the control role if compliance with IFRS disclosures requirements is to improve. Originality/value This paper is original because it uses perceptions to measure board role performance, unlike previous studies that used proxies such as board size and proportion of non-executive directors to infer board role performance. The study also reveals that it is only the control role that is important in enhancing compliance with IFRS disclosure requirements. Such evidence does not currently exist.
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Szigel, Gábor. "Procyclical Effects of IFRS 9 – Illustrated by a Simulation on the Hungarian Banking System." Financial and Economic Review 20, no. 2 (2021): 60–90. http://dx.doi.org/10.33893/fer.20.2.6090.
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The impact of the IFRS1 9 accounting standard on amplifying procyclical bank behaviour has been hotly debated since the introduction of the standard. This paper contributes to the debate by a unique simulation, in which we estimated, what the losses and capital position of the Hungarian banking system would have been during the 2008–2013 crisis episode if at international level subsequently adopted IFRS 9 had already been in effect at that time. Our results show that IFRS 9 would have led to the recognition of losses, which would have been more concentrated in the beginning of this crisis episode, (but not early enough, in the pre-crisis period). As a result, the banking system’s aggregated capital adequacy ratio would have been more than 20 per cent (2.7 percentage points) lower at the onset of the crisis (end of 2008) than it was in reality (9.1 per cent rather than 11.8 per cent). This could have forced bank owners to undertake capital increases sooner and in larger amounts or to push their banks towards even stronger deleveraging, i.e. towards more procyclical behaviour. Our results are in line with the findings in the literature that the introduction of IFRS 9 increases the procyclicality of banks’ impairments in such a manner that it shifts the recognition of impairments towards beginning of crises (but not towards pre-crisis periods!). Although the procyclical effect of IFRS 9 demonstrated in our simulation is quite large, this is attributable to the special depth and complexity of the 2008 crisis episode in Hungary, which involved a sovereign crisis, a banking crisis and a credit crunch at the same time. Thus, our results suggest that the procyclical impact of IFRS 9 can be more easily managed under ‘normal’ recession circumstances
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Bova, Francesco, and Raynolde Pereira. "The Determinants and Consequences of Heterogeneous IFRS Compliance Levels Following Mandatory IFRS Adoption: Evidence from a Developing Country." Journal of International Accounting Research 11, no. 1 (January 1, 2012): 83–111. http://dx.doi.org/10.2308/jiar-10211.
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ABSTRACT The adoption of international accounting standards, namely the IFRS, at the country level has sparked two contrasting, but not mutually exclusive, viewpoints. One view is that IFRS engenders better reporting standards, and uniform adoption allows for greater comparability. The upshot is that IFRS adoption will improve a firm's information environment and hence contribute toward a lower cost of capital. The alternative view is that disclosure quality is shaped by political and economic forces, and hence higher-quality accounting standards will not necessarily translate into higher-quality reporting. We empirically evaluate these arguments on IFRS adoption using both private and public-traded firm observations from Kenya, a developing country with relatively open capital markets but limited enforcement resources. Our analysis takes advantage of a unique dataset involving firm-specific measurements of IFRS compliance. We find that while both private and public firms are required to adhere to IFRS, public, rather than private firms, exhibit greater IFRS compliance. Highlighting the influence of capital market openness, we find that foreign ownership is positively and significantly correlated with IFRS compliance. Probing the underlying causal relationship, additional analysis suggests that greater foreign ownership leads to greater IFRS compliance. Examining the effects of IFRS compliance, higher compliance is positively associated with share turnover. Overall, our evidence illustrates both the importance of economic incentives in shaping IFRS compliance and the capital market benefits to being compliant with IFRS in a low enforcement country. JEL Classifications: M41; M44; M47; G15; G38.
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Khlif, Hichem, and Imen Achek. "IFRS adoption and auditing: a review." Asian Review of Accounting 24, no. 3 (September 12, 2016): 338–61. http://dx.doi.org/10.1108/ara-12-2014-0126.
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Purpose The purpose of this paper is to review the empirical research literature dealing with International Financial Reporting Standards (IFRS) and auditing. The authors identify four main topics related to the effect of IFRS adoption on audit fees, audit market and audit report lag and the influence of auditor choice on IFRS compliance. Design/methodology/approach For each reviewed stream of research, the authors present its theoretical underpinning and summarize its main results. Findings Based on 26 empirical studies, the review reveals four main findings. First, IFRS adoption is associated with increased audit fees. Second, IFRS adoption has had an effect on audit market through auditor choice, audit switching and audit market concentration. Third, IFRS adoption has increased audit report lag. Finally, the authors document that audit quality, as proxied by auditor type, may play an important role in enforcing the compliance with IFRS. Practical implications For regulators the review highlights that IFRS adoption is associated with several effects dealing with audit cost (audit fees), audit efficiency (audit report lag) and may benefit audit firms with international affiliation compared to local ones and this may inform regulators in settings that plan to adopt IFRS in the future. Originality/value This literature review represents a historical record and an introduction for researchers who aim to investigate this topic in the future since the authors provide specific guidance for future research avenues for these reviewed strands of research and other unexplored topics related to auditing and IFRS.
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Chu, Jaeyon, Kyongsun Heo, and Jinhan Pae. "Does a Firm’s Corporate Governance Enhance the Beneficial Effect of IFRS Adoption?" Sustainability 11, no. 3 (February 8, 2019): 885. http://dx.doi.org/10.3390/su11030885.
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Prior literature suggests that the effect of adopting the International Financial ReportingStandards (IFRS) could vary by country-specific or firm-specific factors. In particular, we focus onthe effect of the strength of corporate governance of a firm, a firm-specific characteristic, prior tothe adoption of IFRS. Specifically, we use the Korea Corporate Governance Stock Price Index, ametric for the corporate governance structure in Korea, to examine whether the corporategovernance structure influences the effect of IFRS adoption on the analyst’s earnings forecasts inKorea. We find that the beneficial effect of IFRS adoption on analyst forecast errors is observed forfirms with moderate corporate governance prior to IFRS adoption, but not for firms with superioror inferior corporate governance. We interpret our findings such that firms with strong or weakcorporate governance do not benefit from IFRS adoption, because firms with strong corporategovernance already had transparent information system prior to IFRS adoption and firms withweak corporate governance failed to implement IFRS properly.
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Sukmawati, Sukmawati, and Sri Pujiningsih. "IFRS Adoption Research in Indonesia: A Systematic Literature Review." Journal of Accounting and Investment 23, no. 1 (February 3, 2022): 95–113. http://dx.doi.org/10.18196/jai.v23i1.13280.
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Research aims: This study aimed to review the development of IFRS research literature in Indonesia from 2011 to 2020.Design/Methodology/Approach: This study was based on the IFRS research articles from nationally accredited journals. The method in this research was a systematic literature review with a bibliometric approach and content analysis.Research findings: The results showed that the publication of the IFRS articles increased in 2014 with the number of authors dominated by two researchers. The research in Indonesia was dominated by the theme of the effect of IFRS convergence on earnings quality. Thus, it is necessary to develop research on the theme of implementation and development of IFRS convergence since the articles related to this theme are still poor. Compared with existing research abroad, there was a common focus of research on the theme of the IFRS convergence effect. However, there were differences in research theme trends, where the most studied theme in Indonesia was related to the effect of IFRS convergence, while abroad, the most studied theme was related to the implementation of IFRS convergence.Theoretical contribution/originality: This research can provide a historical overview of the development of the IFRS research literature in Indonesia.Research limitation/Implication: Further research is expected to expand the data analysis and sources of data. The research is also expected to expand the sub-themes related to the implementation and development of IFRS convergence, where the theme had not been studied much yet from 2011 to 2020.
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Valiyev, Akif, Arif Huseynov, Nushaba Gadimli, Ilham Huseynov, and Abasov Elmar. "A practical model to implementing IFRS in the national accounting system: The case of Azerbaijan." Journal of Eastern European and Central Asian Research (JEECAR) 8, no. 4 (December 15, 2021): 585–98. http://dx.doi.org/10.15549/jeecar.v8i4.836.
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The purpose of this article is to develop a methodological approach to substantiating the effective consolidation model of national accounting standards (NAS) with International Financial Reporting Standards (IFRS) for Azerbaijan. Using the questionnaire method, the advantages, and obstructions of IFRS implementation in Azerbaijan have been assessed, depending on the practicing models of consolidation of NAS and IFRS. Using fuzzy sets made it possible to determine the levels of development of advantages and obstructions associated with the introduction of IFRS into national accounting practice in Azerbaijan. We determined the most effective model of consolidation of NAS and IFRS for the enterprises of Azerbaijan. The effectiveness of implementing models for the consolidation of NAS and IFRS has been assessed to provide a balance between advantages and destructive factors in the implementation of IFRS.
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Tawiah, Vincent, and Pran Boolaky. "A review of literature on IFRS in Africa." Journal of Accounting & Organizational Change 16, no. 1 (November 18, 2019): 47–70. http://dx.doi.org/10.1108/jaoc-09-2018-0090.
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Purpose This paper is an appraisal of existing literature on IFRS in Africa. In a bid to determine what exists and what is missing in the literature, the authors have reviewed three streams of studies, namely, adoption, compliance/harmonisation and consequences of IFRS in Africa, with the aim to suggest what remains to be investigated on IFRS in Africa. Design/methodology/approach This paper uses a systematic review approach including synthesis of a variety of archival materials. Articles on Africa were summarised under three main headings: adoption, compliance/harmonisation and consequences of IFRS. Findings This review finds limited research on IFRS in Africa. It reveals that although past cross-continent studies claimed to cover Africa, they are limited to only a few countries and mainly predominated by South Africa. The authors identified only one study that investigated the impact of economic and cultural factors on IFRS adoption in Africa and few cross-continent studies but considering only very few African countries. Regarding compliance, four studies concluded that compliance with IFRS is dependent on a firm’s characteristics. The authors also identified that some of the generalised findings from prior research on consequences of IFRS are of limited significance in the African context. Originality/value This study suggests the determinants of adoption, compliance and consequences of IFRS in Africa are different if studied separately. It identifies some gaps in the literature that require further research, specifically, IFRS on taxation, fair valuation practices and the institutional capacities of countries to implement the standards.
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Zahid, R. M. Ammar, and Can Simga-Mugan. "An Analysis of IFRS and SME-IFRS Adoption Determinants: A Worldwide Study." Emerging Markets Finance and Trade 55, no. 2 (September 21, 2018): 391–408. http://dx.doi.org/10.1080/1540496x.2018.1500890.
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Alami, Youssef, and Mohamed Rachid Ouezzani. "Methods of implementations of IFRS: Proposition of a classification." International Journal of Accounting and Financial Reporting 1, no. 1 (October 19, 2014): 137. http://dx.doi.org/10.5296/ijafr.v4i2.6141.
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The IFRS have been adopted by most countries. This adoption differs in terms of method of implementation from one country to another. In fact, according Zeef and Nobes (2010), the adoption of IFRS in the world by countries to listed companies can be classified in accordance to its level of compliance with the IFRS issued by the IASB into four methods: "due process", "standard by standard", "optional" and "not fully converged". These authors have given some examples of adopters’ countries and have not classified the ensemble of countries adopting the IFRS in the world.In this paper, we introduce a new classification of methods of implementation of IFRS based on the three criteria: The conformity with the IFRS Issued by the IASB, the necessity of a regulatory passage and the policy of implementation. Thus, the content analysis of studies and reports issued by several international entities concerning the adoption of IFRS around the world has permitted to establish statistics on the methods of implementation applied by the countries around the world. Additional investigations have showed that the state of implementation of IFRS differs from a continent to another.
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Yang, Jessica Hong, Nada Kakabadse, and Dmytro Lozovskyi. "International financial reporting standards (IFRS) as a change agent in Ukraine." Journal of Governance and Regulation 2, no. 3 (2013): 139–51. http://dx.doi.org/10.22495/jgr_v2_i3_c1_p6.
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The study aims to examine the perception of key actors regarding the costs and benefits that result from adopting International Financial Reporting Standards (IFRS) in Ukraine. Design/Methodology/Approach – The authors conducted a questionnaire survey in order to identify perceptions of financial managers of Ukrainian listed firms regarding the benefits and the costs associated with transition to IFRS. Our results showed that IFRS implementation impacts on internal reporting quality, the relationship with customers, creditors and shareholders, the access to international markets and external financing. It also indicated that financial managers have serious concerns about implementation costs related to the introduction of IFRS. These costs relate to training, instruction on IFRS adoption and translation of current IFRS, changes in software systems, double purpose accounting and deadlines for IFRS adoption and consulting services. Whilst this research has established a general model that consists of six factors, affecting IFRS relevance to Ukraine, the extent of interrelations between these factors is not clear. Thus, it may be of a great interest for future research to explore this issue in more detail and, in particular, conduct empirical research to determine the extent of interdependency between six factors in the model. The results and conclusions of this research can be of a great interest to policy makers and business practitioners since all public companies in Ukraine are obliged to adopt IFRS from 2012. It might be of interest to conduct this research on results of mandatory implementation of IFRS in Ukraine while taking into account the circumstances that suggested almost no relevance of the international accounting standards to the country at the moment of their application. This is the first metrical study that discusses the relevance of IFRS to Ukraine’s national needs.
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Agyei-Mensah, Ben Kwame. "Adoption of International Financial Reporting Standards (IFRS) in Ghana and the Quality of Financial Statement Disclosures." International Journal of Accounting and Financial Reporting 3, no. 2 (January 16, 2014): 269. http://dx.doi.org/10.5296/ijafr.v3i2.4489.
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According to the IASB's IFRS framework, qualitative characteristics are the attributes that make the information provided in financial statements useful to others. This study was conducted to investigate the quality of financial reports before and after adopting IFRSs in Ghana, and also the influence of firm-specific characteristics which include firm size, profitability, debt equity ratio, liquidity and audit firm size on the quality of financial information disclosed by firms listed on the Ghana Stock Exchange.The research was conducted through detailed analysis of the pre-official adoption period, (2006) and post adoption period, (2008) financial statements of the listed firms. Descriptive analysis was performed to provide the background statistics of the variables examined. This was followed by regression analysis which forms the main data analysis. The results of the quality of financial information disclosure mean of 76.80% (pre adoption) and 87.09% (post adoption) for the two years indicate that the quality of financial reports has improved significantly after adopting IFRSs. The study thus confirms that the implementation of IFRSs generally reinforce accounting disclosure quality. It also indicates listed firms' overwhelming compliance with the IASB's IFRS Framework.The results of the multiple regression analysis show that company size, represented by net assets and Auditor type were found to be associated at a statistically significant level with the quality of financial information disclosed. With the improvement in the quality of the financial reports after adopting IFRS users are assured of useful information for financial decision-making.Keywords: Quality of financial reports' disclosure, Firm-specific characteristics, International Financial Reporting Standards, Mandatory disclosure, Ghana. JEL Classifications: M40, M41, M48
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Nijam, Habeeb Mohamed, and Athambawa Jahfer. "IFRS Adoption and Value Relevance of Accounting Information: Evidence from a Developing Country." Global Business Review 19, no. 6 (September 3, 2018): 1416–35. http://dx.doi.org/10.1177/0972150918794571.
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The purpose of this study is to investigate the impact of International Financial Reporting Standard (IFRS) adoption on value relevance of accounting information in Sri Lanka by comparing value relevance of accounting information in pre- and post-IFRS adoption periods. This study employs Ohlson (1995, Contemporary Accounting Research, 11(2), 661–687) price regression model to explain value relevance of accounting information. It explains market value per share (MVPS) using earning per share (EPS) and book value of equity per share (BVEPS). The pre-IFRS period is designated as 2010 through to 2011, and the post-IFRS period is designated as 2012 through to 2014. The sample comprises 188 firms and 935 firm-year observations which nearly constitute to all firms listed in Colombo Stock Exchange except those not having at least two annual reports before and after the year 2012 and those having extreme and incomplete data. It is found that both BVEPS and EPS significantly and positively explain MVPS during the periods followed by IFRS adoption although EPS was not a significant predictor of MVPS prior to IFRS adoption. Pooled regression with data of both regimes, however, maintains that BVEPS and EPS significantly and positively explain MVPS. Although the overall predictive power of value relevance model improved in the years that followed IFRS adoption, value relevance of BVEPS has declined in post-IFRS implementation. However, the decline in value relevance of BVEPS perhaps has been compensated by improved quality of earning thereby making EPS as a significant predictor of market value of equity in the post-IFRS periods. These findings were not rebutted or changed even at the exclusion of the transitional year of 2012 from the sample. This study contributes to the extant value relevance literature and IFRS studies by investigating the impact of IFRS adoption in a developing economy and for the first time in Sri Lanka.
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Ryack, Kenneth N., M. Christian Mastilak, Christopher D. Hodgdon, and Joyce S. Allen. "Concepts-Based Education in a Rules-Based World: A Challenge for Accounting Educators." Issues in Accounting Education 30, no. 4 (May 1, 2015): 251–74. http://dx.doi.org/10.2308/iace-51162.
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ABSTRACT In this paper we discuss the challenges of teaching U.S. GAAP and IFRS side by side. We then focus on one particular challenge of teaching both the more detailed U.S. standards and the less specific IFRS: the likelihood that students will “anchor” on the precise rules in U.S. GAAP when applying the less specific guidelines under IFRS. As a part of this discussion, we report on a classroom experiment designed to test for the presence of anchoring on U.S. GAAP rules when applying IFRS in a lease classification task. Our results indicate that students do anchor on the U.S. GAAP bright-line values for lease accounting when classifying leases under IFRS, primarily when U.S. GAAP rules provide an acceptable quantification of IFRS' less precise guidelines. We do not find that teaching order (i.e., teaching U.S. GAAP first versus IFRS first) directly affects anchoring or lease classification. However, a moderation analysis suggests the interaction between teaching order and anchoring may affect lease classification. Our results suggest that, where possible, instructors may wish to teach principles-based accounting prior to rules-based accounting to mitigate potential anchoring by students and its effect on their accounting judgments. Data Availability: Contact the authors.
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Hilliard, Theresa DiPonio, and Presha Neidermeyer. "The Impact of International Financial Reporting Standards (IFRS): Evidence from Canada." Studies in Business and Economics 11, no. 2 (August 1, 2016): 51–57. http://dx.doi.org/10.1515/sbe-2016-0020.
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Abstract The Canadian transition to IFRS provides a valuable IFRS learning opportunity. The Canadian transition and implementation of IFRS provides a unique opportunity to examine the conversion of financial reporting from a similar set of financial reporting rules as U.S. GAAP in a similar economic and business environment. The implementation and adoption of IFRS is not a monolithic event. Our ability to comprehensively understand and assess IFRS requires transparent disclosures such as those mandated by IFRS 1 and disaggregation of the equity components to observe and measure the impact of IFRS as it pertains to discretionary management implementation choices, material reclassifications, and GAAP-to-GAAP differences. Comprehensive knowledge of IFRS 1, First Time Adoption of International Financial Reporting Standards is crucial to our ability to assess the transitory and future impact of IFRS. IFRS 1 sets the precedent for financial reporting under IFRS, overrides transitional provisions included in other IFRS, and prescribes detailed disclosures. This detailed “rules-based” standard permits discretionary management policy choices which have material impact on transitory reporting as well as future financial results.
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Lopo Martinez, Antonio. "Are IFRS Standards a Good Starting Point for a Corporate Tax Base? Tax Principles for a CCCTB." Revista Electrónica de Direito 20, no. 3 (2019): 113–37. http://dx.doi.org/10.24840/2182-9845_2019-0003_0006.
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This article discusses whether IAS/IFRS should be used as a starting point in the context of the Common Corporate Tax Base in the European Union. Non-European countries may also have an interest in the analysis on the use of IFRS to compute the corporate tax base, as well. After a background discussion on the application of IAS/IFRS as the start point for a tax base, some principles of tax bases are analyzed. Additionally, the disadvantages and advantages of using IAS/IFRS as the start point are presented. In the end, the creation of an independent tax accounting framework is recommended, which should have as the primary purpose taxation, and taxpayers and governments as the users of the information. In this new arena, the IAS/IFRS should be a valuable toolbox of concepts that can be adjusted for a tax perspective.
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Den Besten, Priscilla Samantha, Georgios Georgakopoulos, Konstantinos Z. Vasileiou, and Nikolaos Ereiotis. "The Impact of IFRS Adoption on Earnings Quality: A Study Conducted on Foreign Issuers in the United States." International Business Research 8, no. 11 (October 26, 2015): 139. http://dx.doi.org/10.5539/ibr.v8n11p139.
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<p>The worldwide adoption of International Financial Reporting Standards (IFRS) is affecting many countries around the globe as it has become widely spread. Since 2007 the United States (US) allows foreign issuers to voluntarily adopt IFRS. This paper investigates the effect of IFRS adoption on earnings quality after voluntary IFRS adoption was allowed to foreign issuers in the US. More precisely, the discretionary accruals and the small positive earnings are tested for a sample of foreign issuers in the US that are registered and reporting with the SEC, comparing a pre-period from 2002 to 2006 with a post-period from 2008 to 2011. The results from the difference-in-differences regression analysis suggest that in terms of discretionary accruals there is no statistical difference between the pre-IFRS and the post-IFRS period, therefore the earnings quality remains the same. For small positive earnings it is found that, when foreign issuers incorporate IFRS, these are lower, indicating higher earnings quality.</p>
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Chen, Long, Jeff Ng, and Albert Tsang. "The Effect of Mandatory IFRS Adoption on International Cross-Listings." Accounting Review 90, no. 4 (November 1, 2014): 1395–435. http://dx.doi.org/10.2308/accr-50982.
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ABSTRACT Using a comprehensive dataset of international cross-listings spanning 34 (50) home (target) countries, we examine whether mandatory IFRS adoption facilitates firms' cross-listing activities. Our results using difference-in-differences analyses show that firms that mandatorily adopt IFRS exhibit significantly higher cross-listing propensity and intensity following IFRS adoption. We also find that firms from mandatory IFRS adoption countries are more likely to cross-list their securities in countries also mandating IFRS and countries with larger and more liquid capital markets. We further find that IFRS adoption has a greater effect on mandatory IFRS adopters from countries with larger accounting differences from IFRS, lower disclosure requirements, and less access to external capital prior to IFRS adoption. Our findings are consistent with the notion that mandatory IFRS adoption facilitates firms' cross-listing activities and highlight the importance of considering the change in cross-listings when examining the capital market consequences of mandatory IFRS adoption.
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Sanjar, Sherkulov, A. K. M. Kamrul Hasan, Indira Khajieva, Gulhayo Nusratova, and Feruza Yodgorova. "The impact of IFRS adoption on foreign direct investment in CIS." Financial Internet Quarterly 18, no. 1 (March 1, 2022): 74–90. http://dx.doi.org/10.2478/fiqf-2022-0007.
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Abstract Exploring the relationship between International Financial Reporting Standards (IFRS) and Foreign Direct Investment (FDI) inflows is the main objective of this paper. Although IFRS is identified as a determinant of FDI, a few studies have examined the impact of IFRS on FDI inflows, and it is unexplored as to whether IFRS impacts CIS countries. This paper covers ten (10) IFRS adopted CIS countries from 2000 to 2019 using Ordinary Least Square (OLS) and bias-corrected Least Square Dummy Variable (LSDVC). OLS estimator shows that IFRS positively impacts FDI inflows. However, according to the results of LSDVC, there is a negative relationship between IFRS adoption and FDI inflows. Generally, in developing countries implementing IFRS would lead to FDI enhancement. The negative relationship between IFRS adoption and FDI inflows in CIS countries shows that IFRS is not an essential factor of FDI inflows.
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Lin, Steve. "DISCUSSION OF The Determinants and Consequences of Heterogeneous IFRS Compliance Levels Following Mandatory IFRS Adoption: Evidence from a Developing Country." Journal of International Accounting Research 11, no. 1 (January 1, 2012): 113–18. http://dx.doi.org/10.2308/jiar-10226.
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ABSTRACT Bova and Pereira (2012) investigate two important and interesting research questions: (1) why do firms comply with International Financial Reporting Standards (IFRS) in a developing country where enforcement is weak, and (2) do firms benefit from IFRS compliance in a developing country where enforcement is weak? Using data from Kenya, Bova and Pereira (2012) find that public firms appear to have a higher level of IFRS compliance than private firms. They also find a positive and significant association between foreign ownership and the level of IFRS compliance, consistent with the reporting incentive hypothesis, and between share return and the level of IFRS compliance, consistent with the economic benefit hypothesis. This study contributes to the literature by providing preliminary evidence on the extent to which reporting incentives play an important role in IFRS compliance, and the economic benefit of IFRS compliance in a developing country where enforcement is weak. The implication of the findings of this study should be interpreted with caution because the empirical evidence provided is based on some restricted data from a single developing country. Future research should provide more comprehensive evidence on the economic effects of adopting IFRS in developing and less developed countries.
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Gupta, Dr Rakesh. "Implementing IFRS in India- A Cost / Benefit Analysis." Paripex - Indian Journal Of Research 3, no. 2 (January 15, 2012): 14–16. http://dx.doi.org/10.15373/22501991/feb2014/116.
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Serçemeli, Murat. "A research about adoption of international financial reporting standard on G20 countries." Journal of Human Sciences 13, no. 3 (December 31, 2016): 6185. http://dx.doi.org/10.14687/jhs.v13i3.3949.
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The existence of particular accounting and reporting systems for companies operating in different countries creates a difficulty in making comparisons among these companies. One of the most important attempts to fix this problem is the enforcement of IFRS as a single standard in all countries. The aim of this research is to identify the current situation of G20 countries regarding the adoption of IFRS as a global standard. To this end, the current status of IFRS and the process of its adoption in G20 countries is examined in order to determine the extent of IFRS’s adoption as a global accounting standard. For this purpose, certain criteria are determined by analyzing the reports prepared by IASB on the IFRS applications in 143 countries and then content analysis of the country reports of the G20 countries are provided based on these criteria.According to the findings of the study, although it is possible to observe that all G20 countries except USA accept IFRS as the global accounting standard, this does not lead to the adoption of IFRS at the national level. Most G20 countries either adopted IFRS or making preparations for its adoption. However, the facts that IFRS is not applied in the world’s two biggest economies, USA and China, as well as in Indonesia and India and its only partial application in Saudi Arabia and its status of optional application in Japan are striking. As a result it is possible to claim that even though IFRS has expanded largely, there is still room for progress to become the single global accounting language. Current literature on IFRS usually focuses on single countries or comparisons of few countries. This study will provide a contribution to the field by presenting the current situation in the entire G20 countries.
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Karapınar, Aydın, and Figen Zaif. "Does the IFRS improve earnings quality? A comparison of Turkish GAAP and IFRS." Journal of Islamic Accounting and Business Research 13, no. 2 (December 13, 2021): 277–96. http://dx.doi.org/10.1108/jiabr-10-2019-0206.
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Purpose The purpose of this study is to reveal the effect on earnings quality of switching to International Financial Reporting Standards (IFRS) from Turkish generally accepted accounting principles (GAAP) by comparing two sets of financial statements based on Turkish GAAP and IFRS. Design/methodology/approach This study is based on mathematical modeling. The variables (total assets, net income, total accruals, cash receivables, return on assets and size) in the models are core to the quantitative research that examines the relationship between them. In this study, the total accruals are computed based on the indirect approach, and the prediction error of the model represents discretionary accruals that reflect earnings management. The data set includes financial data prepared under IFRS and Turkish GAAP. The univariate and multivariate analyses are conducted by SPSS. Findings The results of this study indicate that IFRS does not cause any significant differences in total assets, but the net income under IFRS is larger compared to that under the Turkish GAAP. It is also found that while there is no significant difference in total accruals, there is a difference in discretionary accruals. In other words, Turkish firms use income-reducing discretionary accruals when adopting IFRS. Originality/value This study provides more insights into the effect of IFRS on earnings quality. It also provides evidence of the effect of accounting culture on IFRS adoption. As a code-law country in Turkey, publicly traded firms have to prepare financial statements based on both Turkish GAAP, which is rule-based and restricts management decisions with strict rules, and the principle-based IFRS which leaves more room to manipulate. To the authors’ knowledge, this is the first study that reveals the effect of accounting standards on earnings management by comparing two sets of financials of the same period prepared under different standards.
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Van der Zwan, Pieter, and Nico Van der Merwe. "The Message Conveyed By IFRS-Compliant Information: A South African Perspective." International Business & Economics Research Journal (IBER) 12, no. 9 (August 30, 2013): 1041. http://dx.doi.org/10.19030/iber.v12i9.8051.
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South African companies must prepare financial statements in accordance with International Financial Reporting Standards (IFRS) or other reporting standards modelled on IFRS. Literature suggests that the complexity of IFRS, which stems from detailed rules-based principles in these standards, may harm the ability of users of financial statements to understand financial information in a meaningful way. The primary objective of this study was to evaluate whether selected users and preparers of financial statements in South Africa interpret selected IFRS-compliant information prepared in accordance with rules-based principles in the manner intended by the standard-setters. The results of the study, which are based on data gathered by administering a questionnaire that contained selected IFRS-compliant note disclosures to accounting practitioners, accountancy students, and non-accountants in business, suggest that the participants of the study did not understand such IFRS-compliant information as intended by the standard-setters. Additional disclosure, the adoption of a simplified accounting framework for Small and Medium-sized Entities (SMEs) and the use of an output-based continuing professional education (CPE) system are identified as areas that warrant further research to overcome the threats posed by rules-based principles in IFRS.
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Herath, Siriyama Kanthi, Renee McCoy, Shaniece M. Lucas, and Ethel Mensah. "Understanding international financial reporting standards (IFRS): a review and evaluation of IFRS research." International Journal of Managerial and Financial Accounting 3, no. 3 (2011): 304. http://dx.doi.org/10.1504/ijmfa.2011.041759.
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Zhu, Hong, Kevin T. Rich, Alfred R. Michenzi, and Jason Cherubini. "User-Oriented IFRS Education in Introductory Accounting at U.S. Academic Institutions: Current Status and Influencing Factors." Issues in Accounting Education 26, no. 4 (November 1, 2011): 725–50. http://dx.doi.org/10.2308/iace-50058.
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ABSTRACT We document the current state of International Financial Reporting Standards (IFRS) education in introductory accounting courses, and model the decision by introductory accounting educators to integrate IFRS into their courses. Using a survey of educators conducted during Fall 2009, we find that although a majority of respondents believe IFRS material is important for non-accounting business majors, 56 percent spent less than 30 minutes per term covering IFRS. Our results suggest that educators are more likely to extensively cover IFRS topics when they perceive U.S. GAAP/IFRS convergence to be more certain and when they have colleagues engaged in teaching IFRS, and less likely when they assess IFRS teaching materials to be inadequate. Overall, we provide evidence regarding the role of business schools' curricula in educating future investors on the basics of IFRS. This is of interest to the SEC in evaluating whether to mandate IFRS for U.S. issuers, as well as the faculty members, departments, or programs looking to better understand the conditions that facilitate user-oriented IFRS coverage in the classroom.
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Edeigba, Jude, Christopher Gan, and Felix Amenkhienan. "The Effects of Organisational Culture on IFRS Adoption: Evidence from Nigerian’ Companies." International Journal of Accounting and Financial Reporting 8, no. 1 (March 14, 2018): 198. http://dx.doi.org/10.5296/ijafr.v8i1.12713.
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This study investigates the underlying factors contributing to the International Financial Reporting Standards (IFRS) adoption in Nigeria. The diversity of responses to IFRS adoption is a phenomenon that requires empirical investigation to understand the reasons why some companies adopt IFRS other do not. Previous studies have investigated preparers of financial statements’ compliance with IFRS. However, there is a dearth of research on the influence of cultural factors on IFRS adoption. Little has heretofore has been done to examine cultural variables as determinants of IFRS adoption. This study applies a self-administered survey instrument to elicit data from four major cities in Nigeria. The analysis involves applied logistic regression to estimate the relationship between the covariates and the companies’ decisions to adopt IFRS. The results indicate companies’ professionalism, transparency, flexibility, secrecy, uniformity and statutory control are significant factors impacting IFRS adoption at different magnitudes. For example, a company that considers IFRS will increase the level of financial statements transparency is more likely to maintain some levels of secrecy. The study identifies that IFRS adoption can only be successful when accountants develop the relevant technical expertise in IFRS requirements prior to the implementation. Consequently, there is a need for more practical training in IFRS accounting valuation, recognition, measurement and disclosure of financial information to users of financial statements. The diversity in responses to IFRS adoption, where some companies adopt and others show resistance to IFRS requirements has been a phenomenon that requires empirical investigation to understand the rationale. Though some studies have investigated companies’ compliance with accounting regulations in Nigeria, there is limited research on factors influencing IFRS adoption. A consequence is that efforts to come up with effective policies to enhance IFRS adoption and obtain compliance status for Nigerian companies are constrained. The objective is to contribute to initiatives aimed at assuring foreign investors of reliability of IFRS financial statements prepared by Nigerian companies.
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Shkulipa, Lyudmyla. "Analysis of Impact of Changes in IFRSs on Convergence of Accounting Systems in World." Studia Universitatis „Vasile Goldis” Arad – Economics Series 31, no. 3 (July 23, 2021): 75–103. http://dx.doi.org/10.2478/sues-2021-0015.
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Abstract The article examines the impact of updated IFRS on the current convergence of national accounting and reporting rules in Japan, the USA, China, France, Germany, the UK, and Ukraine based on a theoretical analysis of 59 rules and concepts of IFRS. The new differences between the updated IFRS and GAAP of these countries based on the comparative analysis were revealed. The results of the study show currently Ukraine (51%) and the United Kingdom (47%) are the most convergent with IFRS, although their degree of convergence has decreased significantly after recent innovations in IFRS; a new question arises for the UK after Brexit regarding the further application of IFRS; countries with strong national accounting traditions continue to avoid rapid changes in their GAAP; 4) the increase in the convergence of GAAP Japan with IFRS will not be possible shortly. The conclusion states that the main obstacle in the convergent process GAAP and IFRS is that: 1) IFRS are changing based on GAAP USA, rather than vice versa; 2) IFRS do not belong to the “stable to change standards”, so users have a certain distrust of the declared high quality of IFRS. The study results add significant novelty to scientific and practical research on the impact of frequent changes in IFRS both locally and internationally.
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Levanti, Denis Adrian. "Development of a Disclosure Index for Lease Accounting Policies: Evidence from Romanian Banks." European Journal of Business and Management Research 7, no. 2 (April 21, 2022): 295–99. http://dx.doi.org/10.24018/ejbmr.2022.7.2.1383.
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Leasing is an important financing solution used by banks to carry out their daily operations. From a lessee perspective, IFRS 16 changed completely the accounting landscape for lease contracts. A right of use assets and a corresponding lease liability must be recognized in the lessees’ balance sheets. Additionally, extensive disclosures are required. This paper aims to study the extent to which Romanian banks comply with IFRS 16 disclosure requirements. The population includes 23 Romanian banks. To carry out this research, we employed the content analysis technique and reviewed the IFRS 16 disclosures from the 2020 IFRS financial statements. To measure compliance, we developed a dichotomous and unweighted disclosure checklist, which includes 34 items grouped into six categories. The results of our study revealed that, in the first year following the IFRS 16 transition, Romanian banks recorded an average 62% level of compliance with IFRS 16 disclosure requirements. There is a lot of room for improvement in the following years, especially for top ten ranked banks.
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Tripathi, Ravindra, and Shikha Gupta. "INTERNATIONAL FINANCIAL REPORTING STANDARDS: A WAY FOR GLOBAL CONSISTENCY." Australian Journal of Business and Management Research 01, no. 01 (May 7, 2011): 38–51. http://dx.doi.org/10.52283/nswrca.ajbmr.20110101a04.
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The reverberations of Wall Street had to be felt across the global banking system. Last September, the world economy seemed to be hurtling down in a way that had initially raised the spectre of the Great Depression in America of the late 1920s. This is based largely on the performance of stock markets which are supposed to reflect future trends in the real economy. However, such knowledge embedded in the markets can be imperfect, as we have learnt by now. In some ways, the global financial crisis and its fallout are forcing economic agents to acquire new knowledge in regard to what might happen in the future. It was difficult to explain rationally why the stock markets were furiously running up even as company balance sheets were still bleeding. A few years ago, International Financial Reporting Standards (IFRS) were a distant possibility. Today, the reality is far different. We are in a dramatic shift that is fast making IFRS the most widely accepted accounting model in the world. As the business environment becomes increasingly global and companies routinely list on stock exchanges in many countries, the need for consistent worldwide reporting standards intensifies. IFRS clearly addresses this issue; its goal is to create comparable, reliable, and transparent financial statements that will facilitate greater cross-border capital raising, trade and better corporate governance practices. Thus acceptance of IFRS is gaining momentum across the globe. IFRS transition program for any organization will have multi – dimensional effect because of differences which exist between IFRS and Local GAAPs. The objectives of the paper is to highlight the nature of such differences with examples along with analysing the provisions of IFRS, comparative analysis of IFRS with Indian GAAP system, benefits, and major issues in first time adoption of IFRS in Indian companies with the help of case study of Indian corporate.
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B. Emudainohwo, Ochuko. "IFRS and stock exchange development in sub-Saharan Africa: a logistic model." Investment Management and Financial Innovations 17, no. 3 (October 9, 2020): 397–407. http://dx.doi.org/10.21511/imfi.17(3).2020.30.
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This study examines the impact of International Financial Reporting Standards (IFRS) on the stock exchange development (SED) in sub-Saharan Africa (SSA). The essence is to offer suggestions on how the adoption of IFRS in the SSA region can benefit their SED. The study employed logistic regression analysis of data for 40 SSA countries for the period 2010–2018. Data were extracted from the World Bank’s World Development Index (WDI) database, sampled countries’ stock exchange websites, and the IFRS website. The dependent variable (SED) took two values: 1 – if a stock exchange is established in the observed country’s period, otherwise – 0. The model result was well fitted: p &lt; 0.0001, correctly classified an overall SED accuracy up to 84.84% and excellent area predictive power at a receiver operator characteristic of 0.9347. The study observed that IFRS had high degree of co-movement with SED, and changes in IFRS had a strong positive impact on SED. Besides, changes in market size, ICT infrastructure, and public sector management and institution (PSMI) had a positive and significant impact on SED. The odd ratio of SED compared to non-SED is greatest with IFRS (40.67 times), and for the other variables, the ratios are: market size (4.02), ICT infrastructure (1.26), and PSMI (2.73), respectively. On a greater extent, SSA countries should allow the use of IFRS for financial reporting to expedite SED.
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Srivastava, Anubha, and Preeti Kulshrestha. "The Benefits and Challenges of IFRS Adoption in India: The Dawn of a New Era." International Journal of Accounting and Financial Reporting 9, no. 4 (October 11, 2019): 334. http://dx.doi.org/10.5296/ijafr.v9i4.16012.
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We endeavor to examine the benefits and the key challenges associated to International financial reporting standards enforcement in India in the current paper. The research is founded on structured questionnaire survey of 150 accounting professionals and applied purposive sampling technique to assemble the data from target respondents from various business sectors of India. The data from secondary sources,conducted through personalized interview, has been examined qualitatively with respect to IFRS convergence.The research outcome contributes to the existing literature stating that the respondents are optimistic about the benefits related to IFRS adoption but the challenges are too a major roadblock. Since the enforcement of IFRS has already initiated in India thus it is imperative to comprehend the benefits and cost associated with IFRS in Indian context. This study results recognizes that though convergence process with IFRS will pose few key challenges but the overall benefit will overweigh the challenges. This study recommends that IFRS training seminars and workshops at massive scale should be embarked upon by regulatory bodies, professional organizations like ICAI, KPMGs and other training institutions to provide for a smooth transition from local standards to IFRS.
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Yuniarso, Atrina Febri, and Andreas Lako. "Analisis Relevansi Nilai Informasi Akuntansi Sebelum dan Sesudah Konversi SAK-IFRS (Studi Empiris Pada Emitem Perbankan Yang Tercatat Di Bursa Efek Indonesia)." Jurnal Akuntansi Bisnis 16, no. 2 (September 12, 2019): 213. http://dx.doi.org/10.24167/jab.v16i2.2258.
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Abstract
This study aims to examine the effect of IFRS implementation on the value relevance of accounting information with elements of financial statements based on SAK-IFRS namely Assets, Liabilities, Book Value Equity, Income, Costs and Profit.
The population of this study is a banking company listed on the Indonesia Stock Exchange in 2008-2015. The sampling technique used in this study is purposive sampling method, which is the sampling conducted by the author through consideration and based on certain criteria. The analytical tool used is Multiple Linear Regersion.
The results showed that the relevance of the value of accounting information (elements of financial statements) for the stock market before and after the conversion of IFRS-SAK increased from time to time after the year SAK-IFRS was enacted. The relevance of the value of accounting information after the conversion of IFRS-SAK is higher than before the conversion of IFRS. There is a significant difference between the relevance of the value of accounting information for the stock market after the conversion of SAK-IFRS compared to before the conversion of SAK-IFRS.
Keywords: SAK-IFRS conversion, value of accounting information relevance, stock return, z-test cramer.
Abstrak
Penelitian ini bertujuan untuk menguji pengaruh penerapan IFRS terhadap relevansi nilai informasi akuntansi dengan elemen – elemen laporan keuangan yang berbasis pada SAK-IFRS yaitu Aset, Liabilitas, Nilai Buku Ekuitas, Pendapatan, Biaya, dan Laba.
Populasi dari penelitian ini yaitu Perusahaan perbankan yang tercatat di Bursa Efek Indonesia pada Tahun 2008-2015. Teknik pengambilan sampel yang digunakan dalam penelitian ini adalah metode purposive sampling, yaitu pengambilan sampel yang dilakukan penulis melalui pertimbangan dan dengan berdasarkan kriteria tertentu. Alat analisis yang digunakan adalah Regersi Linier Berganda.
Hasil penelitian menunjukkan bahwa Relevansi nilai informasi akuntansi (elemen-elemen laporan keuangan) untuk pasar saham sebelum dan sesudah konversi SAK-IFRS meningkat dari waktu ke waktu setelah tahun diberlakukannya SAK-IFRS. Relevansi nilai informasi akuntansi periode sesudah konversi SAK-IFRS lebih tinggi dibandingkan dengan sebelum konversi SAK-IFRS. Terdapat perbedaan yang signifikan antara relevansi nilai informasi akuntansi untuk pasar saham sesudah konversi SAK-IFRS dibandingkan sebelum konversi SAK-IFRS.
Kata kunci: konversi SAK-IFRS, relevansi nilai informasi akuntansi, return saham, z-test cramer.
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Lestari, Ikhlazia Indah, Kamaludin Kamaludin, and Pratana Puspa Midiastuty. "RELEVANSI LAPORAN KEUANGAN PADA PERUSAHAAN-PERUSAHAAN MANUFAKTUR TERDAFTAR DI BURSA EFEK INDONESIA." JURNAL FAIRNESS 6, no. 1 (March 26, 2021): 45–58. http://dx.doi.org/10.33369/fairness.v6i1.15118.
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This study aims to test whether there is a higher value relevance of financial ratios after the IFRS convergence than before the IFRS convergence and whether there is a difference in the value relevance of financial ratios in explaining stock prices between the periods before and after the IFRS convergence.The sample in this study was manufacturing companies listed on the Indonesia Stock Exchange in 2011-2012. Using the purposive sampling technique, 94 companies were the samples of this study. The results show that there is no value relevance of the value of the liquidity and solvency ratios after IFRS which is higher than before IFRS and there is a value relevance of the value of the profitability ratio after IFRS which is higher than before IFRS. The results also show that there is a difference in the effect of the relevance of financial ratios in explaining stock prices after the application of IFRS compared to before the application of IFRS.
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Harris, Peter. "A Case Study Of The Cash Flow Statement: US GAAP Conversion To IFRS." Journal of Business Case Studies (JBCS) 12, no. 1 (January 14, 2016): 1–6. http://dx.doi.org/10.19030/jbcs.v12i1.9556.
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International Reporting Standards (IFRS) has become the required framework for most of the world financial markets effective on January 1, 2011. The United States is in a transformation stage, and it has not yet been determined when the US will adopt IFRS. The introduction of IFRS accounting rules into the curriculum is valuable because it presents an alternative method of accounting which can be used to heighten students understanding of GAAP. At present, the CPA Uniform CPA exam is testing IFRS and its testing content is increasing with each current test. Additionally, the CFA exam tests IFRS exclusively and has eliminated US GAAP from its curriculum, basing its action on the fact that the CFA examination is a global based exam. This case requires students to prepare an IFRS cash Flow Statement from a presented US GAAP presented Statement of Cash Flow, from a given set of facts in the case. This case study can be used at the undergraduate or graduate level. It is most suitable for Intermediate Accounting 2, Accounting Theory, Financial Statement Analysis, and an Accounting Capstone classes. Students must have or develop a solid understanding of both US GAAP and IFRS rules is required to adequately address this cash flow case study.
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Schutte, Daniel Petrus, and Pieter Buys. "A critical analysis of the contents of the IFRS for SMEs - a South African perspective." South African Journal of Economic and Management Sciences 14, no. 2 (June 6, 2011): 188–209. http://dx.doi.org/10.4102/sajems.v14i2.61.
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The International Financial Reporting Standards (IFRS) for Small and Medium Enterprises (SMEs) was developed to address the reporting needs of SMEs worldwide. Furthermore, SMEs from different parts of the world are exposed to different conditions and environments. Although the IFRS for SMEs was not intended for a specific user group,the majority of the respondents to the Exposure Draft on IFRS for SMEs were from Europe and other developed countries while only limited respondents from Africa and developing countries were involved. This study considered the relevance of the contents of the IFRS for SMEs in the South African environment based on user requirements. Since SMEs do not necessarily have functional accounting departments and because they rely on external accountants to compile financial statements, we included accounting practitioners and trainee accountants from the SME sector in our survey. As a result we classified the contents of the IFRS for SMEs, from a South African perspective, into different levels of importance or relevance.
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Tripathi, Nilmani. "India Stepping for IFRS: A Critical Review." IRA-International Journal of Management & Social Sciences (ISSN 2455-2267) 4, no. 2 (September 7, 2016): 423. http://dx.doi.org/10.21013/jmss.v4.n2.p11.
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<div><p><em>The Asian crisis of 1990, the US accounting scandals like that of Enron, World com, Adelphia, European scandals of Ahold and the present economic crunch all have enforced the importance of effective corporate governance mechanism and global GAAP. All these activities have forced the development of some universal reporting standards i.e. IFRS. The benefits which Indian companies hope to reap after IFRS adoption are numerous. But no benefits can be drawn without facing some crucial challenges. The current shaken market confidence globally may present significant challenges to organizations. Adoption of IFRS could result in an added considerable volatility in reported earnings and some performance specific measures like EPS and P/E Ratio. Entities will have to clarify reasons for this IFRS related volatility apart from other macroeconomic factors. This paper talks about some such challenges and impact of IFRS implementation in some sectors of the Indian economy. The sectors mainly touched upon are that of retail, technology, telecom and power. The paper closes with two small cases of JK Paper and Wipro who have gone for the adoption of IFRS. The cases will aid in understanding the implementation issues of IFRS.</em></p></div>
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Deef, Alaa, and Mohamed Sami Radi. "Adopting IFRS as a Moderating Variable on the Relationship Between Accounting Information and Market Responses." International Journal of Customer Relationship Marketing and Management 13, no. 1 (January 1, 2022): 1–15. http://dx.doi.org/10.4018/ijcrmm.308467.
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The purpose of this paper is to examine the impact of adopting International Financial Reporting Standards (IFRS) on the relationship between accounting information and market responses. We investigate the impact of the IFRS adoption on financial statements quality and whether this impact, if any, has a positive implication of the capital market (especially, market liquidity and equity value). Data were collected from 147 non- financial firms listed on the Saudi exchange for the period 2015-2019. The findings show that disclosure quality has increased because of IFRS adoption. Moreover, the results find that the adoption of IFRS improves market liquidity and increases the share price of firms listed on the Saudi exchange. Our findings show that adopting IFRS have positive economic implications on the Saudi business environment.