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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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AL-Mutairi, Abdullah, Kamal Naser, and Nabi Al-Duwaila. "Students' Attitudes towards the Adoption of International Financial Reporting Standards (IFRS) in Kuwait." Asian Social Science 13, no. 5 (April 19, 2017): 85. http://dx.doi.org/10.5539/ass.v13n5p85.
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The purpose of this paper is to examine the perceptions of a sample of Kuwaiti students about their knowledge and interest on the adoption of International Financial Reporting Standards (IFRS) and the usefulness of learning IFRS. A questionnaire survey is used in this study to identify the attitudes of the students towards adoption IFRS in Kuwait. Questionnaires were distributed to 350 students who study in colleges of business administration in Kuwait. They were asked to express their perception about the adoption of IFRS. 228 questionnaires returned completed resulting in 65% usable response rate. The surveyed students gained knowledge about IFRS through their academic program. Most of the surveyed students knew nothing about IFRS before taking an accounting course that addresses the IFRS Standards. They became interested in learning more about IFRS after studying an accounting course. The surveyed students demonstrated that they acquired information about IFRS through formal academic lectures and the Internet. Yet, they prefer to study more about IFRS through formal lectures, practical case studies applied to Kuwaiti companies and seminars. There is consensus among the respondents that the business administration academic program must have more about IFRS offered as elective courses. Although Kuwait was one of the Middle Eastern countries that adopt IFAS, the vast majority of the students who took part in survey indicated that they were not aware of this. This gives clear indication that the financial reporting courses offered in business colleges in Kuwait are theoretical and hardly use the financial reports of companies listed on the national stock exchange as cases studies. The respondents believe studying IFRS helps in mastering accounting measurements and disclosure and this would help in proceeding in their studies and support them in developing their future career.
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Mulyany, Ratna. "SOME NOTES ON IFRS CONVERGENCE AND THE ISLAMIC FINANCIAL INDUSTRY." Jurnal Akuntansi Indonesia 7, no. 1 (September 10, 2018): 1. http://dx.doi.org/10.30659/jai.7.1.1-14.
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IFRS Convergence has been a worldwide phenomenon with most of countries in the world are adoptingIFRS instead of their national accounting standards. At the same time, the Islamic finance is gaining its popularity in the present world with the increasing acceptance by international community. In relation to these two phenomena, there have been concerns that the establishment of Islamic financial institutions together with its own unique characteristics will impede the achievement of the global accounting convergence. Furthermore, the promulgation of accounting standards by Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), which is intended to fulfil the unique features of Islamic Financial Industry is viewed as a challenge to the International Financial Reporting Standards (IFRS), which is promoted by the convergence agenda. Numerous complex issues emerge as result of the dilemmatic position of IFIs in retaining its distinct Shari’ah principles, while attempting to be part of the global financial system through adopting the IFRS. This study aims to describe some notes relating to the IFRS convergence and the development of Islamic finance. The objective is to outline the issues, not necessarily to resolve them, and to consider the implications they have for pursuing IFRS convergence in the context of Islamic financial service industry.
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ERGÜDEN, A. Engin. "IFRS 15." International Journal of Finance & Banking Studies (2147-4486) 9, no. 1 (March 11, 2020): 47–57. http://dx.doi.org/10.20525/ijfbs.v9i1.650.
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Revenue is one of the most important performance and size indicators for businesses. A new standard, which has more comprehensive and comparable feature to eliminate the deficiencies in the IFRS (International Financial Reporting Standart)-15 Revenue From Customer Contracts Standard published on 15.01.2019 and the old revenue (IAS-18 Revenue and IAS (Inernational Accounting Standarts) -11 Construction Contracts) standards to be applied in the accounting periods starting after 01.01.2018, has been introduced. The most important purpose of the standard is to eliminate the uncertainties and deficiencies in the old standards with a five-step model on important issues related to when and what amount of the revenue based on the contract with customers will be accounted.
According to IFRS-15 Revenue From Customer Contracts Standard, which is applied for the accurate reporting of revenues, comprehensive analysis of the financial table footnotes of the businesses in the tourism sector concerning presentation of the records related to the revenue in the financial statements in the footnotes, the contracts placed with the customer of the enterprise, important evaluations in the application of the standard and the transaction costs incurred in the financial statements as an asset has been the scope of this study.
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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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Lee, Woo Jae. "Toward Sustainable Accounting Information: Evidence from IFRS Adoption in Korea." Sustainability 11, no. 4 (February 21, 2019): 1154. http://dx.doi.org/10.3390/su11041154.
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The harmonization of accounting standards has been an international trend in the past two decades. As of 2018, 144 of 166 profiled jurisdictions require the use of International Financial Reporting Standards (IFRS). Nevertheless, there is mixed evidence on the effect of IFRS on sustainable accounting information. This study examines whether IFRS adoption improves earnings sustainability, focusing on emerging markets. Specifically, it tests the effect of IFRS on earnings quality by comparing earnings management and financial statement comparability of Korean listed firms for the pre- and post-IFRS periods. The results show that firms report less managed earnings in the post-IFRS period than in the pre-IFRS period. Furthermore, the results suggest the enhancement of financial statement comparability in the post-IFRS period compared to the pre-IFRS period. In particular, this paper documents that the effect of IFRS on sustainable accounting information is more pronounced in competitive industries. Moreover, it shows that small firms benefit more from adopting IFRS. Overall, this study finds that IFRS adoption in Korea improves the overall sustainability of accounting information.
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Coe, Martin, and John Delaney. "Trabeck prepares for IFRS: An IFRS case study." Journal of Accounting Education 31, no. 1 (March 2013): 53–67. http://dx.doi.org/10.1016/j.jaccedu.2012.12.002.
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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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W., Heri Sukendar. "Konvergensi Standar Laporan Keuangan ke Standar Pelaporan Keuangan Internasional, Apa dan Bagaimana." Winners 10, no. 1 (March 31, 2009): 10. http://dx.doi.org/10.21512/tw.v10i1.712.
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This research aims to explain development of the convergence of financial accounting standards under IFRS outline being implemented in Indonesia. In the early part, background of the convergence from Indonesian GAAP to IFRS is discussed, both economically and politically to the latest developments in the convergence to IFRS at the present. Furthermore, it is also described the basic framework of the IFRS, which is the fundamental preparation of financial report under IFRS. At the end, this research will explain the impact of IFRS convergence on accounting and financial reporting systems, the impact of IFRS on business and the differences between IFRS and tax principles.
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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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Wong, Helen, and Raymond Wong. "An Empirical Study - Adoption of International Financial Reporting Standards (IFRS) in Hong Kong Education." Journal of Management Research 5, no. 4 (September 30, 2013): 98. http://dx.doi.org/10.5296/jmr.v5i4.4256.
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This study aims to investigate students’ knowledge and interest on adoption of IFRS in Hong Kong, the preferred strategy and pedagogy of introducing IFRS, and the usefulness of learning IFRS. The results show that most Hong Kong students are eager to learn IFRS and they understand the positive impact of learning IFRS. The Hong Kong accounting professionals and educators have to develop relevant materials on IFRS.
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Hasiholan Pulungan, Andrey. "Persepsi Mahasiswa Terhadap IFRS dan Kompetensi Mahasiswa dalam Memahami dan Mengaplikasikan IFRS." Akuntansi dan Manajemen 8, no. 1 (June 1, 2013): 29–38. http://dx.doi.org/10.30630/jam.v8i1.126.
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Globalization, ASEAN Free Trade started in 2015, and IFRS implementation in Indonesia require universities to produce competent accounting graduates, specifically in IFRS. The purpose of this research is to analyze students’ perceptions on IFRS and their competence in IFRS. The respondents are 81 students from three private universities in Jakarta, Banten, and West Java. The students must be taking or must have taken Advance Accounting subject. The results show that students realize that IFRS is important for working as accountant and IFRS has been also integrated in their learning process in campus. However, students perceive that they do not have good competency in understanding applying IFRS. Most respondents state that they are difficult to learn IFRS due to unclear explanation from lecturer, text book in English, and lack of facilities to learn IFRS.
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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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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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Lestari, Muna lestari. "PERKEMBANGAN IFRS DI DUNIA DAN IMPLEMENTASI DI INDONESIA." Jurnal Akuntansi, Keuangan, Perpajakan dan Tata Kelola Perusahaan 1, no. 3 (March 16, 2024): 77–82. http://dx.doi.org/10.59407/jakpt.v1i3.504.
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Penelitian ini bertujuan untuk mengetahui perkembangan IFRS di dunia dan proses pengadopsian implementasi IFRS di Indonesia. Awalnya dewan standar Akuntansi Internasional membuat IASC yang memproduksi IAS dan kemudian berubah menjadi IASB yang memproduksi IFRS. Alasan dewan membuat standar karena kebutuhan standar akuntansi di seluruh dunia sangatlah besar apalagi persaingan industri di era global ini menghendaki keseragaman standar akuntansi sehingga antar laporan keuangan bisa dibandingkan dengan yang lain. Pengadopsian IFRS bagi negara-negara di seluruh dunia dilakukan secara penuh maupun bertahap. Pengadopsian IFRS di Negara Indonesia agar menjadi standar akuntansi keuangan dilakukan melalui berbagai tahapan, yaitu tahap adopsi, tahap persiapan akhir, dan tahap implementasi. Di dalam proses pengadopsian itu, masih terkendala mengenai sumber daya manusia. Untuk mengatasinya kendala tersebut, maka diadakannya pelatihan yang berkelanjutan bagi DSAK dan para pengguna IFRS secara teori maupun praktek. Penelitian ini berhasil mengidentifikasi dan menganalisis perkembangan IFRS di tingkat global, dari awal pembentukan IASC hingga transformasi menjadi IASB yang menghasilkan IFRS. Pemahaman ini memberikan landasan untuk memahami pentingnya standar akuntansi global dalam mendukung keseragaman pelaporan keuangan di era persaingan industri global. Kata Kunci : Perkembangan IFRS Global, Proses Pengadopsian IFRS,Implementasi 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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Roozen, Kees, and Maarten Pronk. "Toelichting verwachte impact van IFRS 9 en IFRS 15." Maandblad Voor Accountancy en Bedrijfseconomie 92, no. 11/12 (December 10, 2018): 309–28. http://dx.doi.org/10.5117/mab.92.29609.
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IAS 8 bevat de verplichting om informatie te verstrekken over nieuwe standaarden die nog niet toegepast hoeven te worden. In de 2017-jaarrekening geldt dat met name voor IFRS 9 ‘Financial Instruments’ en IFRS 15 ‘Revenue from Contracts with Customers’. Wij analyseren de informatieverstrekking door Europese beursgenoteerde corporates. De meeste ondernemingen geven de impact aan. Van de onderzochte ondernemingen geeft 9% aan dat IFRS 9 een materiële impact heeft en voor IFRS 15 ligt dat percentage op 32%. IFRS 9 heeft materiële impact op de onderdelen Classificatie en waardering en Bijzondere waardevermindering. Voor IFRS 15 worden de nadere richtlijnen over het onderkennen van prestatieverplichtingen als belangrijkste reden voor aanpassing genoemd. Bij IFRS 9 kwantificeert zo’n 30% van de ondernemingen de impact en bij IFRS 15 is dat zo’n 50%. De meeste ondernemingen zonder kwantitatieve indicatie geven aan dat de impact niet materieel is.
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Rhee, Chang Seop, Yong Keun Yoo, and Seung Min Cha. "The Effect Of IFRS Adoption On Likelihood Of Management Earnings Forecasts: Evidence In Korea." Journal of Applied Business Research (JABR) 32, no. 6 (November 2, 2016): 1697. http://dx.doi.org/10.19030/jabr.v32i6.9817.
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Korean listed companies adopted International financial reporting standards (IFRS) in 2011 mandatorily. The IFRS adoption modifies corporate financial reporting structure and further it can affect managers’ incentive for disclosing their earnings forecasts. We investigate the association between IFRS adoption and likelihood of management earnings forecasts. From the empirical results, we find that mandatory IFRS adopted companies are less likely to issue their earnings forecasts after IFRS adoption. It implies that investors’ belief about management earnings forecasts as useful information is weakened after IFRS adoption compare to pre-IFRS adoption period. Therefore, managers’ incentive for providing earnings forecasts decreases. This study will contribute to academics and disclosure-related practitioners by reporting how IFRS adoption makes an influence to managers’ incentive of management earnings forecasts issuance. We also believe that the empirical evidence may shed some lights on the understanding of the spillover effect of IFRS adoption to management earnings forecasts.
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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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Oppong, Clement, and Mehmet Aga. "Economic growth in European Union: does IFRS mandatory adoption matter?" International Journal of Emerging Markets 14, no. 5 (December 2, 2019): 792–808. http://dx.doi.org/10.1108/ijoem-01-2018-0010.
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Purpose The purpose of this paper is to examine the impact of International Financial Reporting Standards (IFRS) adoption on economic growth. Design/methodology/approach Using data from 2005–2014, the study examined whether the mandatory adoption of IFRS increases economic growth synchronicity in the European Union (EU) context. The study utilizes a sample of 28 countries containing 10-year observations in the EU market where IFRS have been adopted since 2005. The empirical model, relating to economic growth synchronicity with the adoption of IFRS, and other country-specific control variables were analyzed using the dynamic panel data technique. Findings Different specifications of the model results showed that IFRS adoption improves the economic growth and that IFRS adoption matters for developing economies than developed ones. It is, therefore, recommended that authorities in Europe should try to enforce the adoption and implementation of IFRS, especially among the developing economies. Originality/value The paper’s investigation of the impact of IFRS on economic growth expands the extant literature. Studies that dealt with IFRS impacts mostly fixate on the accounting benefits of IFRS adoption to institutional investors and fail to capture the commensurate impact of IFRS adoption on macroeconomic indicators. This little attention is because prior researchers suggest IFRS adoption is important in shaping financial reporting characteristics which provide useful information to the prime users of financial reports. Also, separating the study’s countries into developed and developing countries would help delineate the impact of IFRS adoption on economic growth based on the stage of development.
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Nurunnabi, Mohammad, Eva K. Jermakowicz, and Han Donker. "Implementing IFRS in Saudi Arabia: evidence from publicly traded companies." International Journal of Accounting & Information Management 28, no. 2 (March 2, 2020): 243–73. http://dx.doi.org/10.1108/ijaim-04-2019-0049.
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Purpose The Saudi Organization for Certified Public Accountants (SOCPA) requires that International Financial Reporting Standards (IFRS), as endorsed in Saudi Arabia, be used by all listed and unlisted companies. This study aims to provide insight into IFRS implementation problems, based on a survey sent to Saudi Arabian companies listed on Tadawul, the Saudi stock market (i.e. financial hub in the Middle East). Design/methodology/approach The survey focused on the impact that IFRS conversion has had on companies, their accounting and their finance strategies. The benefits and challenges of the adoption of IFRS are analyzed, including matters pertaining to the level of understanding and experience with IFRS, perceptions about the quality of IFRS and the impact of adoption of IFRS on consolidated equity and net income. Findings The survey had a response rate of 72 per cent. The results indicate a majority of respondents support conversion to IFRS as it results in higher quality financial reporting; the most important expected benefits of adopting IFRS include greater reporting transparency and improved comparability with other businesses; other expected benefits include harmonization of internal and external reporting, and increased cross-border investment opportunities; the IFRS process is costly and ties up resources because of its complexity and training needed and companies expect increased volatility in reported financial results that will impact share option plans and/or other incentive plans tied to profits. However, the authors find strong support among preparers of the financial statements for IFRS, as evidenced by higher agreement among respondents to the survey on the benefits of adopting IFRS, rather than on the costs of its adoption. Furthermore, the analysis shows that the likelihood of Saudi Arabian firms that are in favor of adopting IFRS decreases if the audit firm is one of the Big 4. The reason for this negative relationship could be that the cost of transition toward IFRS will be high. Therefore, Saudi Arabian firms will not favor a transition toward IFRS when their audit firm belongs to the Big 4. Most difficult to implement IFRS, as listed by respondents, include those on financial instruments, revenue, leases and employee benefits. Originality/value The authors show how economic and environmental factors play a critical role in the IFRS implementation process. This study should be important to all countries worldwide that are in the process of adopting IFRS.
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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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Jones, Christopher G., Rishma Vedd, and Sung Wook Yoon. "Employer Expectations Of Accounting Undergraduates Entry-Level Knowledge And Skills In Global Financial Reporting." American Journal of Business Education (AJBE) 2, no. 8 (November 1, 2009): 85–102. http://dx.doi.org/10.19030/ajbe.v2i8.4602.
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The globalization of business has led to the adoption of International Financial Reporting Standards (IFRS) around the world. Recently, the Securities and Exchange Commission issued a roadmap for IFRS implementation starting in 2014, with earlier adoption permitted. Yet according to recent surveys, few U.S. universities have a strategy in place to integrate IFRS into the undergraduate accounting curriculum. Using survey research, this paper explores the entry-level knowledge and skills employers expect of new hires in the near term and five years from now. Results indicate that employers already require accounting graduates to have some awareness of IFRS and its relationship to U.S. GAAP. By 2013 students should be able to apply IFRS in recording transactions, prepare IFRS-based financials, and reconcile IFRS to U.S. GAAP. The paper concludes with recommendations based on survey results for incorporating IFRS into the undergraduate accounting curriculum.
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Mohammed, Nor Farizal, Fadzlina Mohd Fahmi, and Asyaari Elmiza Ahmad. "The need for Islamic accounting standards: the Malaysian Islamic financial institutions experience." Journal of Islamic Accounting and Business Research 10, no. 1 (January 7, 2019): 115–33. http://dx.doi.org/10.1108/jiabr-12-2015-0059.
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Purpose The purpose of this paper is to examine views of financial statements preparers with regard to the practices in reporting Islamic Financial Institutions (IFIs), thereby contributing to answer whether there is indeed a need for a separate set of Islamic accounting standards for IFIs. Design/methodology/approach Drawing upon seven in-depth semi-structured interviews conducted with IFIs’ leading officers who are highly involved in preparing financial statements in Malaysia, the paper offers evidence on the current stance of reporting the operation of IFIs, the influence of AAOIFI accounting standards and the feasible application of IFRSs in reporting IFIs. Findings While it is shown that most of the interviewees admit the feasibility of IFRSs in reporting IFIs, many interviewees placed greater emphasis on the spirit of Islam based on Islamic contract. In that case, the findings show that to convince the public that they offer Shariah compliance products approved by Shariah Advisory Council, there is a need for specificity guidelines or standards for IFIs within the IFRS framework. The main concern raised in the paper is that separate Islamic accounting standard is not needed, instead the option needs to be within the IFRS framework with the collaboration work of Accounting and Auditing for Islamic Financial Institutions (AAOIFI) and the International Accounting Standard Board (IASB). Originality/value With the recent rapid growth of IFIs, this paper contributes regarding the inconclusive stance on the need for specificity accounting standards for IFIs such as the ones issued by AAOIFI. It adds to the current body of knowledge by highlighting the collaboration of the AAOIFI and the IASB for the intended specific guidelines for IFIs to be accepted globally.
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Ozili, Peterson K., and Erick R. Outa. "Bank earnings smoothing during mandatory IFRS adoption in Nigeria." African Journal of Economic and Management Studies 10, no. 1 (March 11, 2019): 32–47. http://dx.doi.org/10.1108/ajems-10-2017-0266.
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PurposeThe purpose of this paper is to examine the extent of bank earnings smoothing during mandatory International Financial Reporting Standards (IFRS) adoption in Nigeria, to determine whether mandatory IFRS adoption increased or decreased income smoothing among Nigerian banks.Design/methodology/approachThe authors employ panel regression methodology to estimate the association between loan loss provisions (LLPs) and bank earnings.FindingsThe authorse find that the mandatory adoption of IFRS is associated with lower earnings smoothing among Nigerian banks, which implies that Nigerian banks do not use LLPs to smooth reported earnings during the mandatory IFRS adoption period. The authors find evidence for earnings smoothing via LLP during voluntary IFRS adoption. Earnings smoothing is not significantly associated with listed and non-listed Nigerian banks during voluntary and mandatory IFRS adoption. Overall, the findings indicate that mandatory IFRS adoption improves the informativeness and reliability of LLPs estimate by discouraging Nigerian banks from influencing LLPs for earnings smoothing purposes during the mandatory IFRS adoption. The findings of this paper are relevant to the debate on whether IFRS reporting improves the quality of financial reporting among firms in Nigeria.Practical implicationsOverall, the findings indicate that mandatory IFRS adoption improves the informativeness and reliability of LLPs estimate by discouraging Nigerian banks from influencing LLPs estimates to smooth earnings during the period of mandatory IFRS adoption.Social implicationsThe implication of the study is that IFRS has higher accounting quality than local GAAP in Nigeria as it improves the quality and informativeness of accounting numbers (LLPs and earnings) reported by Nigerian banks during the period examined.Originality/valueThis study is the first attempt to focus on income smoothing during mandatory IFRS adoption in Nigeria.
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Susliani, Winda, Ersa Tri Wahyuni, and Evita Puspitasari. "The Institutional Work of IFRS adoption in Telco Company: Transformation from US GAAP to IFRS." Jurnal Akuntansi Bisnis 20, no. 1 (March 30, 2022): 1–16. http://dx.doi.org/10.24167/jab.v20i1.4401.
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AbstractThe literature on the IFRS adoption process to date has mainly focused on the macro level. This paper draws on an in-depth longitudinal analysis of the Indonesian company PT Telekomunikasi Indonesia Tbk to understand the role of institutional work in the transformation of organization from US GAAP to IFRS. The paper examines the work of actors to disrupt, create, and maintain the institution during the transition to IFRS. The study has revealed that the IFRS adoption at the company is beyond a shallow compliance of financial reporting standards but has significant impact on the company’s transformation as a whole. The IFRS adoption has transformed the business process and the organization culture. The study has also revealed that there are different types of institutional works during the four stages of institutional transformation of the company: Stability, Conflict, Change and Implementation. The tone of the top management board in the organization is crucial to the key actors to stay committed to the long transformation process. This paper contributes to the literature of the IFRS adoption process by providing a framework of the IFRS adoption at the micro level. The case study may assist other companies in their real transformation through embracing the IFRS. AbstrakLiteratur tentang proses adopsi IFRS sampai saat ini terutama berfokus pada tingkat makro. Makalah ini mengacu pada analisis longitudinal mendalam dari perusahaan Indonesia PT Telekomunikasi Indonesia Tbk untuk memahami peran kerja institusional dalam transformasi organisasi dari US GAAP ke IFRS. Makalah ini mengkaji pekerjaan para aktor untuk mengganggu, menciptakan, dan memelihara institusi selama transisi ke IFRS. Studi tersebut telah mengungkapkan bahwa adopsi IFRS di perusahaan berada di luar kepatuhan standar pelaporan keuangan yang dangkal tetapi memiliki dampak signifikan pada transformasi perusahaan secara keseluruhan. Adopsi IFRS telah mengubah proses bisnis dan budaya organisasi. Studi ini juga mengungkapkan bahwa ada berbagai jenis pekerjaan institusional selama empat tahap transformasi institusional perusahaan: Stabilitas, Konflik, Perubahan dan Implementasi. Nada dewan manajemen puncak dalam organisasi sangat penting bagi para aktor kunci untuk tetap berkomitmen pada proses transformasi yang panjang. Makalah ini berkontribusi pada literatur proses adopsi IFRS dengan menyediakan kerangka kerja adopsi IFRS di tingkat mikro. Studi kasus dapat membantu perusahaan lain dalam transformasi nyata mereka dengan merangkul IFRS.
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Mua'rrif, Zul Ihsan. "KUALITAS MANAJEMEN LABA SEBELUM DAN SETELAH PENGADOPSIAN INTERNATIONAL FINANCIAL REPORT STANDARD (IFRS) PADA JAKARTA ISLAMIC INDEX (JII)." Jurnal Tabarru': Islamic Banking and Finance 2, no. 1 (May 1, 2019): 26–38. http://dx.doi.org/10.25299/jtb.2019.vol2(1).3441.
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Pengimplementasian IFRS dimaksudkan untuk memberikan kualitas pelaporan keuangan yang relevan dan dapat diterima secara umum, sehingga memberikan kemudahan bagi berbagai pihak dalam menilai perkembangan perusahaan. Dampaknya yaitu adanya signifikansi pendapatan yang diproksikan dengan kualitas manajemen laba. Pemilihan penelitian di Indonesia dikarenakan perkembangan keuangan syariah yang semakin meningkat dengan salah satu buktinya yaitu adanya berbagai indeks saham syariah. Salah satu indeks saham syariah yang paling likuid adalah JII. Dimana JII merupakan indeks saham syariah yang terpilih dari ISSI. Penelitian ini bertujuan untuk menguji apakah pengadopsian IFRS dapat meningkatkan kualitas manajemen laba perusahaan yang terdaftar di JII. Penelitian ini mencakup periode sebelum dan setelah pengadopsian IFRS. Metode yang digunakan adalah analisis deskriptif. Hasil penelitian menunjukkan bahwa setelah konvergensi IFRS, terdapat peningkatan nilai laba perusahaan dibandingkan dengan sebelum pengadopsian IFRS. Dalam analisis sensitivitas masing-masing revenue dan PPE mempengaruhi manajemen laba. Revenue juga mengalami peningkatan setelah pengadopsian IFRS, akan tetapi PPE mengalami penurunan setelah pengadopsian IFRS. Penelitian ini menarik karena revenue dan PPE berbanding terbalik signifikansinya setelah IFRS.
Kata Kunci : IFRS, JII, Revenue, PPE.
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Osamwonyi, Ohonba, Josiah Mary, and Gbenga Ekundayo. "INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS) ADOPTION AND THE VALUE RELEVANCE OF ACCOUNTING INFORMATION IN SELECTED AFRICAN COUNTRIES." DIEM Dubrovnik International Economic Meeting 8, no. 1 (August 2023): 113–27. http://dx.doi.org/10.17818/diem/2023/1.12.
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The focus of the study was on examining International Financial Reporting Standard (IFRS) Adoption and The Value Relevance of Accounting Information in Selected Africa Countries: A Comparative Analysis of Nigeria and South Africa. The focus on cross country analysis in the subject of IFRS adoption and value relevance is growing quite slowly. However. Cross country empirical studies for countries in Africa continent is largely non-existent or at best difficult to find. This study address this gap by adopting a cross-country approach using Nigeria and South Africa. The study employed a longitudinal research design. The population and the sample of the study comprised the top companies in each country by way of market capitalization for the countries in the study, namely: Nigeria and South Africa as at December, 2019. The convenience sampling technique was used in the study to select listed firms across the two countries. Secondary data sourced from corporate annual reports of the sampled quoted firms got from the Nigerian Exchange Group (NGX) and Johannesburg Stock Exchange (JSE) were used for the study. The study made use of panel data regression and the results revealed that for South-Africa, Earnings Per Share (EPS) and EPS*IFRS were both positive respectively, and also statistically significant. Book Value Per Share (BVPS) and BVPS*IFRS were both positive respectively, and also statistically significant. Dividends Per Share (DPS) and DPS*IFRS were both positive respectively, and were also statistically significant. Intangible Assets (INTA) was not value relevant in the pre-IFRS period given the absence of the statistical significance of the variable, but show some evidence of weak incremental relevance from IFRS adoption as the interaction between INTA*IFRS was significant. Cash Flow Per Share (CFPS) was positive and significant; and furthermore, the interaction of CFPS*IFRS was also positive and statistically significant. For Nigeria, EPS and EPS*IFRS are both positive respectively, with EPS statistically significant. BVPS and BVPS*IFRS are both positive respectively, with only BVPS statistically significant. Furthermore, DPS and DPS*IFRS are both positive respectively, and statistically significant. INTA and INTA*IFRS are both insignificant respectively. Finally, CFPS is positive, though not significant; but the interaction of CFPS*IFRS is positive and significant. It therefore implies that, EPS*IFRS, BVPS*IFRS, DPS*IFRS, INTA*IFRS, CFPS*IFRS shows whether EPS, BVPS, DPS, INTA, CFPS reflects a stronger statistical significance in explaining share price when interacted with IFRS adoption (post) than without it (pre) in the two selected Countries( Nigeria and South Africa) . The study concluded that, there is the need for capital markets in developing countries to become more efficient and for companies and accounting regulatory institutions to ensure timely and quality disclosures of accounting information. It recommended that stock exchanges in developing markets should put a frame-work in place that measure the rate of compliance of each listed firm’s annual report with IFRS demands to enable the sanctioning of firms that recorded below the expected compliance level. The study also recommended amongst others, that financial reporting councils and accounting standards setting bodies globally should support the effort to ensure improved compliance with IFRS as a matter of policy.
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Felski, Elizabeth. "Do Common Features Exist Among Countries That Locally Adopt IFRS?" International Journal of Accounting and Financial Reporting 5, no. 2 (October 4, 2015): 144. http://dx.doi.org/10.5296/ijafr.v5i2.8325.
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Although International Financial Reporting Standards (IFRS) have clearly emerged as the preferred global accounting standard, previous studies of IFRS have mainly focused on post-adoption outcomes. The few IFRS adoption-focused studies are either limited in scope or are based on outdated versions of IFRS. This paper fills these holes in the literature by offering a comprehensive analysis of IFRS adoption: first, through an expanded classification system which includes local adoption as a distinct form of IFRS adoption and then through ANOVA, discriminant analyses and regression analyses. Several variables were identified as significant drivers of adoption status, one being the Asian region which consistently emerged as a powerful driver of adoption type suggesting previous analysis of IFRS diffusion is incomplete, missing this key region variable. This expanded typology suggests that the system of country classification of required/not required currently used is inadequate in capturing how IFRS is adopted in practice.
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Bui, Ngoc Thi, Oanh Thi Tu Le, and Huy Manh Dao. "Estimation of Benefits and Difficulties When Applying IFRS in Vietnam: From Business Perspective." International Journal of Financial Research 11, no. 4 (June 28, 2020): 165. http://dx.doi.org/10.5430/ijfr.v11n4p165.
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While many countries around the world have adopted IFRS at different levels, Vietnam is in the process of IFRS adoption by 2022. The study was conducted through the survey of 119 directors and accountants to estimate the benefits and difficulties of applying IFRS in Vietnam. The forecast content include (i) Business benefits; (ii) Benefits for investors; (iii) Benefits to policy makers; (iv) Benefits for state management agencies; (v) Challenges of applying IFRS. By regression analysis, the forecast results showed that all factors have a significantly affect on the IFRS adoption in Vietnam and they explain 54.5% of the reasons for the application. The group of benefits has a positive impact on IFRS application in Vietnam, of which, the strongest impact is the business benefits, while the challenge factor has a negative impact on IFRS adoption in Viet Nam. This result suggests policy implications for the application of IFRS in Vietnam.
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Khan, Shahid, Mark C. Anderson, Hussein Warsame, and Michael E. Wright. "Liquidity and IFRS Adoption in Canada." Journal of International Accounting Research 20, no. 2 (June 1, 2021): 87–109. http://dx.doi.org/10.2308/jiar-17-546.
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ABSTRACT We examine cross-sectional differences in changes in liquidity for Canadian firms between pre-IFRS and post-IFRS adoption based on their pre-IFRS disclosure quality. In a matched-sample analysis, with U.S. firms acting as control firms, we find that liquidity improved after mandatory IFRS adoption for Canadian companies with high pre-IFRS disclosure quality, but declined for Canadian companies with low pre-IFRS disclosure quality, in comparison to U.S. peers. We find similar results when we stratify the sample based on total assets—larger Canadian firms gained liquidity, while smaller Canadian firms lost liquidity, relative to the U.S. control firms. Our results are sustained when we use firms listed in Canada that report under U.S. GAAP before and after IFRS adoption as control firms.
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Lakew, Deresse Mersha, and Mohammed Getahun Musa. "PREPAREDNESS TO TEACH INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS) IN ETHIOPIA: A STUDY ON SELECTED UNIVERSITIES." Business Excellence and Management 9, no. 3 (September 15, 2019): 6–18. http://dx.doi.org/10.24818/beman/2019.9.3-01.
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Modern type of business organizations was started in Ethiopian before hundred years ago and the number is tremendously increasing nowadays. However, there was no one set of generally accepted accounting standard used by business organization in the country till December 2014 when IFRS was proclaimed as the law of the land. Though IFRS was accepted for financial reporting in the country starting from 2014, the level of preparedness in teaching IFRS in Ethiopian universities was not studied. This paper is aimed at identifying problems in teaching IFRS among teachers in Ethiopia universities. To achieve this objective, data was collected from 46 academic staffs working in six universities in the country. The study found that teachers in relatively old universities are trying to incorporate IFRS in their course plan as compared to those in recently established universities. Generally, the level of preparedness to incorporate IFRS is low in majority of the universities under study. Lack of text books in line with IFRS, problem of integrating IFRS in to the curriculum and lack of practical experiences are the top three bottle necks that hinder teaching IFRS in our universities. In order to prepare our staffs to teach in line with IFRS, both short and long term capacity building strategies were recommended in this study.
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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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Krishnan, Gopal V., and Jing Zhang. "Does Mandatory Adoption of IFRS Enhance Earnings Quality? Evidence From Closer to Home." International Journal of Accounting 54, no. 01 (March 2019): 1950003. http://dx.doi.org/10.1142/s1094406019500033.
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The global accounting convergence and the often discussed probable adoption of International Financial Reporting Standards (IFRS) by U.S. regulators is a timely topic. We contribute to the literature by examining a more recent mandatory IFRS adoption by Canada. Canadian GAAP (CGAAP) is often considered a close substitute for U.S. GAAP. One key feature of this setting is that two earnings numbers are available for fiscal year 2010 since Canadian firms were required to reconcile earnings under CGAAP with earnings under IFRS. We run a “horse race” of earnings quality between earnings under CGAAP and IFRS. We find that on average, relative to IFRS-earnings, earnings under CGAAP have greater association with next period cash flows and higher degree of persistence. Further, when the difference between earnings under CGAAP and IFRS is large, IFRS-earnings are less value-relevant and less persistent. These results strongly support the notion that higher earnings quality is associated with CGAAP. Finally, the results also indicate that differences between CGAAP and IFRS with regard to accounting for financial instruments and investments significantly impair the quality of IFRS-earnings. Our findings are potentially informative to any revival of policy debates on the possible adoption of IFRS by U.S. firms.
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Nguyen, Van Thi Hong, Co Trong Nguyen, Anh Ngoc Mai, and Ha Ngoc Dao. "Benefits and costs of adopting international financial reporting standards." International Journal of Management and Sustainability 12, no. 2 (February 3, 2023): 105–13. http://dx.doi.org/10.18488/11.v12i2.3279.
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The application of international financial reporting standards (IFRS) plays an important role in improving the quality of enterprises’ financial statements. At the same time, adopting IFRS makes it easier for companies to access foreign capital. Therefore, the use of IFRS is indispensable for Vietnamese enterprises, especially for companies listed on the stock market. This study was conducted to evaluate the effects of benefits and costs on Vietnamese enterprises’ choice to adopt IFRS. The research surveyed 157 companies. The results of regression analysis using Statistical Package for Social Sciences (SPSS) software show that benefits have a positive impact on Vietnamese companies’ decision to adopt IFRS. On the other hand, costs have a negative impact on IFRS adoption. Based on the results of this study, the trade-off theory is used to explain the relationship between the costs and benefits of applying IFRS. When businesses find that the costs are too great for the company or are not yet balanced by the benefits, they do not apply IFRS. Therefore, business leaders have a correct understanding of the difficulties and challenges of converting to IFRS and have a scientific, methodical, and clear plan and roadmap for the transformation. The authors also offer some suggestions for improving the application of IFRS.
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Wahyuni, Ersa Tri. "The Accountant Perceptions of The IFRS Convergence Plan In Indonesia." Jurnal Reviu Akuntansi dan Keuangan 1, no. 2 (October 12, 2011): 85. http://dx.doi.org/10.22219/jrak.v1i2.510.
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The Indonesian Institute of Accountants (Ikatan Akuntan Indonesia or IAI), on 23 December 2008, announced that the convergence of local standard to the international accounting standard (IFRS) should be completed by 2012. Indonesia as one of member of the Group of Twenty (G-20) should strive to achieve IFRS compliance as it is one of G-20 goal and commitment in enhancing economic cooperation around the world. This study aims to examine Indonesian accountant perceptions regarding IFRS convergence in 2012. This study is based on a survey which focuses on accountant perceptions in Indonesia. The total population in this study was 275 accountants and auditors who attended the four accounting events in Jakarta held by IAI and IAPI. There was a total sample of 143 respondents, 76 accountants from companies and 67 auditors from public accounting firms. The research revealed many interesting findings. Overall the perception toward the IFRS convergence is positive with 72% respondents has a positive perception and 6.3% respondents have strong positive perception. Language issue in understanding PSAK (a translation from IFRS) is perceived as a problem more to the accountants work in companies rather than accounting firms. However both types of accountants view IFRS training to staffs as an important issue for IFRS implementation in Indonesia. With regard to the advantages of IFRS implementation in Indonesia, the foreign-affiliated institutions voiced higher agreement that IFRS will result in greater comparability of financial performance. They are also confident that Indonesia is ready for IFRS convergence by 2012 in contrast with non-affiliated institutions. And lastly accountants with 0-5 years experience group expressed greater concerns towards Indonesia’s readiness for IFRS implementation as compared to accountants with more than 15 years experience. However overall perception shows that accounting professionals surveyed has positive perceptions towards IFRS convergence in Indonesia Keywords: IFRS Convergence, Implementation, Accountants perception
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Moser, Randy. "IFRS and convergence in China and the USA." Journal of Technology Management in China 9, no. 1 (April 1, 2014): 56–66. http://dx.doi.org/10.1108/jtmc-12-2013-0042.
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Purpose – The purpose of this paper is to perform a brief examination of International Financial Reporting Standards (IFRS) and the progress towards IFRS convergence in the accounting environments of China and the USA, providing useful information on the current status and future of IFRS convergence in these countries. Design/methodology/approach – A range of IFRS-related literature from 1993 to 2013 was analyzed to provide the current status of IFRS and to determine the past, present and future of IFRS convergence in the country examinations. Findings – IFRS convergence and adoption has occurred on a global scale due to the call for a single set of standards. China's most significant obstacles include training accounting professionals and becoming more involved in the International Accounting Standards Board (IASB) standard setting process. The USA's most significant obstacle is completing the Securities and Exchange Commission roadmap milestones, which will progressively move the accounting industry towards IFRS convergence. Research limitations/implications – These findings have been limited to an overview of IFRS convergence and adoption within China and the USA. Additional research opportunities exist by examining how successful countries have been in protecting individual economic interests by working with the IASB in the standard setting process for the IFRS, as opposed to being passive in the process. One economic indicator that should be examined is foreign direct investment, which has major impacts on country development and can be influenced by financial standards such as IFRS. Practical implications – China and the USA both have milestones identified in this paper that will need to be reached before benefits may be reaped from the converging to IFRS. Originality/value – These findings show that IFRS standards are being implemented globally in many nations, providing a common set of reporting tools to businesses and investors. Through these standards, China and the USA are working to be even more competitive forces in financial markets.
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Ovharhe, Orugba Harry, and Amarachukwu Mary Abada. "IFRS Adoptions on Entrepreneurial Intentions: The Nigeria Experience from 2006-2017." American Journal of Social Development and Entrepreneurship 2, no. 2 (May 23, 2023): 23–36. http://dx.doi.org/10.54536/ajsde.v2i2.1576.
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This study investigated pre and post-IFRS adoption and entrepreneurial intentions from 2006-2017 using Panel Data from annual financial statement of quoted companies. Data for the study were obtained from secondary sources and analysed using Eview9 statistical package namely: ADF Unit Root Test, Panel Cointegration test; Bayesian Error Correction Model, Panel OLS among others. Data for the work were drawn with purposive sampling techniques from samples of 72 observations Nigeria stock exchange statistical Bulletins. The R-square (Coefficient of Determination) shows an explanation of Pre IFRS (0.280213) and Post IFRS (0.440826) percent of the employed model, i.e. Pre IFRS=28%; Post IFRS 44% and of the variance of the criterion variable is explained by the predictor variable. Which shows how well-fitted the regression is based on the unique theoretical combinations of variables. The Durbin-Watson being a test for auto/serial correlation shows an output of Post IFRS is 1.434594, while Pre IFRS is 1.428219 which signifies the absence of a serial or autocorrelation of the residual (error term) and appears to be within the relevant range. The F-statistics testing the overall hypothesis of the slope coefficient displays a very significant long run relationship based on the statistic output of Post IFRS (6.109727); Pre IFRS (0.004044) at a probability level of Post IFRS (0.000957); Pre IFRS (6.423459) which is less than the critical value of 0.05 (0.00 < 0.05). Therefore, overall we reject null hypothesis and alternate that there is significant (short-run and long-run) relationship between employed variables but in favour with Post IFRS adoption on entrepreneurial intentions. We therefore recommend among others that entrepreneurial intention should focus to boost the long term benefits of all total asset, current asset, non-current asset and profitability index in line with IFRS value relevance reporting accounting techniques.
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,, Triandi, Suratno ,, and Nurmala Ahmar. "VALUE RELEVANCE DAN IFRS ADOPTION DI INDONESIA: INVESTIGASI PADA PERUSAHAAN LQ-45 BURSA EFEK INDONESIA." Media Riset Akuntansi, Auditing & Informasi 15, no. 1 (February 7, 2017): 65–88. http://dx.doi.org/10.25105/mraai.v15i1.1650.
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Value relevance is being defined as the ability of information disclosed by financial statements to capture and summarize firm value. earnings per share (EPS) and book value of shares (BVS) and stock market price (SMP), both before and after IFRS adoption. Based on theresult,test there the valuerelevancebefore and after IFRS adoptio. The value relevance after IFRS adoption decreased. These findings differ from the findings in several countries have adopted IFRS. In many countries have adopted IFRS tends to increase the value relevance.Keyword : value relevance, earning per share, book value of equity, stock price, IFRS adoption, LQ-45
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van Beusichem, Henry, Abe de Jong, Douglas DeJong, and Gerard Mertens. "Transparency, corporate governance and firm performance in The Netherlands." Maandblad Voor Accountancy en Bedrijfseconomie 90, no. 7/8 (August 26, 2016): 308–22. http://dx.doi.org/10.5117/mab.90.31343.
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We explore the relations between transparency, corporate governance, and performance for Dutch exchange-listed firms over 1997-2007. Our measure for transparency is based on annual report information. In 2005 a new accounting standard (IFRS) became mandatory and applicable to the annual reports of Dutch listed firms. We investigate the effects of IFRS by comparing pre and post IFRS periods. We find that under IFRS transparency has increased substantially, and that the determinants of transparency have also changed. Pre-IFRS, disclosure is mainly driven by firm size, leverage and protective preference shares. Post-IFRS, we observe very little variation in disclosure practices.
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Ebaid, Ibrahim El-Sayed. "Incorporating International Financial Reporting Standards (IFRS) into Accounting Curricula: Perceptions of Undergraduate Accounting Students in Saudi Universities." Journal of Advanced Research in Economics and Administrative Sciences 2, no. 2 (April 29, 2021): 1–15. http://dx.doi.org/10.47631/jareas.v2i2.216.
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Purpose: The purpose of this study is to examine the perceptions of accounting students in Saudi Arabia on the extent of incorporating IFRS into accounting curricula in undergraduate accounting programs in Saudi universities after the mandatory implementation of IFRS in 2017. Approach/Methodology/Design: This study is cross-sectional and a questionnaire was used to collect data from accounting students in Saudi Arabia regarding the extent to which IFRS are incorporated into accounting curricula in undergraduate accounting programs in Saudi universities. The sample of the study included 132 accounting students from the largest and oldest three Saudi universities. The data was analyzed using descriptive statistics. Findings: The findings of the study revealed a weakness in students' awareness of IFRS due to the weakness in incorporating IFRS into the accounting curricula. The majority of students indicated that they do not have a separate course on IFRS, and if this course is included in the study plan, it is an elective course and not a required course. The textbooks that they study from in the university are old textbooks and therefore, do not include accounting treatments according to IFRS. Also, teachers do not mention the IFRS when explaining the topics included in the accounting courses. Practical Implications: The study has implications for Saudi universities. Based on the results of the study, Saudi universities should update curricula in undergraduate accounting programs so that IFRS are incorporated into accounting curricula. Accounting students will have careers where global transactions and interactions are common, so they need to be familiar with IFRS. The incorporation of IFRS into accounting curricula increases the ability of Saudi universities to provide graduates who can obtain job opportunities and succeed in the workplace after graduation. Originality/value: Accounting students are prospective accountants, so they should be aware of the IFRS they will use in preparing and auditing financial statements after graduation. Therefore, it is important to explore the universities' response to the adoption of IFRS by incorporating IFRS into the accounting curricula to provide a graduate who can implement these accounting standards after graduation.
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Dayyala, Niharika, Syed Kashif Raza Zaidi, and Kallol Bagchi. "Diffusion of IFRS using innovation diffusion models." International Journal of Accounting & Information Management 28, no. 4 (June 1, 2020): 685–701. http://dx.doi.org/10.1108/ijaim-01-2020-0002.
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Purpose This study aims to examine the diffusion pattern of International Financial Reporting Standards (IFRS) into the countries and identifies the channels of diffusion. Design/methodology/approach Data includes 98 countries that made a public commitment to IFRS adoption from 2000 to 2016. Adoptee countries are categorized based on Rogers’ adopter categorizations to understand country characteristics. Innovation diffusion models such as internal influence, external influence and bass diffusion that explain diffusion patterns are applied to the cumulative adoption of IFRS. Coefficients of internal and external diffusion are obtained using the models to explain the mode of diffusion pattern of IFRS. Further tests are done to identify the best model that explains IFRS diffusion. Findings Findings show that IFRS diffusion is a result of external influence through vertical communication from a centralized body (IASB) and internal influence due to imitation and interpersonal communication between countries. Imitation effect among the countries has a stronger effect on the IFRS adoption compared to the communication obtained from IASB. Practical implications Findings obtained can help standards-setting bodies, organizations and countries to understand the potential future of adopters and non-adopters. It facilitates the standard-setting bodies to manage IFRS diffusion by implementing measures to spread the word on the benefits of IFRS. Originality/value The study generates value by modeling a successive increase in the number of IFRS adoptee countries using empirical methods and identifies the reasons for the diffusion life cycle of IFRS.
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El Guindy, Medhat Naguib. "DID IFRS REPORTING BY UK FIRMS REDUCE EARNINGS MANAGEMENT?" Corporate Ownership and Control 11, no. 2 (2014): 488–510. http://dx.doi.org/10.22495/cocv11i2c5p5.
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This paper investigates the effect of reporting under International Financial Reporting Standards (hereafter IFRS) versus reporting under UK GAAP on earnings management in the UK. Prior studies find mixed evidence regarding the effect of voluntary and mandatory adoption of IFRS on earnings quality. I test whether the effect of reporting under IFRS on earnings management is sufficient to overcome earnings management incentives. Furthermore, I test whether the effect of IFRS reporting is conditional on audit quality surrogated by audit firm size. I build the analysis on measures of discretionary accruals and earnings benchmark tests. I find evidence that reporting under IFRS generally reduces levels of earnings management and furthermore, the mitigating effect of IFRS is stronger for income decreasing than for income increasing earnings management. In addition, I find that audit quality plays a key role in IFRS reporting, with only firms audited by big four auditors having a significant IFRS reporting effect.
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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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Kim, Jeong-Bon, Xiaohong Liu, and Liu Zheng. "The Impact of Mandatory IFRS Adoption on Audit Fees: Theory and Evidence." Accounting Review 87, no. 6 (June 1, 2012): 2061–94. http://dx.doi.org/10.2308/accr-50223.
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ABSTRACT: This study examines the impact of International Financial Reporting Standards (IFRS) adoption on audit fees. We first build an analytical audit fee model to analyze the impact on audit fees for the change in both audit complexity and financial reporting quality brought about by IFRS adoption. We then test the model's predictions using audit fee data from European Union countries that mandated IFRS adoption in 2005. We find that mandatory IFRS adoption has led to an increase in audit fees. We also find that the IFRS-related audit fee premium increases with the increase in audit complexity brought about by IFRS adoption, and decreases with the improvement in financial reporting quality arising from IFRS adoption. Finally, we find some evidence that the IFRS-related audit fee premium is lower in countries with stronger legal regimes. Our results are robust to a variety of sensitivity checks. Data availability: Data are available from public sources identified in the paper.
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Moses Gabriel OTIEDHE and Edirin JEROH. "VALUE RELEVANCE OF ACCOUNTING INFORMATION OF QUOTED NIGERIAN FIRMS IN THE INDUSTRIAL GOODS SECTOR: ASSESSMENT OF THE PRE- AND POST- IFRS ERA." Finance & Accounting Research Journal 4, no. 4 (November 28, 2022): 243–56. http://dx.doi.org/10.51594/farj.v4i4.415.
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The possible impact that IFRS adoption may have on the relevance of accounting information of some selected quoted industrial goods sector firms in Nigeria. The studied periods spanned from 2003-2011 (pre-IFRS periods) and 2012-2020 (post-IFRS periods). The sample used in this article consisted of ten (10) readily chosen quoted industrial businesses. In the study, the share price served as both a regressand and a regressor, together with earnings per share and book value per share. The provided data were examined using descriptive statistics, a correlation matrix, and a variance inflation factor. The study opted for the Panel Corrected Standard Error (PSCE) due to heteroskedasticity challenges. The study finds that, on the overall, accounting information produced under the pre-IFRS periods are more value relevant than accounting information produced under the post-IFRS periods. Similarly, earnings per share during pre-IFRS periods have higher value relevance than post-IFRS periods. On the contrary, compared to the pre-IFRS periods, the post-IFRS periods have a higher value relevance for book value per share. The study concludes that the implementation of IFRS has not yet fully boosted the value relevance of accounting information for listed industrial products sector enterprises in Nigeria. As such, the recommends that management of the industrial goods sector firms in Nigeria should continue to adhere strictly to the standards laid down by IFRS for financial reporting and not be selective of standards. This will help to improve the value relevance of what is being reported especially to the stakeholders.
Keywords: Accounting Information, Value Relevance, Industrial Goods Sector, Firms, Pre- and post-IFRS adoption.
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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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Felski, Elizabeth. "How Does Local Adoption of IFRS for Those Countries That Modified IFRS by Design, Impair Comparability with Countries That Have Not Adapted IFRS?" Journal of International Accounting Research 16, no. 3 (June 1, 2017): 59–90. http://dx.doi.org/10.2308/jiar-51807.
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ABSTRACT Global adoption of International Financial Reporting Standards (IFRS) is thought to increase financial statement reliability and comparability. Although IFRS is required or allowed in over 130 nations, some countries modify IFRS as issued by the International Accounting Standards Board (IASB). This study is designed to closely examine each country that modifies IFRS in an effort to determine whether these modifications impair financial statement comparability. First is that countries lack the resources to implement the newest version of IFRS or ensure proper translation of the standards. Second is that countries make specific changes to allow IFRS to better meet the needs of their financial reporting environment. I categorize the first set of countries as default countries and the second set as design countries. The study results in several interesting and useful contributions. First, I develop a new typology for future IFRS research that includes not only the locally adopted category, but also the default and design categories. Second, the details of how countries modify IFRS make it clear that differences can exist in financial statements prepared in different countries both using IFRS. The users must be careful to understand how comparability may be impacted by these modifications.
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McAnally, Mary Lea, Sean T. McGuire, and Connie D. Weaver. "Assessing the Financial Reporting Consequences of Conversion to IFRS: The Case of Equity-Based Compensation." Accounting Horizons 24, no. 4 (December 1, 2010): 589–621. http://dx.doi.org/10.2308/acch.2010.24.4.589.
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SYNOPSIS: The potential conversion of accounting standards from U.S. GAAP to International Financial Reporting Standards (IFRS) raises the issue of unknown financial reporting consequences. We consider one important accounting issue, namely equity-based compensation, and study how IFRS conversion will affect financial statements and the quality of reported numbers. The difference between the two standards is that IFRS reports tax benefits from equity-based compensation at their intrinsic value each period. This amounts to quasi fair-value accounting under IFRS compared to historic-cost accounting under GAAP. We develop and compare pro forma GAAP and IFRS accounting reports for a broad cross section of U.S. firms. We find that IFRS yields lower deferred tax assets and recognized tax benefits for approximately two-thirds of the option grants in our sample. Moreover, reported tax items will be more volatile under IFRS and these effects will be more pronounced for firms with greater option use and stock price volatility. Importantly, we find that IFRS tax items are better able to predict future cash flows. One conclusion is that IFRS improves the relevance, and thereby, the quality, of at least some reported numbers.