Global Comparability Of Financial Reporting Under Ifrs
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Global Comparability Of Financial Reporting Under Ifrs
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Author : Francesco De Luca
language : en
Publisher: Springer Nature
Release Date : 2022-11-14
Global Comparability Of Financial Reporting Under Ifrs written by Francesco De Luca and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-11-14 with Business & Economics categories.
The globalization of financial markets worldwide has progressively pushed toward simultaneous globalization of accounting information. Thus, during the last 50 years, categories of preparers, users, and regulators have devoted their efforts to support the global comparability of financial reporting aiming at favoring the comparison of corporates’ financial performances at a cross-country level. In the same vein, IASB, national standard setters, and jurisdictions have participated in and given momentum to this process. At the same time, academic research has followed this process and tried to build a theoretical framework to address the related issues, to assess the impact on preparers, users, and regulators, while defining hindrances and obstacles to the comparability of financial reporting especially in an IFRS environment. In this context, this book reviews research studies on the comparability of financial reporting at a global level as well as highlights empirical analyses that demonstrate the extent to which global comparability has been achieved, and how it enhances value relevance of earnings across countries. It also looks at the cross-country investors’ perspectives by shaping the empirical analysis to provide further insights on the role of the "Big Four" auditing services in enhancing the comparability of earnings. The book provides an original contribution to the current debate about the comparability of financial reporting under IFRS and will be useful for researchers in the field.
Ifrs In A Global World
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Author : Didier Bensadon
language : en
Publisher: Springer
Release Date : 2016-05-13
Ifrs In A Global World written by Didier Bensadon and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-05-13 with Business & Economics categories.
This book, dedicated to Prof. Jacques Richard, is about the economic, political, social and even environmental consequences of setting accounting standards, with emphasis on those that are alleged to be precipitated by the adoption and implementation of IFRS. The authors offer their reasoned critiques of the effectiveness of IFRS in promoting genuine global comparability of financial reporting. The editors of this collection have invited authors from 17 countries, so that a great variety of accounting, auditing and regulatory cultures, and educational perspectives, is amply on display in their essays.
Achieving Global Convergence Of Financial Reporting Standards
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Author : Christopher Patel
language : en
Publisher: Emerald Group Publishing
Release Date : 2011-12-15
Achieving Global Convergence Of Financial Reporting Standards written by Christopher Patel and has been published by Emerald Group Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-12-15 with Business & Economics categories.
This research monograph examines whether International Financial Reporting Standards (IFRS) are interpreted and applied in a consistent manner within and across countries, and questions the implicit assumption that accounting convergence will automatically lead to comparability in financial reporting.
What Constitutes Good Financial Reporting
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Author : Christian Betz
language : en
Publisher: GRIN Verlag
Release Date : 2011-09-06
What Constitutes Good Financial Reporting written by Christian Betz and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-09-06 with Business & Economics categories.
Seminar paper from the year 2011 in the subject Business economics - Accounting and Taxes, grade: 1, Stockholm School of Economics (Accounting Faculty), language: English, abstract: Diverging views on the attribute of „comparability. for financial reporting under IFRS Six guest lectures at Stockholm School of Economics passed by and one word left a permanent mark on my mind. With a high regularity and consensus the representatives of different interest groups involved in financial reporting mentioned „comparability., sometimes referred to as „consistency. or „continuity., as one particularly important attribute of good financial reporting. Heurlin (2011, p. 8/12), as an IASB member, stressed the need to acknowledge consistency in financial reporting, which he regards as a proxy for good financial reporting. Scheja (2011), in his auditor role, stated that PwC has a major focus in auditing on ensuring comparability of financial reporting, i.e. by preventing the usage of non-GAAP measures for earnings management. According to him, the attribute of relevance is mainly ensured by preparers. Also, Gerentz (2011) mentioned the term comparability twice; first, stating that NCC aims at preventing managerial opportunism in IR, and second, stressing the need for NCC to create peer comparability by educating analysts about their own “more correct IFRS interpretation”. Last, Malmqvist (2011), representing analysts, pointed out the importance that firms enable peer comparability, i.e. by providing comparable income statements without company-specific non-GAAP measures, where irregularities are explained in footnotes, and by using more comparable accounting methods. So, on this point: All united? As opposed to the otherwise often diverging opinions, all interest groups1 strikingly seem to be aligned that comparability constitutes good financial reporting. But do the involved interest groups really share one joint perception about the attribute „comparability. for financial reporting? In particular, is the IASB.s idea of comparability defined in the framework widely accepted in practice? Considering the different interests of involved groups, one might doubt that those groups really share a common understanding, opinion and rationale with regards to 'comparability'. This paper reflects upon the two questions by taking three explicit perspectives: (1) IASB, (2) preparers, and (3) analysts / investors.
Ifrs And Us Gaap
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Author : Steven E. Shamrock
language : en
Publisher: John Wiley & Sons
Release Date : 2012-03-08
Ifrs And Us Gaap written by Steven E. Shamrock and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-03-08 with Business & Economics categories.
A practical comparison of—and expert guidance on—IFRS and GAAP written by a practicing controller International Financial Reporting Standards (IFRS) are used in over 120 countries. US companies will inevitably encounter IFRS when evaluating the financial health of suppliers and customers. IFRS and US GAAP: A Comprehensive Comparison provides instruction in accounting under IFRS within the context of US accounting standards. Practical and easy-to-use, this book includes a case study of a first time IFRS adoption, emphasizing the much greater degree of professional judgment that is needed for IFRS. Provides a heavy emphasis on practical examples Includes an online companion website with downloadable spreadsheets and templates Reflects current financial reporting trends Addresses accounting requirements of which today's auditors, accountants and preparers of financial reports need to be aware Clarifying IFRS, its impact on US companies, and where to start in understanding it, IFRS and US GAAP prepares US accountants to be knowledgeable with day to day financial accounting issues using IFRS's substantial similarity with US GAAP as a context.
International Financial Reporting Standards Ifrs And The Institutional Environment
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Author : Michael J. Neel
language : en
Publisher:
Release Date : 2012
International Financial Reporting Standards Ifrs And The Institutional Environment written by Michael J. Neel and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with categories.
Comparability is a desirable qualitative characteristic of financial information and critical for financial statement users' ability to identify and understand similarities and differences in financial results among reporting entities. Yet, little research explicitly considers either the determinants or benefits of comparability because of difficulty in identifying and measuring the theoretical construct of comparability. Further, the widespread global adoption of IFRS, a relatively homogenous set of accounting standards, is expected to increase comparability among companies that operate in different national jurisdictions. However, prior studies that examine the average impact of mandatory IFRS adoption on comparability find mixed results. I hypothesized that the impact of mandatory IFRS adoption on comparability varies with managers' reporting incentives and differences between countries' domestic standards and IFRS. Using listed firms from 34 countries, I documented that comparability under non-IFRS domestic standards is higher in countries that provide strong reporting incentives (i.e. countries with strict enforcement regimes or high earnings transparency). Additionally, I found an increase in comparability following IFRS adoption (relative to a control sample of non-adopters) in countries that provide strong reporting incentives or with large domestic GAAP-IFRS differences. In contrast, I found evidence of a decrease following IFRS adoption (relative to a control sample of non-adopters) in countries with weak reporting incentives or with small domestic GAAP-IFRS differences. Finally, I showed that changes in comparability surrounding adoption are positively associated with changes in the quality of firms' information environments.
Wiley Interpretation And Application Of International Financial Reporting Standards 2010
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Author : Barry J. Epstein
language : en
Publisher: John Wiley & Sons
Release Date : 2010-02-05
Wiley Interpretation And Application Of International Financial Reporting Standards 2010 written by Barry J. Epstein and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-02-05 with Study Aids categories.
Your one-stop resource for understanding current International Financial Reporting Standards With widespread acceptance and use of the IASB standards around the globe, the need to understand the IASB standards greatly increases. Wiley IFRS 2010 provides the necessary tools for understanding the IASB standards and offers practical guidance and expertise on how to use and implement them. The Wiley IFRS 2010 Book and CD-ROM set covers the most recent International Financial Reporting Standards (IFRS) and IFRIC interpretations. In addition, it is an indispensable guide to IFRS compliance. Detailed coverage of all previously issued IAS and IFRS standards and Standing Interpretations Committee (SIC) and International Financial Reporting Interpretations Committee (IFRIC) Equally valuable for preparers, auditors, and users of financial reports Provides a complete explanation of all IFRS requirements, coupled with copious illustrations of how to apply the rules in complex, real-world fact situations Serves as a reference guide during actual implementation of IFRS and preparation of IFRS-based financial statements To optimize your understanding, both examples created to explain particular IFRS requirements and selections from actual published financial statements are provided throughout the book, illustrating all key concepts.
Consideration Of Incorporating International Financial Reporting Standards Ifrs Into The Financial Reporting System For U S I
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Author : James L. Kroeker
language : en
Publisher: DIANE Publishing
Release Date : 2011-10-29
Consideration Of Incorporating International Financial Reporting Standards Ifrs Into The Financial Reporting System For U S I written by James L. Kroeker and has been published by DIANE Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-10-29 with Business & Economics categories.
International Corporate Reporting
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Author : Pauline Weetman
language : en
Publisher: Routledge
Release Date : 2020-02-19
International Corporate Reporting written by Pauline Weetman and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-02-19 with Business & Economics categories.
This textbook provides a comprehensive overview of international corporate reporting which enhances students’ understanding of diversity and convergence in the field. The authors discuss the institutional and cultural context in which international corporate reporting has developed over the years as well as the global reach of IFRS Standards from the IASB throughout and beyond the European Union, into interest groups and emerging economies. Other key elements explored throughout the book include assurance through auditing and corporate governance, narrative reporting, strategic and corporate social responsibility, group accounting, current accounting issues and taxation in corporate reports. Indicative research examples show how the methods used in research papers may be understood and applied. Case studies outline short projects based on corporate cases, with related links to material on corporate websites. Helpful and reliable sources of information and data are identified through hyperlinks to accessible websites. End-of-chapter questions encourage discussion of the main issues. Throughout there is a focus on accountability and the information needs of stakeholders. This new edition of a classic text is fully revised and updated in order to remain essential reading for students of international accounting and corporate reporting globally. The book will be an invaluable resource for postgraduate taught programmes and final-year undergraduate courses in accounting, finance and business studies.
Effects Of Adoption Of International Financial Reporting Standards
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Author : Wai Ling Yap
language : en
Publisher:
Release Date : 2007
Effects Of Adoption Of International Financial Reporting Standards written by Wai Ling Yap and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with Accounting categories.
International Financial Reporting Standards (IFRS) is said to produce higher quality accounting information, greater comparability of accounts, greater consistency of accounting processes, greater transparency between firms and lower costs of capital. However, there are arguments against the adoption of IFRS. The first objective of this study is to examine the accounting quality of IFRS earnings and equity, compared to the accounting quality of earnings and equity prepared under previous standards; that is GAAP (Generally Accepted Accounting Principles) for United Kingdom, Hong Kong, and Singapore firms. The second objective is to investigate the effect of IFRS on the accounts (earnings and equity) of the average listed firm in United Kingdom, Hong Kong and Singapore. These three countries are chosen because of their comparable historical Anglo-accounting system roots, but deviations in approaches during the accounting standards harmonization era. This study focuses on the initial adoption of IFRS, which is the most appropriate time to measure and fully capture the impact of the changes of accounting standards from GAAP to IFRS. The reason for this is because IFRS 1 First Time Adoption of International Financial Accounting Standards states that firms have to show reconciliations between previous GAAP and IFRS on (a) equity at the date of transition and the end of the latest period presented in the entity's most recent annual financial statements under GAAP, and (b) profit or loss of the latest period of the entity's most recent annual financial statements, with supplementary explanations necessary for understanding the transition. The results of this study shows the accounts of United Kingdom firms are most affected by the adoption of IFRSs when compared to Hong Kong and Singapore firms. Results also reveal that there is little evidence to conclude that financial statements prepared under IFRS are more market value relevant than financial statements prepared under GAAP.There is also little evidence to conclude that financial statements prepared under IFRSs are incrementally value relevant relative to financial statements prepared under GAAP. The conclusions are that countries that historically chose their GAAPs on selective IASs prior to the adoption of IFRSs were less affected by adjustments to companies equity and earnings. But these adjustments, even in the less harmonized companies in the United Kingdom, were not value relevant to the equity market.