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Author: Yusuf Nulla Publisher: ISBN: Category : Languages : en Pages : 27
Book Description
Globally, the use of the IFRS in financial reporting is the requirement in many countries. However, the question of whether such a global transition towards a single set of accounting standards has been met by the presumed benefits of higher accounting quality and comparability yet remains unanswered. This paper primarily examines the effect of the mandatory IFRS adoption in Canada by the Canadian telecommunication companies. Since this research is an empirical study, this research has adopted quantitative research method. That is, by conducting survey, it has collected archival data from the eight large telecommunication companies of Toronto Stock Exchange (TSX/S&P) index. It was a comparative study between the Canadian GAAP financial reporting from 2008 to 2010 and IFRS financial reporting from 2011 to 2012. The research question of this research study is: Does IFRS adoption in the Canadian financial institutions improve financial reporting quality? This research finds that the adoption of the IFRS in telecommunication companies have resulted in lower persistency and predictability in earnings; increase in earnings influence to shareholder value; negative volatility in market price; better predictability of cash flow and financial forecasts; decrease in accruals and timeliness loss of recognition; increase in fair market valuation; significant increase in value relevance; increase in valuation usefulness of earnings to BVPS; and increase in operating capability and predictability.
Author: Yusuf Nulla Publisher: ISBN: Category : Languages : en Pages : 27
Book Description
Globally, the use of the IFRS in financial reporting is the requirement in many countries. However, the question of whether such a global transition towards a single set of accounting standards has been met by the presumed benefits of higher accounting quality and comparability yet remains unanswered. This paper primarily examines the effect of the mandatory IFRS adoption in Canada by the Canadian telecommunication companies. Since this research is an empirical study, this research has adopted quantitative research method. That is, by conducting survey, it has collected archival data from the eight large telecommunication companies of Toronto Stock Exchange (TSX/S&P) index. It was a comparative study between the Canadian GAAP financial reporting from 2008 to 2010 and IFRS financial reporting from 2011 to 2012. The research question of this research study is: Does IFRS adoption in the Canadian financial institutions improve financial reporting quality? This research finds that the adoption of the IFRS in telecommunication companies have resulted in lower persistency and predictability in earnings; increase in earnings influence to shareholder value; negative volatility in market price; better predictability of cash flow and financial forecasts; decrease in accruals and timeliness loss of recognition; increase in fair market valuation; significant increase in value relevance; increase in valuation usefulness of earnings to BVPS; and increase in operating capability and predictability.
Author: Mohan R. Lavi Publisher: John Wiley & Sons ISBN: 111904748X Category : Business & Economics Languages : en Pages : 272
Book Description
The industry-specific guide to IFRS interpretation andapplication One of the biggest challenges of any reporting standard is howbest to interpret and implement it in the context of a specificcompany or industry, given that each industry has its ownintricacies and nuances. The Impact of IFRS on Industryprovides specific guidance on applying IFRS in a diverse range ofsectors. Opening with an overview of IFRS, including a summary of all thestandards, the book goes on to provide detailed coverage of thestandards that can impact all industries, including IAS-40, IFRS 1,and IFRS 5. Thereafter, it offers practical advice and guidance onthe application of IFRS in specific industries, includingautomotive; oil and gas; bio-sciences; infrastructure; airlines;media and communications; government-owned entities; mining;software; banking and financial services; insurance; FMCG;shipping; pharmaceuticals; telecoms; real estate and construction;power; SMEs; retail; e-commerce; and the service sector. The bookconcludes with a discussion on the collateral impact ofimplementing IFRS and how forthcoming IFRS Standards could impactspecific industries. Worked examples are used throughout to demonstrate how thestandards are applied in practice. Understand the IFRS standards comprehensively Learn which standards impact all industries Examine the ways in which IFRS is applied in practice See how different standards are applied in specificindustries Suitable as a quick reference or a comprehensive guide, TheImpact of IFRS on Industry gives you the real-world IFRSanswers you need.
Author: Prasanna Kulkarni Publisher: ISBN: Category : Languages : en Pages :
Book Description
The basic objective of any business enterprises is to maximise the profits and create value for the shareholders. In meeting these objectives the management of the enterprise takes various decisions such as investing, financial and operational. The financial effect of these decisions is reflected in the financial statements prepared by the management. The financial statements consist of Profit & Loss Account, Balance Sheet and a cash flow statement.There are a few inherent limitations of the financial statements. The financial statements are prepared on the basis of concepts, conventions, and assumptions and what is more important is - personal judgement. There are different accounting policies and practices in relation to various financial items appearing in the financial statements. Such different accounting policies, even though principally correct may lead to differing profitability and financial positions. To make them comparable, its important to have them on a common platform for which, the Accounting Standards were introduced. There are 32 accounting standards as of today which govern accounting policies to be adopted by these enterprises. The Accounting standards are now replaced by International Financial Reporting Standards. The first time adoption and convergence are main issues related to adoption of IFRS.The applicability of IFRS to telecom industry needs special attention. There are a few unique issues related to application of IFRS to telecom industry. The issues involved consists of adoption of IFRS for the first time, presentation of financial statements, revenue recognition, intangible assets, impairment of non-financial assets, provisions and contingencies etc. The article attempts to review the application of IFRS to telecom industry and issues related thereto.
Author: Sidney Leung Publisher: ISBN: Category : Languages : en Pages : 37
Book Description
Previous studies suggest that firm-level reporting incentives play a significant role for heterogeneous effects on the adoption of International Financial Reporting Standards (IFRS) (e.g., Daske et al., 2013; Ball et al., 2003; Leuz et al., 2003; Burgstahler et al., 2006). In this study, we focus on family ownership control, which arguably creates severe agency problems between controlling and minority shareholders as well as weaker incentives for quality financial reporting and transparency. We examine whether the effect of full IFRS adoption on accounting quality and market liquidity is significantly mitigated by family control by comparing accounting quality metrics and market liquidity metrics between family-controlled and non-family-controlled firms listed in Hong Kong for the period before mandatory IFRS adoption and the period after adoption. We show that accounting quality and market liquidity generally improve after full IFRS adoption. However, when we take into consideration of family control, higher accounting quality in the post-IFRS period is only substantiated in the non-family-controlled firms. The accounting quality actually gets worse in the post-IFRS period for family-controlled firms. We also find that improvements in market liquidity after the adoption of IFRS are moderated by family control. The results indicate that the expected benefits of IFRS adoption are realised in non-family-controlled firms, but such desirable outcomes are severely moderated by family ownership control. Given that family control is a common phenomenon in Asia and other emerging economies, our findings are useful for policy makers and investors to better understand the impact of IFRS adoption.
Author: Erick Outa Publisher: LAP Lambert Academic Publishing ISBN: 9783847374930 Category : Languages : de Pages : 364
Book Description
This book contributes to the debates on the impact of the adoption of International Financial Reporting Standards (IFRS) on accounting quality. It improves on previous quantitative methods and testing conditions to find out whether IFRS has improved the quality of accounting in addition to using qualitative methods to verify the findings. The study has applied data from Kenya, but the approach and analysis is global thus, making the book widely acceptable around the world. The apex of the book is the measurement of the impact that IFRS adoption has had on the accounting quality for companies listed in Kenya and how these compares with the rest of the word. The global comparative theme is consistent throughout the book. This book is relevant for post-graduate students, professional and corporate accounting professionals, regulators of financial markets, accounting institutes, standard setting bodies and researchers in the area of financial reporting.
Author: Mohammad Nurunnabi Publisher: Emerald Group Publishing ISBN: 1801174423 Category : Business & Economics Languages : en Pages : 276
Book Description
Contributions to International Accounting aims to address a vital gap in research by focusing on providing relevant and timely studies on International Financial Reporting Standards implementation for local and international policymakers.
Author: Alfred Mully Publisher: GRIN Verlag ISBN: 3656605963 Category : Business & Economics Languages : de Pages : 52
Book Description
Masterarbeit aus dem Jahr 2007 im Fachbereich BWL - Bank, Börse, Versicherung, , Sprache: Deutsch, Abstract: Listed Dutch firms are required by law to prepare their financial statements in accordance with the International financial Statements (IFRS) since 2005. Before 2005, listed Dutch firms prepared their financial statements using Dutch law, Title 9 of book two of the Dutch Civil Code. It is interesting to investigate the effect of the implementation of IFRS. Is the quality of the financial statements improved by the implementation of IFRS for the users of the financial statements, such as investors, suppliers and banks? This question can be answered in many ways, looking at different characteristics of the accounting information, for example the comparability, the relevance, the reliability and the understandability. In this thesis the relevance will be studied. Information has the quality of relevance when it influences the economic decisions of users by helping them evaluate past, present or future events or conforming, or correcting, their past evaluations. (IFRS Handbook, 2007, p. 40) In order to be relevant the accounting information must reflect the information needs of the users in valuing a company. In order to determine the market price of a company, investors need accounting information that reflects the share price of a company. The research done studying the relevance of accounting information for valuating companies is called value-relevance research. The implementation of IFRS had consequences for the value-relevance of the accounting information. Whether the value-relevance had improved by the adoption of IFRS is dependent on the differences between the former accounting system and IFRS. The impact on value relevance in the Netherlands has not been studied yet. The impact on value-relevance in other countries has been studied however, for example in the United Kingdom (Harris and Muller, 1999), Germany (Hung and Subramanyam, 2007) and Spain Callao et al. (2007). These studies can give a powerful insight in how the difference in value-relevance of two accounting systems can be studied.
Author: Yusuf Nulla
Author: Yusuf Nulla
Author: Mohan R. Lavi
Author: Prasanna Kulkarni
Author: International Accounting Standards Board
Author: Sidney Leung
Author: Erick Outa
Author: 
Author: Mohammad Nurunnabi
Author: Luca Menicacci
Author: Alfred Mully