Research productivity of International Financial Reporting Standards (IFRS) from 2003 to 2020

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Bashir Tijjani ◽  
Shafiq Ur Rehman ◽  
Zachariah Peter ◽  
Ishtiaq Ahmad Bajwa ◽  
Muhammad Ajmal Khan
Keyword(s):  
Bibliometric Analysis ◽  
Financial Reporting ◽  
Research Productivity ◽  
Accounting Standards ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Content Type ◽  
Financial Reporting Standards ◽  
Publication Patterns ◽  
Scopus Database

Purpose This study aims to examine the quantitative research productivity of International Financial Reporting Standards (IFRS) globally by using the bibliometric approach. The method was applied to articles indexed in the Scopus database to analyze the publication patterns, trends and research productivity of the selected papers. Design/methodology/approach Bibliometric analysis is applied to analyze research productivity of IFRS from 2003 to 2020. The method was applied to articles indexed in the Scopus database to analyze the publication patterns and research productivity of the selected papers. Findings This study finds that a good number of articles have been published on IFRS, the top five countries are the USA, UK, Australia, Germany and Canada. This clearly shows that developed markets have the highest number of publications on IFRS. This could be as a result of the early adoption of IFRS by those economies and owing to the interest of researchers in those markets. Most of the studies are quantitative in nature; this study indicates that publication on accounting standards is popular as the number of citations is significant; most of the articles have two or more authors and were published in top-ranking journals. Practical implications This study provides up-to-date literature on the global research productivity of IFRS; as a result, it supports the development of policies by the users of this accounting standards. The findings of this study also serve as a reference point for firms and regulators around the world. Given the thoroughness of the methodology of this study, the results make it easier to effectively identify the direction of research on the implementation of IFRS in organizations. Originality/value This study provides a more comprehensive bibliometric analysis on the growth of IFRS literature (2003–2020) in the Scopus database; most of the prior studies have covered relatively few areas of focus as well as a fewer number of high impact factor journals. The relevance of this finding is in uncovering different areas of IFRS research productivity globally.

International financial reporting standards for small and medium-sized entities: a new institutional sociology perspective

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Nisansala Wijekoon ◽  
Grant Samkin ◽  
Umesh Sharma
Keyword(s):  
Sri Lanka ◽  
Financial Reporting ◽  
Accounting Standards ◽  
Financial Information ◽  
International Financial Reporting Standards ◽  
Sri Lankan ◽  
Institutional Pressures ◽  
Reporting Standards ◽  
Content Type ◽  
Financial Reporting Standards

Purpose This paper aims to extend the literature by examining the need for International Financial Reporting Standards (IFRS) for Sri Lankan small and medium entities (SMEs) and investigating the institutional pressures that drove the adoption of the IFRS for SMEs in a developing country, Sri Lanka. Design/methodology/approach The theoretical framework adopted in this study draws on insights from new institutional sociology theory. An interview-based qualitative research was conducted with accountants and owners of SMEs, representatives from government agencies and the accounting standards-setting authority of Sri Lanka. Findings The emphasis on the need for international accounting standards for SMEs due to international structures and activities is not a priority for Sri Lankan SMEs. Sri Lankan SME owners do not receive requests to provide internationally comparable financial statements from their trade partners and international activities such as foreign exports, borrowings and ownerships are irrelevant business activities for them. Hence, findings reveal that the decision to adopt the IFRS for SMEs was in response to institutional pressures rather than alleged benefits of internationally comparable financial information. It appears from the results that the influence of local users’ needs and the government interference on the development of accounting standards does not exist in Sri Lanka. Research limitations/implications The research is limited to a single country. The data were collected from SMEs in Sri Lanka, as intended by the research boundary.[AQ1] The study has implications for policy makers, and standard setters charged with developing and implementing an appropriate financial reporting framework for SMEs. Originality/value The extant literature on IFRS for SMEs is sparse and mostly conducted through questionnaire surveys with a single user group of SME financial information.

Research of Estimated Liabilities During the Audit of Accounting (Financial) Statements

Auditor ◽  
2021 ◽  
pp. 33-39
Author(s):  
N. Loseva
Keyword(s):  
Financial Reporting ◽  
Accounting Standards ◽  
Financial Statements ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Financial Reporting Standards

The article discusses the estimated liabilities, their study and assessment in accordance with the provisions of Russian accounting standards (RAS) and International Financial Reporting Standards (IFRS).

scholarly journals International Financial Reporting Standards and Orientation of Vietnam: “Roadmap & International Experience”

2018 ◽  
Vol 7 (4) ◽  
pp. 167
Author(s):  
Ha Thi Thuy Van ◽  
Vu Thi Kim Anh ◽  
Nguyen Dang Huy
Keyword(s):  
Financial Reporting ◽  
Accounting Standards ◽  
Asia Pacific ◽  
International Financial Reporting Standards ◽  
International Accounting ◽  
International Accounting Standards ◽  
Reporting Standards ◽  
Financial Reporting Standards ◽  
Advantages And Disadvantages ◽  
The World

Currently, the Ministry of Finance is implementing Decision 480/QD-TTG dated 03/18/2013 of The Prime Minister on approving the Strategy Accounting - Audit 2020, Vision 2030 and implementing the Resolution 35/NQ-CP of the Government dated 16.05.2016 related to the support and development of enterprises by 2020. Accordingly, the development and improvement the legal framework of Financial Reporting standards in Vietnam is one of the key tasks and urgent needs to be developed to meet the requirements of the economy in the period of integration. The system of International Accounting Standards, including the International Accounting Standards (IAS) and the standards of international financial reporting (IFRS) was issued, adjusted, updated and replaced by The International Accounting Standards Board. International Accounting Standards is an important condition to ensure that companies and organizations around the world can apply uniform accounting principles in the work of preparing and presenting financial statements. Currently, many countries around the world such as USA, Japan and European countries, Asia Pacific are approaching IFRS convergence trend. In the trend of globalization of accounting, Vietnam will not be outside the process of integration with the system of International Financial Reporting Standards. This article will review the process of formation and development of IFRS, the IFRS trends and the advantages and disadvantages of applying IFRS in Vietnam. 

scholarly journals Adopsi International Financial Reporting Standards (IFRS) di Negara-negara Muslim: Perspektif Institutional Theory

2019 ◽  
Vol 7 (1) ◽  
pp. 59-80
Author(s):  
Elsa Nuriyani ◽  
Sepky Mardian
Keyword(s):  
Saudi Arabia ◽  
Institutional Theory ◽  
United Arab Emirates ◽  
Financial Reporting ◽  
Accounting Standards ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Financial Reporting Standards ◽  
Muslim Countries ◽  
The World

The aim of this study is to discover the adoption of International Financial ReportingStandards convergence enforced in Muslim countries. The population of this study is27 Muslim states in the world, while the sample of this study are 7 Muslim States, i.e.;Saudi Arabia, Malaysia, Bangladesh, Egypt, Nigeria, United Arab Emirates, andIndonesia. The results of this study indicate that most of the Muslim countries in theworld have converged their accounting standards with IFRS for certain reasons thatarised from each country. Although there are some countries that do not carry out theconvergence throughly due to standard nonconformities with existing policies in thosecountries.

Implementation of Federal Accounting Standards – Capital Investments and Fixed Assets – in the internal rules of accounting for fixed assets

2021 ◽  
Vol 22 (10) ◽  
pp. 1188-1204
Author(s):  
Ol’ga M. KUPRYUSHINA ◽  
Rimma R. RAKHMATULINA
Keyword(s):  
Financial Reporting ◽  
Accounting Standards ◽  
Financial Accounting ◽  
International Financial Reporting Standards ◽  
Capital Investments ◽  
Reporting Standards ◽  
Financial Reporting Standards ◽  
Fixed Assets ◽  
Federal Standard ◽  
Commercial Organizations

Subject. This article discusses the issues related to the reflection of capital investments and fixed assets in the accounting (financial) statements of economic entities during the transition to the new domestic (Russian) accounting standards – Fixed Assets and Capital Investments. Objectives. The article aims to reveal the consequences of changes in the current practice of accounting for fixed assets and capital investments in the internal rules of commercial organizations. Methods. For the study, we used the methods of generalization, comparison, primary observation, cost measurement, and grouping. Federal Accounting Standards and International Financial Reporting Standards were the basis for methodological justification of changes in the accounting practice of transactions with fixed assets and capital investments. Results. We offer certain records to reflect information on capital investments in the transition to the new Federal Standard – Capital Investments in accounts. We also offer a procedure for classifying low-value fixed assets in the inter-reporting period and a correspondence of accounts reflecting impairment loss on fixed assets. Conclusions and Relevance. The procedure for convergence of domestic accounting standards with International Financial Reporting Standards necessitates the introduction of significant changes in the process of reflecting transactions with fixed assets and capital investments. The modified procedure for reflecting records for accounting for capital investments, low-value fixed assets, losses from impairment of fixed assets in the intra-company rules for accounting for economic entities becomes relevant. The results of the study can be used when accounting for transactions with fixed assets and capital investments of commercial organizations in the practice of financial accounting.

Accounting for leases – lessons from COVID-19

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Alan Teixeira
Keyword(s):  
Financial Reporting ◽  
Design Methodology ◽  
Accounting Standards ◽  
Financial Accounting ◽  
International Accounting Standards ◽  
Reporting Standards ◽  
Financial Accounting Standards Board ◽  
Content Type ◽  
Financial Reporting Standards ◽  
Setting Process

Purpose The International Accounting Standards Board (IASB) and Financial Accounting Standards Board (FASB) have given relief to lessees in response to the coronavirus (COVID-19) pandemic. However, it is not clear why any relief from the requirements in International Financial Reporting Standards (IFRS) or the Accounting Standards Codification (ASC) should be necessary. The purpose of this paper is to highlight weaknesses in how the IASB and FASB developed their leases Standards, and why those Standards are not robust enough to cope with a shock to the economic system. Design/methodology/approach The COVID-19 relief suspends some features of the leasing requirements rather than changing them. What if other economic or regulatory events cause the same circumstances to arise? Findings Have COVID-19 exposed weaknesses in the leasing standards that should have been avoided when they were developed or is COVID-19 the problem? Originality/value Analysis of actual board discussions and staff papers is unusual and provides insights into the standard-setting process.

Determinants of adoption of International Financial Reporting Standards in Ugandan micro finance institutions

2019 ◽  
Vol 10 (3) ◽  
pp. 336-355 ◽  
Author(s):  
Juma Bananuka ◽  
Zainabu Tumwebaze ◽  
Doreen Musimenta ◽  
Patience Nuwagaba
Keyword(s):  
Financial Reporting ◽  
African Country ◽  
Explanatory Power ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Microfinance Institutions ◽  
Cross Sectional ◽  
Content Type ◽  
Financial Reporting Standards ◽  
Correlational Data

Purpose The purpose of this paper is to report on the results of a study carried out to establish the contribution of board of directors’ effectiveness, intellectual capital (IC) and managerial attitude to the adoption of International Financial Reporting Standards (IFRSs) in microfinance institutions (MFIs). Design/methodology/approach This study is cross-sectional and correlational. Data were collected through a questionnaire survey of 67 MFIs that are members of the Association of Microfinance Institutions of Uganda. The data were analyzed using statistical package for social sciences. Findings Both board of director’s effectiveness and IC positively and significantly contribute to the adoption of IFRSs. Managerial attitude is positively and significantly associated with the adoption of IFRSs, but its explanatory power is subsumed in IC. Originality/value To the authors’ knowledge, this is the first study to investigate the contribution of board of director’s effectiveness, IC and managerial attitude to the adoption of IFRSs in MFIs using evidence from a developing African country like Uganda.

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