scholarly journals The Effect Of Chief Executive Officers Turnover On International Financial Reporting Standards Reconciliation

2015 ◽  
Vol 31 (5) ◽  
pp. 1851
Author(s):  
Eun Sil Choi ◽  
Chang Seop Rhee
Keyword(s):  
Corporate Governance ◽  
Financial Reporting ◽  
Chief Executive Officers ◽  
Chief Executive ◽  
Ceo Turnover ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Financial Reporting Standards ◽  
Executive Officers ◽  
The Impact

We investigate the impact of Chief Executive Officer (CEO) changes on International Financial Reporting Standards (IFRS) reconciliation. Since January 1st, 2011 all Korean listed companies are required to adopt IFRS in their separate and consolidated accounts. To aid investors in evaluating corporate performance over time, the companies must restate the K-GAAP financial statements for 2010 under IFRS. We find that negative IFRS reconciliation is more frequent for firms with CEO turnover in 2011. The result suggests that new CEOs have an incentive to report lower earnings through IFRS reconciliation for the purpose of big bath. Additionally, in order to examine whether new CEOs incentive of the negative IFRS reconciliation is existed in different corporate governance levels, we classify the companies into strong and weak corporate governance. From the test, we find that their incentive of negative IFRS reconciliation is disappeared (existed) in the companies with strong (weak) corporate governance. This study will contribute to academics and disclosure-related practitioners by providing valuable information of the CEO incentive regarding IFRS reconciliation. We believe that our empirical evidence will be helpful to market participants when they make a business decisions in case of CEO turnover.

scholarly journals Impact of Accounting Software among SMEs Accountants in Oman

2020 ◽  
Vol 4 (2) ◽  
pp. 25-33 ◽  
Author(s):  
Mohammed Muneerali Thottoli
Keyword(s):  
Financial Reporting ◽  
Small And Medium Enterprises ◽  
Basic Knowledge ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Incorrect Choice ◽  
Financial Reporting Standards ◽  
Accounting Software ◽  
Medium Enterprises ◽  
The Impact

Financial losses, bankruptcy and closure of the company may be the result of incorrect choice of accounting software, inefficient modernization of such software depending on the specifics of the economic entity and ignorance of technical knowledge of staffs to work with the software product. The paper notes that for companies from member countries of the Gulf Cooperation Council, the technique of implementation and application of tax legislation and International Financial Reporting Standards (IFRS) differs significantly from other countries. The article emphasizes that in Oman, companies need to prepare financial statements in accordance with current applicable IFRS, as well as the Law on Commercial Companies 2019 and the guidelines and requirements for disclosure of capital market information. The purpose of this paper is to study and study the impact of the implementation of accounting software among small and medium enterprises (SMEs) in Oman. The study systematizes the features and issues of assessing the relationship between generalized accounting software (GAS) and its use by accountants working for SMEs. Twenty small and medium business accountants were selected as the target audience, taking into account their experience and basic knowledge of accounting in the context of ownership and use of GAS. The study confirms and theoretically proves that the use of GAS in the financial and economic activities of SMEs has a significant impact on the practice of accountants working in such enterprises, ie, there is a positive and significant relationship between GAS choice and use of GAS by SME accountants. The results of this study can be useful for the government, representatives of tax authorities, higher education institutions in the context of establishing adequate policies regarding the use of software for accounting by economic entities. Keywords: Generalized accounting software, accounting, accountant, small and medium enterprises, international financial reporting standards (IFRS), Oman.

scholarly journals Critical issues on the enforcement of the “true and fair view” accounting principle: Learning from Parmalat

2005 ◽  
Vol 2 (2) ◽  
pp. 108-119 ◽  
Author(s):  
Andrea Melis
Keyword(s):  
Corporate Governance ◽  
Financial Reporting ◽  
Supply And Demand ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Demand Side ◽  
Governance Mechanisms ◽  
Financial Reporting Standards ◽  
Information Demand ◽  
Corporate Governance Mechanisms

This paper analyses and discusses the “positive” issues of the overriding international financial reporting standards principle of “true and fair view” in connection with corporate governance mechanisms. The analysis is based on case study evidence. Empirical evidence from the Parmalat case with regards to the role of the information supply and demand side agents is analysed. This study provides evidence on how the relationship between corporate financial reporting and corporate governance mechanisms may influence the enforcement of the international financial reporting standards overriding principle of “true and fair view”. Evidence is found that the enforcement of the “true and fair view” principle is intrinsically flawed when the accountability and the overall corporate governance systems do not work properly. Some evidence is also found for the argument that a lack in the quality of information supplied by the corporate financial system hurdles the role information demand side agents as effective monitors.

scholarly journals The influence of culture on disclosures in financial statements prepared under International Financial Reporting Standards

2019 ◽  
Vol 2019 (101 (157)) ◽  
pp. 111-132 ◽  
Author(s):  
Jerzy Gierusz ◽  
Katarzyna Koleśnik
Keyword(s):  
Financial Reporting ◽  
Comparative Studies ◽  
Financial Statements ◽  
Arab Countries ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Consolidated Financial Statements ◽  
Financial Reporting Standards ◽  
Financial Disclosures ◽  
The Impact

The primary objective of this article is to investigate the impact of culture (as measured by Hofstede) on disclosures in financial statements prepared under International Financial Reporting Standards (IFRS) by firms from different countries. The sample comprises 2011−2013 consolidated financial statements of stock companies (excluding banks, insurance, and other financial institutions) from four countries repre- senting different cultural areas: the United Kingdom (Anglo), Germany (Germanic), Poland (Central Eastern Europe; CEE) and Kuwait (Arab). The research material came from 312 annual consolidated financial statements from 104 companies. The results reveal that cultural values have a significant impact on financial disclosures even after the use of IFRS. The paper is one of the few comparative studies attempting to assess the effects of culture on financial disclosures in Western Europe countries, CEE countries and Arab countries. Most of the international comparative studies in this research area have neglected CEE and Arab countries.

scholarly journals Post-Earnings Announcement Drift in Greece

2015 ◽  
Vol 18 (03) ◽  
pp. 1550019 ◽  
Author(s):  
William Forbes ◽  
George Giannopoulos
Keyword(s):  
Financial Reporting ◽  
Stock Prices ◽  
Stock Exchange ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Earnings Announcement ◽  
Financial Reporting Standards ◽  
Post Earnings Announcement Drift ◽  
Athens Stock Exchange ◽  
The Impact

This paper presents evidence regarding the post-earnings announcement drift (PEAD) anomaly for the Greek market in the years 2000–2006 (covering earnings announcements in the years 2001–2007). The impact of the introduction of International Financial Reporting Standards on the size and prevalence of the PEAD anomaly is examined. Unlike recent evidence for the US market we find PEAD to be alive and well, and of growing importance in our Greek sample. It may be the adoption of international financial reporting standards (IFRS) has served to reduce earnings predictability in Greece and thus enhance PEAD in the Athens stock exchange (ASE) market. This contrasts strongly with US evidence that the post-earnings-announcement drift anomaly is now waning as more efficient markets and smarter, fundamentals-based, traders arbitrage its impact on stock prices.

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