International Financial Reporting Standards (IFRS) Without an International Financial Reporting Language (IFRL): Evidence of Information Asymmetry in the EU

2013 ◽  
Author(s):  
Mark D. Crowley
Keyword(s):  
Information Asymmetry ◽  
Financial Reporting ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Financial Reporting Standards ◽  
The Eu

scholarly journals DO LITHUANIAN HIGHER EDUCATION ACCOUNTING PROGRAMS REFLECT ACCOUNTING HARMONIZATION IN THE EU?

2014 ◽  
Vol 2 ◽  
pp. 113-118
Author(s):  
Dalia Kaupelyte ◽  
Renata Legenzova
Keyword(s):  
Higher Education ◽  
Labor Market ◽  
Public Sector ◽  
Financial Reporting ◽  
Accounting Standards ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Financial Reporting Standards ◽  
Public Sector Accounting ◽  
The Eu

Financial accounting is undergoing major changes in the EU and worldwide.  Great efforts are placed on adoption of high quality accounting standards for listed companies, public sector organizations as well as small and medium business entities.  Being a member of the EU Lithuania is in compliance with the EU incentives in de jure accounting harmonization; however de facto situation in Lithuania is not adequately assessed.  One of accounting harmonization related questions is whether Lithuanian higher education provides labor market with market-needs oriented accounting professionals.The objective of this article is to assess if Lithuanian higher education programs in accounting field is in compliance with EU accounting harmonization outcomes.  We analyze if graduates of Accounting programs from Lithuanian Higher Education Institutions are trained to work with different sets of accounting standards—International Financial Reporting Standards (IFRS) and Public Sector Accounting Standards that were adopted in Lithuania as a part of accounting harmonization incentives.  To conduct an assessment of research methods by case analysis, comparative analysis has been deployed.  We assessed programs goals, learning outcomes and course curriculum of Professional Bachelor, Bachelor and Master level programs in Lithuanian universities and colleges.Results of the research revealed that de jure accounting harmonization is reflected in Lithuanian higher education Accounting programs.  Accounting for listed companies (required to use International Financial Reporting Standards) is given little importance in Lithuanian Accounting programs. According to the analysis of the learning outcomes, graduates of the Accounting programs in Lithuania have a broad profile, but would not be able to work independently with International Financial Reporting Standards.  On the other hand, even if regulation of public sector accounting was enforced later, it is included in number of analyzed programs.  A number of Professional Bachelor’s programs even offer specialization in this area.  Results of the research allow us to conclude that colleges have their niche in preparing accounting specialist for local labor market and their positioning is relatively strong, concerning public sector accounting.  Meanwhile first and second level universities’ programs could be strengthened toward international accounting to provide labor market with professionals in this area. 

scholarly journals The possible ways to IFRS (International Financial Reporting Standards) for SME (Small and Medium sized Entities) development

2007 ◽  
Vol 55 (6) ◽  
pp. 17-26 ◽  
Author(s):  
Hana Bohušová
Keyword(s):  
Financial Reporting ◽  
Accounting Standards ◽  
International Financial Reporting Standards ◽  
Significant Activity ◽  
Reporting Standards ◽  
Accounting Systems ◽  
Financial Reporting Standards ◽  
Business Entities ◽  
National Governments ◽  
The Eu

The most business entities in Europe are small or medium-sized enterprises (SME), which have a legal obligation to prepare financial statements in accordance with a set of accounting principles accepted in their country. Those statements are available to creditors, suppliers, and national governments but they could be badly understandable to creditors, suppliers and subjects in other countries. This is a great obstacle of their activities in the EU internal market. The existence of 27 different national accounting systems in the EU can be held for the most important obstacle.There are many ways how to develop compatible accounting standards for SMEs but the most significant activity in this field is the research project of IASB (International Accounting Standards Board). IASB has developed IFRS (International Financial Reporting Standards). Even though IFRS are suitable for all enterprises, their application in case of SMEs would be very expensive and could significantly increase compliance costs of taxation. This development has not been finished yet and there are still some problems which need to be solved before the introduction of accounting standards to the public. The research has shown that IFRS for SMEs should be used mainly by the entities which do not have public accountability – i.e. that its equities are not publicly traded and do not hold assets in a fiduciary capacity for a broad group of outsiders. This paper discusses those IFRS modifications, which should be done in case of SMEs.

Pengaruh Konvergensi International Financial Reporting Standards (Ifrs) Terhadap Penghindaran Pajak(Tax Avoidance)

2018 ◽  
Vol 26 (2) ◽  
pp. 158-169
Author(s):  
Umi Wahidah ◽  
Sri Ayem
Keyword(s):  
Financial Reporting ◽  
Tax Evasion ◽  
Stock Exchange ◽  
Control Variable ◽  
Tax Avoidance ◽  
Sampling Technique ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Control Variables ◽  
Financial Reporting Standards

This research aimed to examine the effect of the convergence of International Financial Reporting Standards (IFRS) on tax avoidance on companies listed in Indonesia Stock Exchange. Tax avoidance that used in this research was Cash Efective Tax Rate (CETR). This research is also use the control variable to get other different influence that different such as CSR, size, and earning management (EM. This research used populations sector of transport service companies that listed in Indonesia Stock Exchange. The data of this research taken from secondary data that was from the Indonesia Stock Exchange in the form of Indonesian Capital Market Directory (ICMD) and the annual report of the company 2011-2015. The method of collecting sample was purposive sampling technique, the population that to be sampling in this research was populations that has the criteria of a particular sample. Companies that has the criteria of the research sample as many as 78 companies. The method of analysis used in this research is multiple regression analysis. Based on regression testing shows that the convergence of International Financial Reporting Standards (IFRS) has a positiveand significant impact on tax evasion. This shows that IFRS convergence actually improves tax evasion practices. The control variables of firm size and earnings management also significantly influence the application of IFRS in improving tax avoidance practices, while CSR control variables have no role in convergence IFRS in improving tax evasion practice.

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