scholarly journals The Importance of Moving to International Financial Reporting Standards for Indonesian Companies

2011 ◽  
Vol 9 (1) ◽  
Author(s):  
Andian Ari Istiningrum
Keyword(s):  
Financial Performance ◽  
Financial Reporting ◽  
Cash Flows ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Financial Reporting Standards ◽  
Financial Position ◽  
First Time ◽  
Us Gaap

The aim of this study is to determine basic differences between US GAAP and IFRSand provides some solutions to overcome problems that arise due to those differences.Literature review is used in this study to obtain the data about the effects of moving to IFRSin other countries. The results that are achieved in this study are: (i) transition to IFRS willchange financial position, financial performance, and cash flows of companies, (ii) benefitsthat companies take from transition to IFRS outweigh all costs that incur in the conversion,and (iii) IFRS 1 provides important guidance for a first time adopter.

scholarly journals Nível de convergência dos princípios contábeis brasileiros e norte-americanos às normas do IASB: uma contribuição para a adoção das IFRS por empresas brasileiras

2011 ◽  
Vol 22 (56) ◽  
pp. 155-173 ◽  
Author(s):  
Valdiney Alves Oliveira ◽  
Sirlei Lemes
Keyword(s):  
Financial Reporting ◽  
Sao Paulo ◽  
International Financial Reporting Standards ◽  
São Paulo ◽  
Reporting Standards ◽  
Financial Reporting Standards ◽  
Big Four ◽  
Us Gaap

A presente pesquisa teve como objetivo avaliar em que nível as informações contábeis divulgadas nos mercados: brasileiro e norte-americano atendem aos requisitos da adoção inicial das IFRS - International Financial Reporting Standards. A adoção das IFRS por companhias abertas brasileiras nas suas demonstrações contábeis consolidadas foi exigida pela Comissão de Valores Mobiliários (CVM) na Instrução CVM 457/07. Por meio de uma pesquisa descritiva quanto aos seus objetivos e utilizando-se dos procedimentos técnicos de pesquisa documental e de análise de conteúdo clássica, foram analisadas as demonstrações contábeis elaboradas para o ano de 2008 de acordo com os US GAAPs e os BR GAAPs de 20 empresas brasileiras listadas simultaneamente na Bolsa de Valores de Nova York (NYSE) e na Bolsa de Valores de São Paulo (BOVESPA) e calculou-se o índice de disclosure proposto na pesquisa de Lopes e Rodrigues (2007). A pesquisa apontou para índices de disclosure calculados para o Form 20F maiores do que aqueles calculados para as Demonstrações Financeiras Padrão (DFP), confirmando um nível de convergência maior entre US GAAP e IFRS e sugerindo que, em função da adoção das IFRS as demonstrações contábeis em BR GAAP tendem a se modificar substancialmente aumentando o nível de divulgação. Além disso, os resultados confirmam para a amostra, o exposto na literatura selecionada de que o setor de atuação e o tamanho da empresa influem diretamente no disclosure das informações. Em relação aos auditores, o fato de as demonstrações serem auditadas pelas empresas globais de auditoria conhecidas como Big Four não foi determinante na extensão do disclosure.

scholarly journals Does Adoption of International Financial Reporting Standards (IFRS) Affect Financial Performance? Evidence from Nigerian Deposit Money Banks

2018 ◽  
Vol 8 (3) ◽  
pp. 51
Author(s):  
Meshack Aggreh ◽  
Charles A. Malgwi ◽  
Amanda E. Enyi-Igbokwe ◽  
Mercy S. Aggreh
Keyword(s):  
Financial Performance ◽  
Financial Reporting ◽  
Business Processes ◽  
Stock Exchange ◽  
International Financial Reporting Standards ◽  
Rank Test ◽  
Reporting Standards ◽  
Financial Reporting Standards ◽  
Ifrs Adoption ◽  
The Government

This paper examines the effect of International Financial Reporting Standards (IFRS) adoption on financial performance of eleven (11) deposit money banks listed on the Nigerian Stock Exchange (NSE) as at December 31, 2014. The Wilcoxon Signed-Rank test was used to test whether significant differences exist in the profitability, liquidity and leverage ratios of the selected banks using IFRS and Nigerian Statement of Accounting Standards (SAS) based financial statements. The results show that adoption of IFRS does significantly affect financial performance of Nigerian deposit money banks. Specifically, IFRS adoption significantly and positively affects profitability of Nigerian deposit money banks, while it significantly, but negatively affects their liquidity and financial leverage. The study recommends continuous enlightenment campaigns on the potential effects of IFRS implementation by the regulatory authorities, professional bodies and the government as more and more firms in Nigeria change from SAS based financial reporting to IFRS. Furthermore, firms should endeavour to use the opportunity presented by the IFRS to improve their business processes in all ramifications so as to promote uniformity and transparency.

scholarly journals First time adoption of IFRS 15 “Revenue from contracts with customers“: the case of Lithuanian listed companies

2020 ◽  
Vol 21 ◽  
pp. 2
Author(s):  
Darius Vaicekauskas
Keyword(s):  
Financial Reporting ◽  
Financial Statements ◽  
Listed Companies ◽  
Economic Benefits ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Revenue Recognition ◽  
Financial Reporting Standards ◽  
The Impact ◽  
First Time

 Revenue accounting is one of the most important areas of financial accounting. Revenue is one of the key absolute financial ratios that reflects the economic benefits generated by entities that result in increased shareholders‘ equity. This article investigates the first time adoption of new IFRS 15 “Revenue from contracts with customers“ which in International financial reporting standards (hereinafter – IFRS) system is mandatory to apply starting from 1 January 2018. The new IFRS 15 supersedes the previous international accounting standards regulating revenue recognition and introduces a conceptual 5-step revenue recognition model. The purpose of this article is to evaluate the impact of the first-time adoption of IFRS 15 “Revenue from contracts with customers“ on the financial statements of Lithuanian listed companies. This purpose is achieved while using the following research methods: analysis of International financial reporting standards (IFRS) and scientific literature, as well as analysis of the content of financial statements. An empirical study revealed that the first-time adoption of IFRS 15 had no material impact on the financial statements of Lithuanian listed companies. Most of the companies surveyed applied the standard using a simplified retrospective modified method and did not pay much attention to the disclosure of first-time adoption. For those affected by the standard, the effect was mostly notable in the following areas: reclassifications of commissions and brokerage fees, changes in revenue recognition principles from the revenue recognition over a time to revenue recognition at specific point in time and vice versa.

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