The IFRS Transition and Accounting Education: A Canadian Perspective Post-Transition

2012 ◽  
Vol 28 (2) ◽  
pp. 253-261 ◽  
Author(s):  
Sandy R. Hilton ◽  
Nathalie Johnstone
Keyword(s):  
Financial Reporting ◽  
Accounting Education ◽  
Accounting Students ◽  
Curriculum And Pedagogy ◽  
Financial Reporting Standards ◽  
Accounting Curriculum ◽  
Canadian Perspective ◽  
The Impact ◽  
Potential Content ◽  
Discussion Topic

ABSTRACTCanada transitioned to International Financial Reporting Standards (IFRS) in 2010–2011. In this commentary, we discuss the impact that the transition had from an accounting education perspective, particularly on undergraduate accounting programs. Our experience was that the transition was not a substantial hurdle but that it did provide opportunity for many formal and informal discussions of the accounting curriculum and pedagogy. Canada also introduced separate accounting standards for private enterprises at the same time as we transitioned to IFRS. Therefore, accounting educators were concerned with potential content overload and strategies for minimizing content overload. In this commentary we discuss both of those issues as well as a third common discussion topic in Canada during the transition—how to teach professional skills to accounting students. This commentary summarizes those three topics that were common in accounting education in Canada during the IFRS transition.

Factors influencing adoption of the international financial reporting standards (IFRS) in accounting education

2016 ◽  
Vol 9 (1) ◽  
pp. 2-16 ◽  
Author(s):  
Abdulaziz Alzeban
Keyword(s):  
Financial Reporting ◽  
Teaching Practice ◽  
Teaching Experience ◽  
Accounting Education ◽  
Reporting Standards ◽  
Content Type ◽  
Financial Reporting Standards ◽  
Departmental Support ◽  
Type Of Institution ◽  
The Impact

Purpose This paper aims to explore the challenges faced by accounting educators in their attempts to incorporate IFRS materials in their teaching and explores the impact of various factors (instructor’s attitude, size of accounting department, teaching load, type of institution, teaching experience and teaching materials) on the time spent on teaching IFRS materials in undergraduate accounting programmes. Design/methodology/approach A questionnaire survey was administered to faculty members working in Saudi Arabian universities, and interviews were held with a small number of such individuals in different universities in the Kingdom of Saudi Arabia. Findings The results indicate that the instructor’s attitude and availability of IFRS materials exert the most influence upon the time spent by teachers on the IFRS. They further find that departmental support, familiarity with IFRS, training and teaching experience in IFRS are positively associated with the time spent on teaching the IFRS. Originality/value The important implication is that accounting educators must adapt their teaching practice in light of the increasing adoption of the global financial reporting standards.

scholarly journals The Impact Of International Financial Reporting Standards On Accounting Curriculum In The United States

2011 ◽  
Vol 4 (1) ◽  
Author(s):  
JeRamMohan R. Yallapragadarry ◽  
Alfred G. Toma ◽  
C. William Roe
Keyword(s):  
United States ◽  
Financial Reporting ◽  
Business Schools ◽  
The United States ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Financial Reporting Standards ◽  
Accounting Curriculum ◽  
The Us ◽  
The Impact

According to the time line presently specified by the Securities and Exchange Commission (SEC), business firms in the United States (US) should switch from the existing US accounting reporting guidelines of the Generally Accepted Accounting Principles (GAAP) to International Financial Reporting Standards (IFRS) by the year 2014.  The US business school graduates and accounting professionals have less than four years to understand the differences between the two accounting systems, and to learn how to implement the new International Accounting Standards.  But many of the business schools in the US are not yet ready to include the new IFRS standards in their accounting curriculum. In many schools, administrators do not have any understanding of how to incorporate the new standards in their curriculum. Many European countries shifted to IFRS as early as 2005.  They are ahead of the US in teaching IFRS to their students. The main problems in incorporating IFRS in the curriculum include lack of good textbooks and providing training for professors to learn IFRS procedures so that they can teach them to their students. This paper makes an effort in presenting the historical background of IFRS, and the impact of the adapting of IFRS on US business schools.

The Impact of the Application of International Financial Reporting Standards in Increasing the Efficiency of the Iraqi Tax System

2021 ◽  
Vol 39 (11) ◽  
Author(s):  
Majid Gazi Hasan ◽  
Bahaa Al-Din Fareed Madhe ◽  
Mostafa ABD Alhussein Almansoori
Keyword(s):  
Financial Reporting ◽  
Vital Role ◽  
International Standards ◽  
Accounting Education ◽  
University Education ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Tax System ◽  
Financial Reporting Standards ◽  
The Impact

The research aims to study the impact of obstacles to the application of international financial reporting standards in Iraq and study the impact of the application of international financial reporting standards in raising the efficiency of the Iraqi tax system. The researchers used a questionnaire to test the research hypotheses and achieve its objectives. Where (75) questionnaire forms were distributed to a selected sample of professionals (auditors and employees of the Arab Finance Bureau), and academics (university professors), and (64) questionnaires were retrieved valid for analysis with a response rate of (85%). The data contained in the questionnaire were analyzed using the statistical program (SPSS). The study reached a set of conclusions, the most important of which is the weak economic infrastructure and the weak accounting education related to international financial reporting standards. Moreover, there is a vital role in applying international financial reporting standards in raising the efficiency of the tax system. While the most critical recommendations were that integration and coordination should be achieved between professional institutions and Iraqi universities to raise the level of university education related to international accounting standards and find training programs that contribute to raising the knowledge of accountants and auditors with international standards. The tax legislator and the tax authority should also rely on the data contained in the financial statements in determining taxable income.

Teaching IFRS in the U.K.: Contrasting Experiences from Both Sides of the University Divide

2012 ◽  
Vol 28 (2) ◽  
pp. 291-307 ◽  
Author(s):  
Gregory N. Stoner ◽  
Alan Sangster
Keyword(s):  
Financial Reporting ◽  
Teaching And Learning ◽  
Listed Companies ◽  
Accounting Education ◽  
Degree Programs ◽  
The European Union ◽  
Financial Reporting Standards ◽  
Teaching And Learning Environment ◽  
The University ◽  
The Impact

ABSTRACT: This paper discusses the impact of the increased importance of International GAAP (International Financial Reporting Standards [IFRS]) in the U.K. higher education teaching and learning environment. This change was caused by the increased harmonization of accounting standards during the first decade of the 21st century and, in particular, the adoption within the European Union (EU) of IFRS for fully listed companies in 2005 and other listed companies soon after. After outlining the nature and diversity of accounting education and its relationship to the U.K. accounting profession, we discuss the approaches taken in a range of U.K. accounting degree programs and how U.K. faculty and students adapted to the change from U.K. GAAP to IFRS. The U.K. university sector is divided into “old” universities—those formed before 1992, often referred to as the “research universities,” and the “new” universities—those founded in or after 1992, whose main focus is vocational, the “teaching universities.” We conclude that despite various troublesome adjustments in terminology, definitions, and layout, for different reasons the different groups of faculty have generally not had to undergo excessive adjustments in their teaching in order to embed IFRS into their courses. We conclude the paper by acknowledging the limitations of our research and with some indications of lessons for others who face the transition to IFRS in the future.

Challenges of International Financial Reporting Standards (IFRS) Adoption in Libya

2014 ◽  
Vol 1 (1) ◽  
pp. 390 ◽  
Author(s):  
Mohamed Abulgasem Zakari
Keyword(s):  
Developing Country ◽  
Financial Reporting ◽  
Accounting Education ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Economic Issues ◽  
Financial Reporting Standards ◽  
Ifrs Adoption ◽  
The Impact ◽  
Ifrs Implementation

This study investigates the challenges that face implementing of International Financial Reporting Standards (IFRS) by Libyan firms. In particular, this paper analyses the effect of legal, economic, accounting education and culture structures on adopting of IFRS in the Libyan context. A questionnaire was used to collect data regarding the effect of some selected challenges on IFRS adoption in Libya. The results of the study indicate that IFRS adoption by Libyan companies has faced some obstacles such as accounting education and economic issues. This research extends accounting literature by studying the challenges of IFRS in Libya (a developing country), focusing on the impact of legal, accounting education, economic and culture in IFRS implementation.

scholarly journals The Impact Of Accounting Scandals On Accounting Students

2011 ◽  
Vol 2 (6) ◽  
Author(s):  
Steven R. Jackson
Keyword(s):  
Student Perceptions ◽  
Financial Reporting ◽  
Accounting Students ◽  
Audit Process ◽  
The Public ◽  
Financial Reporting Standards ◽  
Accounting Scandals ◽  
Before And After ◽  
History Of ◽  
The Impact

<p class="MsoNormal" style="text-align: justify; margin: 0in 0.5in 0pt;"><span style="font-size: 10pt;"><span style="font-family: Times New Roman;">At no other time in the history of the accounting profession has there been such an impact to the financial reporting function within the capital market structure. The institutions responsible for the financial reporting function are reeling from the fallout of these financial-reporting scandals. &ldquo;Reports on the collapse of Enron, the bankruptcy of WorldCom, and a growing list of failures and near failures have exposed massive manipulations of financial reporting by management, inexplicable breakdowns in the independent audit process, astonishing revelations of holes in our financial-reporting standards and practices, and studding lapses of corporate governance&rdquo;. (Sutton, 2002). As Sutton also points out, in this environment, investors and the public have become increasingly skeptical about a system that seems to be out of control.<span style="mso-spacerun: yes;">&nbsp; </span>The impact on perceptions of the investing public must also include students studying business and more specifically students studying accounting. This study uses a questionnaire developed by Gramling, et.al. (1996) to study the perceptions of auditing students before and after the above mentioned financial-reporting scandals. Students in two auditing classes, one before the scandals and one after, were given the questionnaire at the beginning of their auditing course. The results show a significant change in student perceptions concerning audit expectation issues after the scandals, but before they studied auditing.<span style="mso-spacerun: yes;">&nbsp; </span></span></span></p>

IFRS IMPLEMENTATION AS ONE OF THE FACTORS FOR IMPROVING THE INVESTMENT CLIMATE IN UKRAINE

2017 ◽  
Author(s):  
Kateryna Sova ◽  
◽  
Natalia Yatsenko ◽  
Denys Zagirniak ◽  
◽  
...  
Keyword(s):  
Financial Reporting ◽  
Direct Investment ◽  
Financial Statements ◽  
International Standards ◽  
Investment Climate ◽  
The European Union ◽  
Economic Activities ◽  
Financial Reporting Standards ◽  
Almost All ◽  
The Impact

The article is devoted to the study of the impact of the introduction of International Financial Reporting Standards (IFRS) on changes in the investment climate in Ukraine. The relevance of the topic is that improving the practice of applying IFRS as a tool for exchanging financial information is one of the key conditions for improving the investment climate in Ukraine. The authors have created the generalized scheme that illustrates the chronological list of enterprises that are required by law to prepare financial statements in accordance with IFRS. It was noted that in 2018, in accordance with Part 2 of Article 12 of the law on accounting and financial reporting in Ukraine and resolution of the Cabinet of Ministers of Ukraine No. 547 from 11.07.2018, the criteria of enterprises that are required to prepare financial statements in accordance with IFRS were updated. This step significantly increased the level of application of international standards due to the adoption of such a decision at the legislative level. The dynamics of the number of IFRS enterprises in Ukraine was analyzed. The analysis showed that over the past three years, the number of almost all enterprises that must apply international standards has been growing. The advantages of using IFRS for different users of financial statements were determined. It was determined that the priority users of IFRS financial statements are investors. At the same time, it was noted that the main advantage for other users of financial statements prepared in accordance with international standards is the improvement of the investment climate. The dynamics of the Investment Attractiveness Index of Ukraine based on the Likert scale in the period from 2016 to 2020 was analyzed. The direct investment receipts to Ukraine from the European Union countries were studied. The dynamics of direct investment in the Ukrainian economy was analyzed for two types of economic activities that should form financial statements in accordance with IFRS, namely, the extractive industry and quarrying, as well as financial and insurance activities.

PENGARUH MOTIVASI, KREATIFITAS, DAN MENTALITAS TERHADAP PENDIDIKAN AKUNTANSI PADA PERGURUAN TINGGI SWASTA DI KOTA PADANG

2013 ◽  
Author(s):  
Lisa Fitriani Rahman
Keyword(s):  
Hypothesis Testing ◽  
Private Universities ◽  
Sampling Technique ◽  
Accounting Education ◽  
Accounting Students ◽  
Primary Data ◽  
Accounting Curriculum ◽  
Accounting Courses ◽  
Almost All ◽  
The City

Accounting education is taught in some private universities has impressed as stagnant knowledge, mechanical, and oriented material that causes a lot of students in general become saturated in the learning process. In Indonesia at several universities, almost all accounting courses little or no charge to enter the motivation, creativity, and mentality in the accounting curriculum-based motivation, creativity, and mentality can only he done well when formulated in a more complete firm of the curriculum. Therefore, this study examines the effect of motivation, creativity and mentality in accounting education to obtain empirical evidence. In this study using primary data obtained through questionnaires from a list of questions posed to accounting students in private universities in the city of Padang. The sample in this study was conducted with a purposive sampling technique where the sampling method was based on certain criteria, namely : involving student participants who majored in accounting class of 2010, 2011, and 2012 who had studied the sciences and overall accounting associated with accounting. Testing the hypothesis of this research is conducted with multiple regression analysis. The first hypothesis testing results found that motivation does not significantly influence accounting education in private universities Padang. The second hypothesis testing results found that creativity significantly influence accounting education in private universities Padang. The third hypothesis testing results found that significantly influence the mentality of accounting education in private universities Padang.

scholarly journals The impact of IFRS-based accounting standards on earnings management: evidence from Malaysia

2016 ◽  
Vol 5 (1) ◽  
pp. 1
Author(s):  
Yosra Makni Fourati ◽  
Rania Chakroun Ghorbel
Keyword(s):  
Earnings Management ◽  
Financial Reporting ◽  
Emerging Market ◽  
Accounting Standards ◽  
Absolute Value ◽  
Financial Reporting Standards ◽  
Ifrs Adoption ◽  
Earning Quality ◽  
The Impact ◽  
Different Levels

This study aims to examine the consequences of International Financial Reporting Standards (IFRS) convergence in an emerging market. More specifically, we investigate whether the adoption of the new set of accounting standards in Malaysia is associated with lower earnings management. Using a sample of 3,340 firm-year observations across three reporting periods with different levels of IFRS adoption, we provide evidence that IFRS convergence improves earning quality. In particular, we find a significant decrease in the absolute value of discretionary acccruals in the partial IFRS-convergence period (2007-2011), whereas this effect is restrictive after the complete IFRS- implementation.

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