scholarly journals Effect of International Financial Reporting Standards Practices on Financial Performance among Small and Medium Enterprises in Homa-Bay Town, Kenya

2021 ◽  
Vol 9 (3) ◽  
Author(s):  
Albert Ogolla Otieno ◽  
Mark Ouche ◽  
Peterson Midida
Keyword(s):  
Financial Performance ◽  
Financial Reporting ◽  
Small And Medium Enterprises ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Financial Reporting Standards ◽  
Medium Enterprises

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.

International Financial Reporting Standards for Latin American Small and Medium Enterprises

2015 ◽  
pp. 252-274
Author(s):  
Myrna R. Berríos
Keyword(s):  
Latin America ◽  
Financial Reporting ◽  
Small And Medium Enterprises ◽  
International Financial Reporting Standards ◽  
Caribbean Region ◽  
Reporting Standards ◽  
Global Competitiveness ◽  
Financial Reporting Standards ◽  
Latin America And Caribbean ◽  
Medium Enterprises

The purpose of this chapter is to describe the process followed by Latin America to adopt International Financial Reporting Standards for Small and Medium Enterprises (IFRS for SMEs), based on examples about the approaches used by seven South American countries – Argentina, Brazil, Chile, Colombia, Peru, Uruguay, and Venezuela. These countries have followed different models of harmonization to IFRS for SMEs. Harmonization models may be grouped into five categories: maintenance of local financial reporting standards, adaptation of International Financial Reporting Standards (IFRS) to local standards, full or partial adoption of IFRS, adoption of another country's standards, and convergence to diminish differences between local standards and IFRS. Regardless of the chosen mode of harmonization, SMEs face particular challenges as major players in the Latin America and Caribbean region with needs to greater access to finance sources and simplification of laws and reporting standards to be able to achieve global competitiveness.

scholarly journals CORPORATE COMPLIANCE WITH INTERNATIONAL FINANCIAL REPORTING STANDARDS: A CASE STUDY OF SELECTED SMALL AND MEDIUM-SIZED ENTERPRISES (SMES) IN THE CAPE COAST METROPOLIS

2020 ◽  
Vol 6 (1) ◽  
pp. 1-12
Author(s):  
Marshall Wellington Blay ◽  
Charles Sam Cudjoe ◽  
Daniel Odei Okyere
Keyword(s):  
Financial Reporting ◽  
Small And Medium Enterprises ◽  
International Financial Reporting Standards ◽  
Small Scale ◽  
Reporting Standards ◽  
Cape Coast ◽  
Medium Scale ◽  
Financial Reporting Standards ◽  
Training Programmes ◽  
Medium Enterprises

The purpose of the study was to explore the extent to which Small and Medium Enterprises (SMEs) in the Cape Coast Metropolis (CCM) comply with International Financial Reporting Standards (IFRSs). The study further looked at firm attributes (size, profitability, audit type, internationality, type of SME, and leverage) that influence the level of SMEs’ compliance with IFRSs. The descriptive design was adopted for this study. The study sampled 89 SMEs within the metropolis, however, data from 67 medium scale enterprises were used. A self-constructed compliance index (CINDEX) checklist was the instrument used. Both descriptive and inferential statistics were used in analysing the data. The findings revealed that medium scale enterprises average level of compliance of IFRSs is 77.9%. Also, enterprise’s attributes such as types, profitability, and audit type are able to influence 70.6% of the variance in the level of enterprise’s compliance with IFRSs disclosure requirements. The study recommended that the National Board for Small Scale Industries (NBSSI) and the owner/managers of the various SMEs in the metropolis should liaise with Institute of chartered Accountant Ghana (ICAG) to organise regular training programmes, for accountants within the sector, intended to provide practical guide for compliance with the International Accounting Standard Board (IASB).

scholarly journals Effects of foreign ownership and International Financial Reporting Standards on debt maturity in Chilean firms

2019 ◽  
pp. 416-428
Author(s):  
Jorge A. Muñoz-Mendoza ◽  
Sandra M. Sepúlveda-Yelpo ◽  
Carmen L. Veloso-Ramos ◽  
Carlos L. Delgado-Fuentealba
Keyword(s):  
Financial Reporting ◽  
Small And Medium Enterprises ◽  
Foreign Ownership ◽  
Debt Maturity ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Agency Conflicts ◽  
Linear Effect ◽  
Financial Reporting Standards ◽  
Medium Enterprises

The objective of this article is to determine the effects of foreign ownership and International Financial Reporting Standards (IFRS) on debt maturity in Chilean companies. The study uses a fractional response model (FRM) on 20,586 companies. The results show foreign ownership has a negative and non-linear effect. Foreign ownership in Chilean firms is a substitute control means in relation to long-term debt. IFRS reduces maturity in large companies and extends them in small and medium enterprises (SMEs). These results suggest it is more important for large firms to control agency conflicts, while it is more important for SMEs to reduce information asymmetry.

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 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.

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