scholarly journals Unearthing the International Financial Reporting Standards (IFRS) in the Accounting Curriculum in Saudi Arabia - An Empirical Study

2021 ◽  
Vol 11 (2) ◽  
Author(s):  
Mohammed Alfify ◽  
Abdul Ghani Faiyyaz ◽  
Abdullah Malik
Keyword(s):  
Saudi Arabia ◽  
Financial Reporting ◽  
Accounting Standards ◽  
International Financial Reporting Standards ◽  
International Accounting Standards ◽  
Certified Public Accountants ◽  
Reporting Standards ◽  
Generally Accepted Accounting Principles ◽  
Financial Reporting Standards ◽  
Public Accountants

International Financial Reporting Standards, commonly known as IFRSs, are uniform accounting standards issued by the International Accounting Standards Board (IASB) in 2001. The Saudi Organization for Certified Public Accountants (SOCPA) from 1st Jan 2016 has announced its decision to converge their National Accounting Standard with IFRS. The standards will surely be going to influence the financial system of the country. Every country has its own Generally Accepted Accounting Principles (GAAP). However, an understanding is needed to evaluate the adoption and awareness of IFRS among students and academicians in Saudi Arabia. The present study attempted to examine the awareness and interest of students concerning IFRS. This study has brought some hard facts regarding IFRS convergence in Saudi Arabia. The IFRS will only be able to yield fruitful results when all stakeholders are fully aware, interested, taken into confidence, and ready to cooperate with the directives of the Saudi Organization for Certified Public Accountants (SOCPA) for IFRS adaption.

scholarly journals De toekomst van IFRS in Europa: gaat de bom vallen?

2015 ◽  
Vol 89 (4) ◽  
pp. 120-121
Author(s):  
Ralph ter Hoeven
Keyword(s):  
Financial Reporting ◽  
Accounting Standards ◽  
International Financial Reporting Standards ◽  
International Accounting ◽  
International Accounting Standards ◽  
Reporting Standards ◽  
Generally Accepted Accounting Principles ◽  
Financial Reporting Standards ◽  
Accounting Principles ◽  
Jaar Geleden

Het is inmiddels 20 jaar geleden dat de Europese Unie een beslissende keuze maakte in het ontwikkelen van een eigen GAAP (Generally Accepted Accounting Principles; dus stelsel van accountingregels). De keuze luidde: no, non, nein, não, nej, nee: er zou geen eigen EUGAAP worden ontwikkeld. Wel werd er voorzichtig gewezen op de toenmalige International Accounting Standards (IAS); inmiddels omgedoopt tot International Financial Reporting Standards (IFRS). Kortom Lidstaten werden vrijgelaten in de keuze van een GAAP voor beursgenoteerde ondernemingen en een beetje aangemoedigd om daarbij aan IAS te denken. Vijf jaar later, rond de millenniumwisseling dus, volgde er een update van de Europese accountingstrategie waarin niet geheel verrassend werd geconstateerd dat jaarrekeningen op de EU-kapitaalmarkt niet vergelijkbaar waren.

scholarly journals Why The SEC Is Delaying Adoption Of International Financial Reporting Standards

2013 ◽  
Vol 12 (2) ◽  
pp. 223 ◽  
Author(s):  
Clemense Ehoff Jr. ◽  
Dov Fischer
Keyword(s):  
Financial Reporting ◽  
Accounting Standards ◽  
Financial Accounting ◽  
International Financial Reporting Standards ◽  
International Accounting Standards ◽  
Reporting Standards ◽  
Financial Accounting Standards Board ◽  
Public Companies ◽  
Generally Accepted Accounting Principles ◽  
Financial Reporting Standards

In 2002, the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) formally began a process to converge Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS). The SEC has repeatedly delayed its decision on whether to adopt International Financial Reporting Standards as the financial reporting system for U.S. public companies, continue with the convergence project, or reject IFRS altogether. This paper will examine several key reports issued by the SEC and the Financial Accounting Foundation to gain further insight into 1) why the SEC has repeatedly delayed its decision, and 2) what the SEC will ultimately decide.

scholarly journals International Financial Reporting Standards and Orientation of Vietnam: “Roadmap & International Experience”

2018 ◽  
Vol 7 (4) ◽  
pp. 167
Author(s):  
Ha Thi Thuy Van ◽  
Vu Thi Kim Anh ◽  
Nguyen Dang Huy
Keyword(s):  
Financial Reporting ◽  
Accounting Standards ◽  
Asia Pacific ◽  
International Financial Reporting Standards ◽  
International Accounting ◽  
International Accounting Standards ◽  
Reporting Standards ◽  
Financial Reporting Standards ◽  
Advantages And Disadvantages ◽  
The World

Currently, the Ministry of Finance is implementing Decision 480/QD-TTG dated 03/18/2013 of The Prime Minister on approving the Strategy Accounting - Audit 2020, Vision 2030 and implementing the Resolution 35/NQ-CP of the Government dated 16.05.2016 related to the support and development of enterprises by 2020. Accordingly, the development and improvement the legal framework of Financial Reporting standards in Vietnam is one of the key tasks and urgent needs to be developed to meet the requirements of the economy in the period of integration. The system of International Accounting Standards, including the International Accounting Standards (IAS) and the standards of international financial reporting (IFRS) was issued, adjusted, updated and replaced by The International Accounting Standards Board. International Accounting Standards is an important condition to ensure that companies and organizations around the world can apply uniform accounting principles in the work of preparing and presenting financial statements. Currently, many countries around the world such as USA, Japan and European countries, Asia Pacific are approaching IFRS convergence trend. In the trend of globalization of accounting, Vietnam will not be outside the process of integration with the system of International Financial Reporting Standards. This article will review the process of formation and development of IFRS, the IFRS trends and the advantages and disadvantages of applying IFRS in Vietnam. 

scholarly journals Adopsi International Financial Reporting Standards (IFRS) di Negara-negara Muslim: Perspektif Institutional Theory

2019 ◽  
Vol 7 (1) ◽  
pp. 59-80
Author(s):  
Elsa Nuriyani ◽  
Sepky Mardian
Keyword(s):  
Saudi Arabia ◽  
Institutional Theory ◽  
United Arab Emirates ◽  
Financial Reporting ◽  
Accounting Standards ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Financial Reporting Standards ◽  
Muslim Countries ◽  
The World

The aim of this study is to discover the adoption of International Financial ReportingStandards convergence enforced in Muslim countries. The population of this study is27 Muslim states in the world, while the sample of this study are 7 Muslim States, i.e.;Saudi Arabia, Malaysia, Bangladesh, Egypt, Nigeria, United Arab Emirates, andIndonesia. The results of this study indicate that most of the Muslim countries in theworld have converged their accounting standards with IFRS for certain reasons thatarised from each country. Although there are some countries that do not carry out theconvergence throughly due to standard nonconformities with existing policies in thosecountries.

scholarly journals DEVELOPMENT OF INTERNATIONAL FINANCIAL FISCAL STANDARDS IN ACCORDANCE WITH THE ROLE OF IASB

2019 ◽  
Vol 3 (2) ◽  
Author(s):  
‏​‏​‏​​‏​‏​​‏​‏​‏​‏​‏​‏ Ali Murtadha Shaheen
Keyword(s):  
Financial Reporting ◽  
Accounting Standards ◽  
International Financial Reporting Standards ◽  
International Accounting ◽  
International Accounting Standards ◽  
Reporting Standards ◽  
Financial Reporting Standards ◽  
Trading Volumes ◽  
International Accounting Standards Board

The objective of the research is to demonstrate the role of International Accounting Standards Board in the development of International Financial Reporting Standards to support the efficiency of international capital markets from 1973 to 2011, and then to measure the impact of the application of IFRS in accordance with the role of the International Accounting Standards Board. There have been differences in the market, volumes of the first and second markets and in the share price index, refer to market value, trading volumes yet trading volumes appropriate according to the software over International Financial Reporting Standards between the training on monetary statements of agreement stock companies.  

scholarly journals A opinião do normatizador importa?: análise do impacto da divulgação da carta do IASB nos retornos das ações dos bancos europeus com exposição em títulos gregos

2014 ◽  
Vol 25 (64) ◽  
pp. 79-91
Author(s):  
Cristina Zardo Calvi ◽  
Fernando Caio Galdi
Keyword(s):  
Financial Reporting ◽  
Accounting Standards ◽  
International Financial Reporting Standards ◽  
International Accounting ◽  
International Accounting Standards ◽  
Reporting Standards ◽  
Financial Reporting Standards ◽  
Pooled Data ◽  
International Accounting Standards Board

Este estudo investiga se há evidências de que a carta emitida e divulgada ao mercado pelo normatizador contábil internacional, o International Accounting Standards Board (IASB), alertando sobre a inadequação da contabilização dos títulos de dívida soberanos de alto risco, apresentou conteúdo informacional e causou alterações nos preços das ações de bancos da Alemanha, Espanha, França, Itália e do Reino Unido, que possuíam títulos gregos em suas carteiras. Esta análise revela-se importante, pois esta foi a primeira vez que o IASB se posicionou sobre a adequação das demonstrações financeiras publicadas às normas internacionais de contabilidade (International Financial Reporting Standards - IFRS). Para a implementação da análise foi identificada como data do evento o dia da divulgação pública da carta pela mídia especializada. Apesar de a carta ter sido publicada em 30 de agosto, ela é datada de 04 de agosto de 2011 e, segundo o IASB, só veio a ser divulgada neste dia, pois, no dia anterior (29 de agosto de 2011), o Financial Times havia noticiado reportagens sobre as preocupações do IASB acerca das inadequações contábeis que estavam ocorrendo no mercado. Para avaliar o impacto do evento foi utilizada a medida de Retorno Ajustado pelo Mercado e, através de uma abordagem de diferença em diferença, foi possível testar o efeito da interação entre o tempo após a data do evento e o grupo de tratamento (bancos que possuíam títulos do governo grego). Para esse teste foi realizada uma regressão para cada janela de evento, sendo aplicado o método dos Mínimos Quadrados Ordinários (MQO) com dados agrupados (pooled data). Os resultados mostraram que há evidências de que a opinião do normatizador é relevante, ou seja, que a carta do IASB impactou o retorno das ações dos bancos que possuíam títulos do governo grego no período analisado.

scholarly journals Should The SEC Adopt International Financial Reporting Standards?

2011 ◽  
Vol 16 (1) ◽  
pp. 15-20
Author(s):  
Clemense Ehoff Jr. ◽  
Dov Fischer
Keyword(s):  
Financial Reporting ◽  
Accounting Standards ◽  
Financial Accounting ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Financial Accounting Standards Board ◽  
Best Interest ◽  
Public Companies ◽  
Generally Accepted Accounting Principles ◽  
Financial Reporting Standards

In 2002, the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) formally began a process to converge Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS). By the end of 2011, the SEC will likely decide on whether to adopt International Financial Reporting Standards as the financial reporting system for U.S. public companies, continue with the convergence project, or reject IFRS altogether. This paper examines the benefits and drawbacks of each option and formulates a recommendation as to which option is in the best interest of U.S. investors.

scholarly journals Continued Impact of International Financial Reporting Standards on U.S. Generally Accepted Accounting Principles

2020 ◽  
pp. 1-12
Author(s):  
Sylwia Gornik-Tomaszewski ◽  
Victoria Shoaf
Keyword(s):  
Financial Reporting ◽  
Accounting Standards ◽  
Fair Value ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Generally Accepted Accounting Principles ◽  
Financial Reporting Standards ◽  
Accounting Principles ◽  
Value Measurement ◽  
The Impact

The milestone outcomes of over a decade of close cooperation between the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) on the convergence of U.S. Generally Accepted Accounting Principles (U.S. GAAP) and International Financial Reporting Standards (IFRS) have been highly publicized in the professional media. Great attention has been paid to such joint FASB and IASB projects as accounting for business combinations, fair value measurement, and revenue recognition. The impact of U.S. GAAP on IFRS has also been discussed and highlighted in many professional and academic resources. It should come as no surprise since FASB is considered a world leader in creating high-quality standards through an exemplary standard-setting process. In this paper, we look at the least noticed outcome of the convergence process: the impact of IFRS on U.S. GAAP. We reviewed all of the Accounting Standards Updates (ASUs) to the FASB Accounting Standards Codification®, from the first issued in June 2009 to 2016, and listed instances where U.S. GAAP was significantly modified to reflect international solutions. These examples of U.S. GAAP modifications indicate that the impact of IFRS on U.S. GAAP continued well after the bilateral cooperation between FASB and IASB effectively ended in 2014. Furthermore, look at the most recent FASB pronouncement let us conclude that the FASB continues to be engaged in seeking comparable global accounting solutions.

scholarly journals Alteração na Contabilização de Operações e Arrendamento Mercantil: Evidenciação do Impacto Previsto pelas Companhias dos Segmentos de Transportes da B3

2020 ◽  
Vol 12 (1) ◽  
Author(s):  
Marcelo Vitor Seidler ◽  
Ernando Fagundes
Keyword(s):  
Financial Reporting ◽  
Accounting Standards ◽  
International Financial Reporting Standards ◽  
International Accounting ◽  
International Accounting Standards ◽  
Reporting Standards ◽  
Financial Reporting Standards ◽  
International Accounting Standards Board

Em 2016, o International Accounting Standards Board (IASB) emitiu a norma International Financial Reporting Standards 16 (IFRS 16) substituindo a International Accounting Standards 17 (IAS 17), a qual estabelece os princípios para reconhecimento, mensuração, apresentação e divulgação das operações de arrendamento mercantil (Associação Brasileira das Empresas de Leasing - ABEL, 2019). No Brasil, o Comitê de Pronunciamento Contábeis alterou o Pronunciamento Contábil 06 (CPC 06), anteriormente correlato à IAS17, passando a ser correlato à IFRS 16. Segundo o Instituto dos Auditores Independes do Brasil (IBRACON), 74% das companhias do índice IBrX-100 terão impactos relevantes em seus balanços após a adequação aos novos métodos de registro de arredamentos mercantil (Gutierrez, 2019). Nesse contexto, esta pesquisa teve como objetivo verificar como as companhias dos segmentos de transportes da Brasil, Bolsa e Balcão (B3) evidenciaram os possíveis impactos previstos a partir da contabilização do arrendamento mercantil de acordo com o CPC 06. Foram então analisadas as 12 companhias listadas nos segmentos de transportes da B3. Foram consultados as notas explicativas e os pareceres de auditoria independente dessas companhias do ano de 2018. Verificou-se que todas as 12 companhias analisadas informaram em suas notas explicativas estarem cientes da obrigatoriedade da adoção das alterações do Comitê de Pronunciamentos Contábeis CPC 06 a partir de 1º de janeiro de 2019. No entanto, das companhias pesquisadas, duas não informaram os impactos previsto a partir da adoção do CPC 06 correlato à IFRS 16. Ressalta-se que a evidenciação dos impactos previstos é relevante para os investidores avaliarem a situação econômico financeira das companhias.

scholarly journals De invloed van cultuur op de acceptatie van IFRS for SMEs

2011 ◽  
Vol 85 (4) ◽  
pp. 198-206
Author(s):  
B. Kamp
Keyword(s):  
Financial Reporting ◽  
Accounting Standards ◽  
International Financial Reporting Standards ◽  
International Accounting ◽  
International Accounting Standards ◽  
Reporting Standards ◽  
Financial Reporting Standards ◽  
International Accounting Standards Board

Na publicatie van de IFRS for SMEs (International Financial Reporting Standards for Small and Medium-sized Entities) door de International Accounting Standards Board (IASB) vroeg de Europese Commissie (EC) zich af of IFRS for SMEs moet worden toegestaan binnen de lidstaten. Op een consultatie ontving de EC reacties die zeer divers waren: van sterke voorstanders tot sterke tegenstanders. In dit artikel wordt onderzocht of er bepaalde patronen zijn te herkennen in deze voors en tegens. Daarbij wordt vooral gekeken naar verschillen in ‘accountingcultuur’ in de diverse regio’s binnen Europa. De uitkomsten duiden er op dat met name het verschil in nadruk op ‘principles versus rules’ en het belang van conservatieve winstbepaling de meningen verdelen. Omdat deze aspecten cultuurgebonden zijn, zal het niet eenvoudig zijn om IFRS for SMEs algemeen geaccepteerd te krijgen.

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