Download or read book Adoption of International Financial Reporting Standards at Ethio Telecom Challenges and Prospects written by Tofick Shikuri and published by . This book was released on 2019-12-18 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Challenges and Prospects of IFRS Adoption in Ethiopian Commercial Banks written by Marenesh Abebe and published by GRIN Verlag. This book was released on 2018-03-02 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt: Thesis (M.A.) from the year 2018 in the subject Business economics - Accounting and Taxes, grade: 2, Addis Ababa University, course: MBA in Finance, language: English, abstract: The study aims to examine the challenges and prospects of International Financial Reporting Standards (IFRS) adoption in Ethiopian Commercial Banks. To answer the research question and to achieve the objective of the study this paper adopted the mixed research approach. The questionnaire data were analyzed using descriptive statistics and data from interview and document review were interpreted qualitatively. The results show that IFRS adoption in Ethiopian Commercial Banks will result in a number of important benefits to a wide range of stakeholders. The study also found out that with the exception of capital market the other five variables namely need of amending legal and regulatory requirement , volatility of financial position and financial performance , difficulty of obtaining source documents and data ,need of updating the existing accounting software, information system and information technology of the bank, shortage of skilled and competent man power , shortage of strong professional bodies are the key challenges of IFRS adoption in Ethiopian Commercial Banks. Finally the study recommended the relevant commercial code, tax proclamation and NBE directive should be amended by Government organs in consultation with strong professional bodies , establishment of strong professional bodies and capital market, allocation of sufficient financial and other resources by top management , introduction of IFRS in colleges and universities and future adopters should think ahead the required source documents and data as well as ensure the extent of changes needed to update the existing IT infrastructure to satisfy IFRS requirements.

Download or read book Challenges of International Financial Reporting Standards IFRS Adoption in Libya written by Mohamed Zakari and published by . This book was released on 2014 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book Navigating the Technological Tide The Evolution and Challenges of Business Model Innovation written by Bahaaeddin Alareeni and published by Springer Nature. This book was released on with total page 564 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Adoption of International Financial Reporting Standard in Nigeria for Sustainable National Development written by Abdulsalam Mas'ud and published by . This book was released on 2013 with total page 1 pages. Available in PDF, EPUB and Kindle. Book excerpt: The rapidity in global adoption of International Financial Reporting Standard (IFRS) by more than 120 countries as at September 2011 indicates that harmonization and uniformity in financial reporting throughout the world is attainable. However, despite the opportunities that can be exploited through IFRS adoption some countries encountered some setbacks in the adoption process. Among the problems being encountered are filing a legal action against the standard's adoption, cost implication and low level of preparedness by both governments and standard implementers. For the fact that IFRS adoption is important ingredient to sustainable national development in Nigeria, this paper conducts a SWOT analysis to the impending IFRS adoption in Nigeria. On the strength side Nigeria possesses all the elements needed for IFRS adoption. However, on the weakness side, it was found that there are some flaws in these elements. It was also found that despite the opportunities such as; increased flow of Foreign Direct Investment (FDI), accessing capital by Nigerian companies from abroad and International rating, the country need to be aware of threats such as the level of preparedness, transition cost and the complexity of IFRS. Based on the SWOT analysis conducted, appropriate recommendations were made.

Download or read book Application of IFRS in Indian Telecom Industry written by Prasanna Kulkarni and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The basic objective of any business enterprises is to maximise the profits and create value for the shareholders. In meeting these objectives the management of the enterprise takes various decisions such as investing, financial and operational. The financial effect of these decisions is reflected in the financial statements prepared by the management. The financial statements consist of Profit & Loss Account, Balance Sheet and a cash flow statement.There are a few inherent limitations of the financial statements. The financial statements are prepared on the basis of concepts, conventions, and assumptions and what is more important is - personal judgement. There are different accounting policies and practices in relation to various financial items appearing in the financial statements. Such different accounting policies, even though principally correct may lead to differing profitability and financial positions. To make them comparable, its important to have them on a common platform for which, the Accounting Standards were introduced. There are 32 accounting standards as of today which govern accounting policies to be adopted by these enterprises. The Accounting standards are now replaced by International Financial Reporting Standards. The first time adoption and convergence are main issues related to adoption of IFRS.The applicability of IFRS to telecom industry needs special attention. There are a few unique issues related to application of IFRS to telecom industry. The issues involved consists of adoption of IFRS for the first time, presentation of financial statements, revenue recognition, intangible assets, impairment of non-financial assets, provisions and contingencies etc. The article attempts to review the application of IFRS to telecom industry and issues related thereto.

Download or read book The Imperative of Adopting the International Financial Reporting Standards IFRS in the 21st Century written by Solomon Abuba and published by . This book was released on 2016 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt: The globalization of economic systems as part of the move towards turning the world to a global village has not left the financial reporting and the accounting system and has propelled the introduction of International Financial Reporting Standard (IFRS). The International Standards of Accounting and Reporting (ISAR) as a professional body set to oversee the implementation and maintenance of IFRS discovered through case studies that the implementation of IFRS in countries with different economic culture have introduced different versions of the IFRS. In line with this, this paper is a critical insight on the adoption of IFRS in Nigeria, looking at its history, benefits, challenges and lessons which will help countries that are yet to adopt IFRS in charting their course; the paper discovered that Nigeria have experienced the benefits of IFRS mostly in its international transaction as a developing nation; that Nigeria is using the gradual convergence method; that some of the local GAAP is conflicting with the IFRS when it gets to local circumstances because some of those domestic financial reporting policies have not been amended to accommodate IFRS; these challenges were surmised under: Existing Laws and Regulations, Costs of Implementation, Technology and Technical Capacity, Level of Awareness, Level of Education and Enforcement. The position of this paper is that the urgency in the adoption of is a positive move towards Nigeria's economic development with better adoption options as a way forward.

Download or read book National Adoption of International Financial Reporting Standards The Case of China written by Maria Ming Bengtsson and published by . This book was released on 2021 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: In the past few decades, there has been a global trend of international harmonization of accounting standards, with many countries having either partially or completely replaced their national accounting standards with the International Financial Reporting Standards (IFRS). The intended goal is to remove the barriers that hinder investors when comparing accounting information of companies from different nations, while simultaneously reducing the transaction costs for firms. However, research has shown that countries adopt IFRS unequally, ranging from resistance, partial adoption to full adoption. If the IFRS are not adopted to the same extent around the world, the central purpose of international standards can be compromised, as foreign investors cannot be confident when comparing financial statements. Uneven IFRS adoption could even be harmful to investors who believe that accounting standards have been converged worldwide--when, in fact, financial reporting differences continue to exist across national borders while being covered under the façade of the IFRS.Using China as the case country, this thesis aims to conduct an analysis on the causes of different degrees of IFRS adoption at the national level and to examine how and why such causes affect accounting standard-setters' strategies in the era of international accounting harmonization. To build a holistic view within the complex empirical phenomenon of simultaneous convergence with and resistance to the IFRS, this thesis draws on the influence of neo-institutional theory while integrating the approach from international accounting classification. It puts forward the viewpoint that, in order to comprehend the coexistence of diversified acceptance levels of IFRS, it is necessary to understand the dynamics of the institutional variables that underlie the responses deployed by accounting standard-setters when deciding whether a set of exogenously developed accounting standards can really fit into their domestic institutional settings.The research relies on extensive archival documents. The findings show that the factors influencing China's current convergence status with the IFRS are multifaceted, fluid, and interrelated. The Chinese accounting standard-setters' reaction to the pressure of international accounting harmonization is a strategic response that follows China's national ideology. Furthermore, IFRS convergence in the case of China reflects a cooperation and mutual dependence between the external institutional norm and the adopting organization, rather than a one-sided pressure. The Chinese experience also reveals that the economic incentives embedded in the technical attributes of the IFRS contributed to IFRS acceptance in China.

Download or read book Three Studies Related to the Institutionalization of International Financial Reporting Standards written by Anna Alon and published by . This book was released on 2010 with total page 175 pages. Available in PDF, EPUB and Kindle. Book excerpt: Unexpectedly, the shifting site of regulation and the related power of SEC were troubling for proponents and opponents of the change. The study contributes to transnational accounting regulation literature in a number of ways. It presents a synthesis of different theoretical perspectives to investigate institutional change in accounting regulation. It also deepens the understanding of how institutional change is theorized by evaluating the rhetoric of domestic, foreign, and transnational participants. The third study evaluates the diffusion of IFRS in developing countries, using the specific case of Russia. The study investigates whether individual perceptions of various aspects of financial reporting and reforms are associated with IFRS adoption. Particularly of interest is whether there are differences between voluntary adopters and those for which adoption was mandated. The data were obtained from a 2007 survey exploring Russia's transition to IFRS. In general, adopters had a more positive view of transition toward IFRS and financial reforms in Russia. Further, the perceptions of reforms by adopters did not vary based on whether the adoption was required by a national or a foreign mandate. The study contributes both theoretically and empirically to the literature on IFRS in developing countries. Taken together, these three studies focus on issues that have not been addressed previously in the accounting literature. They will advance the international accounting literature on factors related to IFRS adoption, regulations, and influences.

Download or read book A Qualitative Comparative Approach to the Adoption of International Financial Reporting Standards IFRS in Africa written by Solomon George Zori and published by . This book was released on 2017 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt: The last two decades has witnessed an unprecedented number of countries adopting international financial reporting standards (IFRS). Studies on the reasons for their popularity and adoption by countries have leaned towards statistical approaches, which may or may not necessarily be conclusive in explaining the cross-sectional variations in the reasons countries adopt the standards especially from developing countries. Common to this inconclusive literature so far is the monocausal rationale underlying conditions (pathways) leading to the adoption of IFRS. To reconcile these conclusions this article employs Qualitative Comparative Analysis (QCA) methodology to study the adoption/non-adoption of IFRS by African countries. In contrast to work predicated on assumptions of causal homogeneity and causal competition on policy adoption, the results of the study reveals that multiple combinations of conditions lead to adoption/non-adoption of IFRS in Africa. This article contributes to the literature by suggesting greater leverage than current empirical studies in discerning the incentives facilitating or hindering African countries with regard to IFRS adoption/non-adoption.

Download or read book Effects of Adoption of International Financial Reporting Standards written by Wai Ling Yap and published by . This book was released on 2007 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt: International Financial Reporting Standards (IFRS) is said to produce higher quality accounting information, greater comparability of accounts, greater consistency of accounting processes, greater transparency between firms and lower costs of capital. However, there are arguments against the adoption of IFRS. The first objective of this study is to examine the accounting quality of IFRS earnings and equity, compared to the accounting quality of earnings and equity prepared under previous standards; that is GAAP (Generally Accepted Accounting Principles) for United Kingdom, Hong Kong, and Singapore firms. The second objective is to investigate the effect of IFRS on the accounts (earnings and equity) of the average listed firm in United Kingdom, Hong Kong and Singapore. These three countries are chosen because of their comparable historical Anglo-accounting system roots, but deviations in approaches during the accounting standards harmonization era. This study focuses on the initial adoption of IFRS, which is the most appropriate time to measure and fully capture the impact of the changes of accounting standards from GAAP to IFRS. The reason for this is because IFRS 1 First Time Adoption of International Financial Accounting Standards states that firms have to show reconciliations between previous GAAP and IFRS on (a) equity at the date of transition and the end of the latest period presented in the entity's most recent annual financial statements under GAAP, and (b) profit or loss of the latest period of the entity's most recent annual financial statements, with supplementary explanations necessary for understanding the transition. The results of this study shows the accounts of United Kingdom firms are most affected by the adoption of IFRSs when compared to Hong Kong and Singapore firms. Results also reveal that there is little evidence to conclude that financial statements prepared under IFRS are more market value relevant than financial statements prepared under GAAP.There is also little evidence to conclude that financial statements prepared under IFRSs are incrementally value relevant relative to financial statements prepared under GAAP. The conclusions are that countries that historically chose their GAAPs on selective IASs prior to the adoption of IFRSs were less affected by adjustments to companies equity and earnings. But these adjustments, even in the less harmonized companies in the United Kingdom, were not value relevant to the equity market.

Download or read book Engineering written by Unesco and published by UNESCO. This book was released on 2010-01-01 with total page 392 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report reviews engineering's importance to human, economic, social and cultural development and in addressing the UN Millennium Development Goals. Engineering tends to be viewed as a national issue, but engineering knowledge, companies, conferences and journals, all demonstrate that it is as international as science. The report reviews the role of engineering in development, and covers issues including poverty reduction, sustainable development, climate change mitigation and adaptation. It presents the various fields of engineering around the world and is intended to identify issues and challenges facing engineering, promote better understanding of engineering and its role, and highlight ways of making engineering more attractive to young people, especially women.--Publisher's description.

Download or read book Diagnosing Corruption in Ethiopia written by Janelle Plummer and published by World Bank Publications. This book was released on 2012-07-06 with total page 448 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a study of the nature of corruption in Ethiopia. It maps eight key sectors. The diagnostics strongly suggest that, in Ethiopia, corrupt practice in the delivery of basic services is potentially much lower than other low-income countries, but that there are emerging patterns in sector level corruption.

Download or read book Mastering the Risky Business of Public Private Partnerships in Infrastructure written by Manal Fouad and published by International Monetary Fund. This book was released on 2021-05-10 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt: Investment in infrastructure can be a driving force of the economic recovery in the aftermath of the COVID-19 pandemic in the context of shrinking fiscal space. Public-private partnerships (PPP) bring a promise of efficiency when carefully designed and managed, to avoid creating unnecessary fiscal risks. But fiscal illusions prevent an understanding the sources of fiscal risks, which arise in all infrastructure projects, and that in PPPs present specific characteristics that need to be addressed. PPP contracts are also affected by implicit fiscal risks when they are poorly designed, particularly when a government signs a PPP contract for a project with no financial sustainability. This paper reviews the advantages and inconveniences of PPPs, discusses the fiscal illusions affecting them, identifies a diversity of fiscal risks, and presents the essentials of PPP fiscal risk management.

Download or read book Pocket Guide to IFRS Standards written by Paul Pacter and published by . This book was released on 2017 with total page 212 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This guide is primarily an overview of the extent of adoption of IFRS Standards in 150 countries and other jurisdictions around the world. Together they represent around 98 per cent of the world's gross domestic product (GDP)"--Page 8.

Download or read book Africa s Infrastructure written by World Bank and published by World Bank Publications. This book was released on 2009-12-01 with total page 386 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sustainable infrastructure development is vital for Africa s prosperity. And now is the time to begin the transformation. This volume is the culmination of an unprecedented effort to document, analyze, and interpret the full extent of the challenge in developing Sub-Saharan Africa s infrastructure sectors. As a result, it represents the most comprehensive reference currently available on infrastructure in the region. The book covers the five main economic infrastructure sectors information and communication technology, irrigation, power, transport, and water and sanitation. 'Africa s Infrastructure: A Time for Transformation' reflects the collaboration of a wide array of African regional institutions and development partners under the auspices of the Infrastructure Consortium for Africa. It presents the findings of the Africa Infrastructure Country Diagnostic (AICD), a project launched following a commitment in 2005 by the international community (after the G8 summit at Gleneagles, Scotland) to scale up financial support for infrastructure development in Africa. The lack of reliable information in this area made it difficult to evaluate the success of past interventions, prioritize current allocations, and provide benchmarks for measuring future progress, hence the need for the AICD. Africa s infrastructure sectors lag well behind those of the rest of the world, and the gap is widening. Some of the main policy-relevant findings highlighted in the book include the following: infrastructure in the region is exceptionally expensive, with tariffs being many times higher than those found elsewhere. Inadequate and expensive infrastructure is retarding growth by 2 percentage points each year. Solving the problem will cost over US$90 billion per year, which is more than twice what is being spent in Africa today. However, money alone is not the answer. Prudent policies, wise management, and sound maintenance can improve efficiency, thereby stretching the infrastructure dollar. There is the potential to recover an additional US$17 billion a year from within the existing infrastructure resource envelope simply by improving efficiency. For example, improved revenue collection and utility management could generate US$3.3 billion per year. Regional power trade could reduce annual costs by US$2 billion. And deregulating the trucking industry could reduce freight costs by one-half. So, raising more funds without also tackling inefficiencies would be like pouring water into a leaking bucket. Finally, the power sector and fragile states represent particular challenges. Even if every efficiency in every infrastructure sector could be captured, a substantial funding gap of $31 billion a year would remain. Nevertheless, the African people and economies cannot wait any longer. Now is the time to begin the transformation to sustainable development.

Download or read book World Development Report 2020 written by World Bank and published by World Bank Publications. This book was released on 2019-11-19 with total page 511 pages. Available in PDF, EPUB and Kindle. Book excerpt: Global value chains (GVCs) powered the surge of international trade after 1990 and now account for almost half of all trade. This shift enabled an unprecedented economic convergence: poor countries grew rapidly and began to catch up with richer countries. Since the 2008 global financial crisis, however, the growth of trade has been sluggish and the expansion of GVCs has stalled. Meanwhile, serious threats have emerged to the model of trade-led growth. New technologies could draw production closer to the consumer and reduce the demand for labor. And trade conflicts among large countries could lead to a retrenchment or a segmentation of GVCs. World Development Report 2020: Trading for Development in the Age of Global Value Chains examines whether there is still a path to development through GVCs and trade. It concludes that technological change is, at this stage, more a boon than a curse. GVCs can continue to boost growth, create better jobs, and reduce poverty provided that developing countries implement deeper reforms to promote GVC participation; industrial countries pursue open, predictable policies; and all countries revive multilateral cooperation.