Download or read book The Impact of Determinants on the Adoption of the International Financial Reporting Standard for the Small and Medium Sized Entities IFRS for SMEs written by Mourad Mroua and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The objective of this paper is to analyze the cultural, economic and legal factors through the international accounting standard 'IFRS for SMEs' adoption for the Small and Medium- sized Entities. Based on a sample of 82 countries be they adopters and non-adopters of IFRS for SMEs, the results show a positive and significant effect of the Strength Investor Protection, power distance, and legal environment as well as a negative and significant effect of individualism, uncertainty, avoidance, and foreign market size on the IFRS adoption decision for the SMEs case. Nevertheless, masculinity, regulations of securities exchanges, efficacy corporate boards, strength audit and reporting standards reveal insignificant effect on the IFRS adoption decision. Our findings have implications on revising the IFRS for SMEs and will assist in addressing future complications in the IFRS _SMEs adoption decision process by considering cultural dimensions, economic, and legal factors affecting the decision. Besides, our results allow investors to have an idea about the specific environmental characteristics of the countries that have adopted the "IFRS_SME"
Download or read book Potential Benefits And Limitation Of Adopting The IFRS For Germany written by Marvin Müller and published by GRIN Verlag. This book was released on 2016-02-02 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2016 in the subject Business economics - Accounting and Taxes, grade: 81%, University of South Wales, language: English, abstract: The report aims to analyse the opportunities, negative impacts and limitations of adopting IFRS for German SMEs. At first, a classification of SMEs in Germany is given and their current situation is demonstrated. The next passage critically analyses the impact of an introduction of IFRS for SMEs in Germany. The analysis includes investigating if the effect varies in different crucial business factors of SMEs as well as their company type. At last, the results are summarised and recommendations are given.
Download or read book International Financial Reporting Standards Implementation written by Mohammad Nurunnabi and published by Emerald Group Publishing. This book was released on 2021-08-23 with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt: Contributions to International Accounting aims to address a vital gap in research by focusing on providing relevant and timely studies on International Financial Reporting Standards implementation for local and international policymakers.
Download or read book The Macroeconomics Determinants on the Adoption of the IFRS for SMEs written by Claudio Pais and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Small and medium-sized entities (SMEs) represent more than 95% of companies worldwide and account for more than 65% of employment. As a move towards SME harmonization, in 2009 the International Accounting Standards Board (IASB) issued the International Financial Reporting Standards (IFRS) for SMEs. Due to the lack of studies on adoption of IFRS for SMEs, we analyze the relationship between macroeconomic factors and countries' decision to adopt IFRS for SMEs. Based on a sample of 84 adopters and non-adopters of IFRS for SMEs, both developed and developing countries, we find evidence that countries without a national set of financial accounting standards for SMEs, with experience of applying IFRS and a common law legal system are more likely to adopt IFRS for SMEs. These results may be due to low transaction costs, the importance of having some knowledge of IFRS reporting given its complexity and belonging to IFRS based countries facilitating adoption of IFRS for SMEs. Additionally, we find that European Union (EU) member countries are less likely to adopt the standard. Knowledge of macroeconomic factors affecting the decision to adopt IFRS for SMEs is useful for the various entities that define international accounting harmonization, such as the IASB, regulators and international accounting firms,since this information can help them to promote worldwide adoption of the standard.
Download or read book Economics and Political Implications of International Financial Reporting Standards written by Uchenna, Efobi and published by IGI Global. This book was released on 2016-03-08 with total page 434 pages. Available in PDF, EPUB and Kindle. Book excerpt: International Financial Reporting Standards (IFRS) are internationally-recognized financial reporting guidelines regulated by the International Accounting Standards Board (IASB) to ensure that uniformity exists in the global financial system. In addition to regulating financial reporting, the adoption of IRFS has been shown to impact the flow of foreign capital and trade. Economics and Political Implications of International Financial Reporting Standards focuses on the consequences and determinants of the adoption of the International Financial Reporting Standard (IFRS), which has remained a top issue in International Accounting. This timely publication brings to the forefront issues related to the political and economic influences and impacts of IFRS in addition to providing a platform for further research in this area. Policy makers, academics, researchers, graduate-level students, and professionals across the fields of management, economics, finance, international relations, and political science will find this publication pertinent to furthering their understanding of financial reporting at the global level.
Download or read book Countries Adoption of the International Financial Reporting Standard for Small and Medium Sized Entities IFRS for SMEs Early Empirical Evidence written by Devrimi Kaya and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The International Financial Reporting Standard for Small and Medium-sized Entities (IFRS for SMEs) is increasingly being adopted in a number of jurisdictions. Despite the economic importance of non-publicly accountable entities, little is known about what factors influence countries' decisions to adopt IFRS for SMEs. In a unique sample of 128 countries, we find that countries that are not capable of developing their own local generally accepted accounting principles are more likely to adopt IFRS for SMEs. We also provide evidence that in jurisdictions where full IFRS have been applied to private firms, the likelihood of adoption of IFRS for SMEs increases, suggesting that jurisdictions reduce the financial reporting burden on SMEs. Moreover, in line with prior literature, there is evidence that countries with a relatively low quality of governance institutions are more likely to adopt this new set of accounting standards. The results also hold under alternative measures and different estimation approaches. Overall, our results are helpful in understanding the worldwide diffusion of IFRS for SMEs. Standard setters and regulators might consider our study in the future development of accounting harmonisation of non-publicly accountable entities.
Download or read book An Analysis of the Possible Effects of the Introduction of IFRS for Small and Medium Sized Entities written by Michele Bertoni and published by . This book was released on 2013 with total page 11 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 2006 the International Accounting Standards Board (IASB) issued a draft version of the International Financial Reporting Standards for Small and Medium-Sized Entities (IFRS for SMEs), marking an important milestone in the process of accounting harmonization. It is a sign, in fact, that the effects of globalization have reached not only large companies, but also small and medium entities. Many SMEs are already characterized by a high level of internationalization, being greatly influenced by external and international factors. Their reporting framework, however, is strictly rooted in country-specific regulations, and the attempts of harmonizing reporting rules for SMEs within the EU pale in comparison to the results obtained for the financial statements of listed companies. However, there is a need for transparency and comparability in financial reporting for SMEs too, given also the important role played by small and medium-sized entities in most European economies. For example, the presence of SMEs in the Italian context is so important that, in the past, some authors have considered the "dwarfism" of the Italian companies to be an economic advantage. In this paper, we consider the implications of the prospective application of IFRS by European SMEs, highlighting the pros and cons of introducing a differential reporting system for this category of firms. The complications that will be probably introduced in the existing regulatory framework with the adoption of IFRS for SMEs are analyzed, placing an emphasis on the function played by the financial statements of unlisted companies. We argue that the coexistence of a two or even three-tiered structure of accounting regulation could lead to confusion in the users and could also increase the costs of financial reporting for the preparers. Finally, we comment on the decision of the IASB, instead of incorporating specific application criteria in the new standards, to let the single States that are going to implement them to establish the qualitative and quantitative criteria that need to be fulfilled in order to apply the IFRS for SMEs.
Download or read book Research Handbook on Financial Accounting written by Luz Parrondo and published by Edward Elgar Publishing. This book was released on 2024-01-18 with total page 305 pages. Available in PDF, EPUB and Kindle. Book excerpt: Through careful classification of the opportunities and challenges facing current financial regulatory bodies, the Research Handbook on Financial Accounting inspects the financial implications of our ever-changing modern economic and environmental climate.
Download or read book Basis for Conclusions written by International Accounting Standards Board and published by . This book was released on 2013 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Accounting and Auditing Practices in Africa written by Mariaan Roos and published by AFRICAN SUN MeDIA. This book was released on 2017-06-28 with total page 178 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book comprises nine chapters drawn from the papers presented at the fourth annual conference of the African Accounting and Finance Association which took place in Somerset West, South Africa in 2014. The chapters address a number of aspects of accounting, ranging from the adoption of IFRS for SMEs in Africa, the compliance by SMEs with IFRS for SMEs in Ghana, the provision of finance to small businesses, drivers of corporate failures, financial regulations, the audit of casinos, the auditors' report and investment decisions, the role of government audit committees, and audit fees and audit quality.
Download or read book The Effect of IFRS for SMEs on the Financial Reporting Environment of Private Firms written by Joachim Gassen and published by . This book was released on 2017 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: I investigate how the International Financial Reporting Standard for Small and Medium-sized Entities (IFRS for SMEs) contributes to the development of private firm financial reporting. I interview a sample of leading accounting experts from 24 jurisdictions around the globe to understand the role of private firm financial reporting and financial transparency in their jurisdiction as well as the importance of IFRS for SMEs. I find significant variation across jurisdictions in my sample and document that IFRS for SMEs predominantly influenced private firm financial reporting and transparency by serving as a blueprint for national regulatory reforms. In some jurisdictions, IFRS for SMEs has also been adopted as an optional reporting framework. Direct firm-level adoption of IFRS for SMEs has been low in these jurisdictions with the exception of South Africa where it seems to be used relatively widely. Based on my response data, I suggest some potential rationales for my findings and discuss potential reasons for the observed cross-jurisdiction variation in private firm financial transparency and IFRS for SMEs adoption.
Download or read book New Models of Financing and Financial Reporting for European SMEs written by Eva Kaili and published by Springer. This book was released on 2019-02-28 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book looks at the 23 million registered Small and Medium Enterprises (SMEs) that make up 98 per cent of the EU economy. Addressing the high end of SMEs in terms of new models for SME funding and financial reporting, this merged way of looking at SMEs reveals a ‘myopic’ thinking in terms of net present value and (future) cash flows generating short-termism and low risk appetite for business. This is not an accounting issue, but rather a preference toward certain financial tools. A segment of SMEs, the ones that seek new ways of funding possibilities, as well as modern technologies (MTFs listing, blockchain, ICOs, etc.) do require, even without knowing, IFRS for SMEs. This book reveals how market conditions impact the financial performance and sustainability of SMEs and also generate innovative policy interventions and financing strategies for SME integrity and efficiency. The authors frame their arguments in the context of the Capital Markets Union, looking at the Innovation Triangle, SME growth ecosystem and business models. They conclude by advocating for closing the circle of financing and financial reporting for SMEs, while considering if new financial models of financing and financial reporting are good for all the SMEs or only for some. The economy is being shaped by new models of financing and financial reporting. Read this practitioners’ view to understand the current changes and challenges.
Download or read book Standardization of Financial Reporting and Accounting in Latin American Countries written by Lourenço, Isabel and published by IGI Global. This book was released on 2015-07-01 with total page 371 pages. Available in PDF, EPUB and Kindle. Book excerpt: Accounting has often been described as the language of business. As the increasing competition of overseas markets begins to affect even the smallest local companies, many more business professionals must become fluent in accounting principles and practice. Standardization of Financial Reporting and Accounting in Latin American Countries highlights the recent move to International Financial Reporting Standards (IFRS) and addresses some of the concerns raised due to cultural differences and the level of enforcement of these standards in separate countries. Describing the evolution of both financial and managerial accounting due to the adoption of IFRS, this book is an essential reference source for both students and seasoned professionals in the fields of accounting, finance, and related management fields, especially those with an international emphasis.
Download or read book International Financial Reporting Standard IFRS for Small and Medium sized Entities SMEs written by and published by . This book was released on 2015 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book 2015 Amendments to the International Financial Reporting Standard for Small and Medium sized Entities IFRS for SMEs Summary and Feedback Statement Initial comprehensive review of the IFRS for SMEs written by and published by . This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book International Corporate Reporting written by Pauline Weetman and published by Routledge. This book was released on 2020-02-19 with total page 422 pages. Available in PDF, EPUB and Kindle. Book excerpt: This textbook provides a comprehensive overview of international corporate reporting which enhances students’ understanding of diversity and convergence in the field. The authors discuss the institutional and cultural context in which international corporate reporting has developed over the years as well as the global reach of IFRS Standards from the IASB throughout and beyond the European Union, into interest groups and emerging economies. Other key elements explored throughout the book include assurance through auditing and corporate governance, narrative reporting, strategic and corporate social responsibility, group accounting, current accounting issues and taxation in corporate reports. Indicative research examples show how the methods used in research papers may be understood and applied. Case studies outline short projects based on corporate cases, with related links to material on corporate websites. Helpful and reliable sources of information and data are identified through hyperlinks to accessible websites. End-of-chapter questions encourage discussion of the main issues. Throughout there is a focus on accountability and the information needs of stakeholders. This new edition of a classic text is fully revised and updated in order to remain essential reading for students of international accounting and corporate reporting globally. The book will be an invaluable resource for postgraduate taught programmes and final-year undergraduate courses in accounting, finance and business studies.
Download or read book International Financial Reporting Standard for Small and Medium sized Entities written by David Wagener and published by GRIN Verlag. This book was released on 2008-08-21 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2008 in the subject Business economics - Accounting and Taxes, grade: 1,3, University of the West of England, Bristol (Bristol Business School (University of the West of England)), course: Externes Rechnungswesen/ Corporate Reporting, language: English, abstract: The Exposure Draft of an IFRS for SMEs published in February 2007 is supposed to enhance the comparability between worldwide SMEs, and therefore meet the user needs, by concentrating on regulations that play a role for SMEs. Furthermore it is expected to reduce the financial reporting burden of the preparers, reporting SMEs without public accountability, of the financial statements. Another benefit, in case of widespread application of the standard, is expected to be the falling costs of capital of SMEs. This is because the allocation and pricing of capital is easier with a higher comparability of the financial statements of SMEs. Major issues of change were the impairment of goodwill, the cost method for associated companies, finance leases as well as the expense of research and development costs. Goodwill is unlike in full IFRSs, tested for impairment losses on indication and impaired only to the fair value. This reduces the workload spent on annual impairment testing but may lead to dilutions of expenses. Associated companies can, also in the consolidated statements, be accounted for with the cost method and the fair value model through profit or loss, which are much easier than the equity method. However, since intra-company transactions are not cancelled out, the new regulations might lead to higher profits. The accounting of finance leases changed in two respects: The regulations of lessor accounting was totally left out of the standard and has to be looked up in full IFRSs. The lessee accounting was simplified by allowing the preparers of the financial statement to determine the cost of the lease by only calculating the fair value of the leased property. This also leads to smaller expenses over the total lease period. When it comes to the research and development expenditure only minor changes were introduced. The IASB decided for providing SMEs with a choice in accounting treatment between expending both research and development cost or, on the other hand, to capitalize the development cost if certain criteria are met. Although it means a further simplification it has to be doubted that many entities decide against the possibility to capitalize the development cost but to expense them.
