Impact of International Financial Reporting Standards （IFRS） Adoption on Key Financial Ratios＂ The Case of the Czech Republic

This contribution analyzes the impact of new International Financial Reporting Standards （IFRS） reporting rules on financial ratios prepared in the Czech companies. Using a sample of 16 Czech firms, we attempt to measure the scope and size of the differences in the selected set of financial ratios as calculated with data reported according to the traditional Czech accounting standards （CAS） and under the IFRS provisions. Our study discovers that there are important differences resulting from the two reporting formats. Our research comes to a conclusion that translation of Czech statements to IFRS may cause changes in the values of financial indicators without relationship to the real change in the firms＇ value, performance, and stability. Even though the findings were not statistically significant, the indicative results of our measurements disclosed an important fact that the transition to IFRS could cause deterioration of key indicators and thereby could impact on the overall rating of companies. One needs to be cautious with generalization due to the small sample size.

The Relevance of International Financial Reporting Standards for Small and Medium-Sized Entities （IFRS for SMEs） in Swaziland

The purpose of this study is to explore the relevance of adopting International Financial Reporting Standards （IFRS） for small and medium-sized entities （SMEs） in Swaziland. The study further seeks to determine if IFRS for SMEs can be the solution to better reporting by local SMEs. There has been a growing need for different reporting standards for small firms and big firms over the years due to the unique challenges and attributes they face especially in the area of financial reporting. This research is based on a statistical analysis of questionnaires completed by accountants from SMEs in Swaziland as well as other stakeholders who have a direct or an indirect interest in the financial statements of SMEs. These stakeholders included audit firms and the financial institutions. The sampling rate of 10% was applied across each industry to come up with a sample of 60 SMEs. Furthermore, a 100% sampling rate on the other stakeholders was applied. These were nine financial institutions and eight audit finns. The findings from the study revealed that SMEs in Swaziland are having challenges with the current reporting framework but to some extent, the framework is suitable. Most SMEs are not aware of IFRS for SMEs, therefore the accounting profession in Swaziland （SIA） has a huge role to play in training auditors and accountants in the country. Overall, IFRS for SMEs is applicable in Swaziland.

Roadmap to Future Mandatory Application of International Financial Reporting Standards （IFRS） in Japan From the Perspectives of Financial Statement Preparers

This paper seeks to contribute to the discussion on the future mandatory application of Intemational Financial Reporting Standards （IFRS） using data from a questionnaire-based survey administered to financial statement preparers, that is, management in Japan. The important findings of this paper are as follows. The majority of Japanese companies consider that the domestic markets are more important than overseas markets; the most important differences between IFRS and Japanese standards are goodwill, comprehensive income, and the recognition of revenue; it is expected that IFRS would be applied only in consolidated financial statements or in both consolidated and parent companies＇ separate financial statements; and the lack of legislation making it mandatory is the main reason why IFRS has not been adopted by Japanese companies. Overall, this paper found that Japanese management is prudent and passive regarding IFRS adoption, leaving room for further discussions on the future mandatory application of IFRS in Japan.

Financial Statements of Banks as a Source of Information About Implementation of IFRS 15： The Evidence from Poland

Banks in the economies of individual countries play the role of entities of public trust and are perceived as ＂too big to fail＂. In fact, they are exposed to risks associated with business operations. In practice, there are even instances of banks going bankrupt. Therefore, the reliability of the financial statements of a bank as a source of information about its financial condition is of particular importance. The main objective of creating IAS/IFRS and their implementation within the European Union is the strive to standardize accounting rules utilized by companies and other organizations. IFRS, as any other regulations, are subject to change over years. One of the recent changes is the introduction of IFRS 15 ＂Revenue from Contracts with Customers＂. In all entities using IAS/IFRS, communication of planned changes should involve disclosure ahead of time, regarding the analysis of their impact on the financial statements. The purpose of this paper has been to analyze whether the financial statements of banks contain any records on the impact of IFRS 15. These analyses are within the mainstream of studying how complete and prospective is the information contained in the financial statements for external users. The subjects for research are the consolidated financial statements of five major banks in Poland. As a result of research, it was found that in all studied cases, work on the implementation of IFRS 15 was observed. However, looking at every bank separately, a differentiated approach to presenting information on the standard is observed, which may be a hindrance for users of banks＇ financial statements.

The Differences between Chinese Accounting Standards for Business Enterprises and International Financial Reporting Standards as well as the Convergence Strategy Method

The continuous development and progress of international economic integration has resulted in the increasing of economic and trade exchanges between various countries.In order to implement a more systematic corporate financial supervision mechanism effectively and adapt to the needs of economic development,it is necessary to clarify corporate accounting standards and international financial reporting standards.The relationship between them are crucial to improve the transparency of financial statements and optimize management levels.This paper analyzes the differences between Chinese business accounting standards and international financial reporting standards as well as discusses the convergence process and convergence strategy methods for reference.

Harmonization of financial reporting of small and medium-sized enterprises in the Czech Republic

A current problem of the present-day accounting and financial reporting consists in aligning the accounting in small and medium enterprises. In July 2009 the International Financial Reporting Standard for small and medium-sized enterprises was issued, which extended the aligning possibilities also to small and medium enterprises considerably. If the standard is adopted by the national legislation, problems connected with the standard implementation in the national legislation will have to be solved as well as practical issues connected with making financial statements. At present the yields and the problems which can arise in connection with the standard application have to be focused on. A contribution of the standard application will be a better informative ability of financial statements on the international level. At small and medium enterprises this can contribute to better comanunication with banks, with investors, rating application are： parallel reporting according to national agencies etc. The problems connected with the standard regulations, differences between the national legislation and the standard, wide practice at keeping accounts and making financial statements and limited approach of small and medium enterprises to obtaining information and to training of their employees. Another problem can be a tight link between the trading income and the tax base, when small companies prefer rather the tax point of view.

Analysis of Hidden Value and Value Relevance of Financial Statements Pre- and Post-IFRS Adoption

This study analyses the hidden value and value relevance of financial statements pre- and post-IFRS （International Financial Reporting Standards） adoption. Prior studies on IFRS adoption provide conflicting evidence on value relevance. Market-to-book ratio and IFRS adoption value relevance using price is examined for Australian listed firms. Results show that IFRS adoption is value relevant over a longer period of time. Results are opposite for profit-making firms compared to loss-making fu＇ms which may explain the conflicting results. In the presence of goodwill, IFRS is not value relevant when post-global financial crisis （GFC） period is included. Market-to-book ratio has increased in the post-IFRS period lowering the usefulness of financial statements. Moreover, results show mic changes affecting valuation of firms may explain for differences in the results for market-to-book ratio and value relevance in different jurisdictions and time periods

强制采用IFRS对信息环境的影响研究——基于分析师预测的视角

基于国际资本市场数据,通过研究强制采用IFRS对信息环境的影响,发现分析师对强制采用IFRS公司的预测准确性高于其他类型的公司;进一步通过控制相关影响因素,对具体公司层面的预测数据和分析师特征进行分析,研究发现分析师预测准确性的提高与强制采用IFRS所带来的会计信息可比性和会计信息质量提高相关,而与管理层利用盈余管理空间迎合分析师的预测无关。结论表明,强制采用IFRS提高了信息的可比性和信息质量,从而改善了资本市场中会计信息的媒介作用及其信息环境。

International Accounting Standards Board （IASB） and Financial Accounting Standards Board （FASB） Convergence Project： Where Are They Now？

The convergence project between the International Accounting Standards Board （IASB） and the Financial Accounting Standards Board （FASB） in the United States （US） was signed on September 18, 2002 in Norwalk, Connecticut in the US. The first is responsible for issuing International Financial Reporting Standards （IFRS） nowadays, which were created 40 years ago. More than one century ago, local regulations are used in the US. The boards differ in years of experience. With the signing of the agreement, both institutions are working to reduce the divergence of accounting. Although they have made a significant progress, it is appropriate to examine whether the difference in approaches to accounting will affect the achieved agreements. It is relevant to investigate whether the years leading the standards adopted in different countries will impact the final result. The date of completion of the project has been postponed and still has not indicated the date of termination. This research is an analysis of the importance of the convergence of accounting standards at a global level. The study presents statistics on the status of the adoption of international standards by country. The study shows a summary of the expressions made by the directors of both boards about the future of the project.

Implementation Progress of IFRS for SMEs by the SMEs in Wolaita Sodo, Southern Ethiopia: From the SMEs Owner Managers’ Perspective

The government of Ethiopia adopted the International Financial Reporting Standards(IFRS)(full IFRS,IFRS for Small and Medium Entities(SMEs)and International Public Sector Accounting Standards[IPSAS])as financial accounting and reporting standard to the reporting entities in the country(Proclamation No.847,2014).Even though the standard is adopted,there has been no empirical study tried to investigate the implementation progress of IFRS for SMEs by the SMEs in Ethiopia.Therefore,the purpose of this study was to assess the implementation progress of IFRS for SMEs by the SMEs in Wolaita Sodo,Southern Ethiopia.This research used descriptive cross sectional survey approach which was based on a statistical analysis of questionnaires completed by owner managers of SMEs.The sampling rate of 10%was applied across five major sectors to come up with a sample of 67 SMEs.The findings from the study revealed that contrary to Accounting and Auditing Board of Ethiopia(AABE’s)IFRS implementation road map,majority of the SMEs even did not have any information about financial accounting standards;the adoption of IFRS by the country and they are one of the reporting entities required to prepare general purpose financial statements.Based on these findings,the author recommends that,AABE needs to revise its road map and give attention to the IFRS for SMEs implementation campaign so as to entertain the expected advantages from the IFRS adoption.Professionals need to undertake research in different parts of the country and push the implementation through training of the concerned bodies.It is also suggested that,the concerned regulatory bodies should design and pursue strong regulation for the implementation of IFRS for the SMEs in the country.

数据资产入表问题探讨:基于国际财务报告概念框架的分析

作为一种新型生产要素,数据资产入表面临着多重掣肘,使之成为制约数据要素市场化配置和数据价值持续释放的关键问题。2023年8月,财政部印发《企业数据资源相关会计处理暂行规定》,为数据资产入表提供了实践指引,但数据资产的会计处理仍缺乏统一的理论框架。本文以国际财务报告准则(IFRS)概念框架为基础,立足于数据资产确认、计量、列示和披露,探索构建基于IFRS概念框架的数据资产会计标准。本文为数据资产会计标准化建设提供了理论参考,有助于激活数据市场活力,促进数字经济高质量发展。

IFRS Adoption and the Value Relevance of Accounting Information in Nigeria： An Empirical Study

The objective of this article is to determine the effect of International Financial Reporting Standards （IFRS） adoption on value relevance of accounting information in Nigeria. The study therefore empirically analyzed the effect of IFRS adoption on value relevance of book value, earnings per share, and cash flow from operations in Nigerian firms - evidence from consumer fLrms sector. Three hypotheses guided the study. The ex-post facto research design was used. The population is made up of 25 consumer firms listed in Nigerian Stock Exchange. A sample size of 12 firms selected on the basis of availability of data among other considerations was used. The study covers a period of eight years （2008-2015）. Secondary data collected from annual reports of finns and database of Capital Assets （http：//www.capitalassets.com.ng/） were used. Multiple regression analysis was used in analyzing the data with the aid of Statistical Package for Social Sciences （SPSS） Version 22. The findings revealed that IFRS adoption has an incremental effect on the value relevance of book value, earnings per share, and cash flow from operations, with earnings per share showing the highest increment. Based on the findings, the researchers recommended that investors should consider the values of earnings, book values of equity, and cash flow from operations in the annual reports of firms prepared in accordance with IFRS before making any investment decision. However, more emphasis should be laid on earnings.

The Impact of Voluntary IAS/IFRS Adoption on Medium Italian Private Entities： Implications for the Adoption of IFRS for SMEs

The EU Regulation 1606/2002 enhanced the financial statement comparability by requiring the International Financial Reporting Standards （IFRS） mandatory application. In Italy, the implementation of EU regulation stated that listed firms are required to prepare their financial statements in accordance with IFRS, then extended to private entities on a voluntary basis. The study examines the extent to which the change from Italian Generally Accepted Accounting Principles （GAAP） to IFRS has affected Italian small and medium-sized entities （SMEs）. The results suggest that profit and equity reported under IFRS is higher than that reported under Italian GAAP and that the most relevant and frequent impacts are caused by the adoption of IAS 38, IAS 16, IAS 19, IAS 17, 1AS 39, and IAS 18. This study can inform companies and policy makers of the consequences of IFRS adoption in those countries which intend to expand the application of IFRS more widely to smaller companies. Moreover, comparing the similarity and differences between full IFRS and IFRS for SMEs, this study supports the opinion that SMEs regulation cannot provide significant simplification especially designed for the needs of SMEs.

Corporate Internet Disclosure in the Arabian Gulf： An Empirical Examination of Determinants and Attributes

This paper investigates and reports on the extent and nature of corporate internet disclosure and the determinants of internet financial disclosure （IFD） by companies listed in three Gulf Corporation Council （GCC） countries. This paper uses data from 207 listed companies in Muscat Securities Market （MSM）, Dubai Financial Market （DFM）, and Qatar Exchange （QE）. Binary logistic regression analysis is used to examine the determinants of IFD. Kruskal-Wallis test is used to examine the differences in disclosure characteristics among the three countries. The results of this study reveal that firm size is the major factor influencing intemet financial reporting in the GCC. The results reveal that the three countries differ significantly in all the disclosure attributes with the exception of the existence of email link. This paper extends the stream of research that confirms the widespread use of internet in disclosing financial information. The results are consistent with previous literature that corporate size is a major determinant of internet financial reporting. This paper provides insights into corporate internet disclosure in the GCC that will benefit all stakeholders with an interest in corporate reporting in this important region of the world.

Financial Statement Comparability： Empirical Evidence From Brazil

The convergence of accounting standards started in the 1970s, with international norms issued by the International Accounting Standards Board （IASB） and with the efforts of various countries to adopt the International Financial Reporting Standards （IFRS）, already mandatory in Brazil since 2010. Thus, comparable accounting information is clearly important, and this study plans to confirm the level of comparability of net income and equity of companies in the financial sector （in Brazil, ＂Finance and Others＂）, listed in the stock exchange, futures, and commodities （BM＆F Bovespal）, issued according to Brazilian Generally Accepted Accounting Principles （BR GAAP） and the IFRS. This study is descriptive, using a quantitative approach. Data were collected from secondary sources, more specifically, from the explanatory notes in the financial statements of the companies listed in the financial sector of the BM＆F Bovespa in the fiscal year of 2010. The results showed a reasonable level of comparability, with 68% of the companies presenting materially comparable information for net income and 72% of them for equity. However, decisions made based on data issued following the two different standards may have suffered the influence of asymmetric information; in other words, the comparability of information did not seem to satisfy those companies during the studied period of time. The main limitations of this study were data collection and selection for the development of the research because of： （1） inconsistence in net income and equity reconciliation criteria in the companies investigated; and （2） lack of uniformity in designating the adjustments that affect net income and equity in the conversion of the BR GAAP standard into the IFRS.

IAS/IFRS and financial reporting quality:Lessons from the European experience

This paper discusses the effects of the adoption of IAS/IFRS in Europe on the quality of financial reporting.In doing so,it adopts the perspective of stock market investors and focuses on value-relevance research.The adoption of IAS/IFRS in Europe is an example of accounting standardization among countries with different institutional frameworks and enforcement rules.This allows investigating whether,and to what extent,accounting regulation per se can affect the quality of financial reporting and leads to convergence in financial reporting.This is a key issue for standard setting purposes as IAS/IFRS have been adopted in very diverse countries all over the world,and many others are likely to adopt them in the near future.

网络财务报告的技术问题研究

网络技术在发展网络财务报告的过程中起着至关重要的作用 ,网络技术问题直接关系到信息使用者能否找到准确、及时、相关的财务信息。本文首先介绍运用于网络财务报告的几类技术及网络财务报告发展的现状 ,并分析发展网络财务报告必须解决的几个技术问题 ,最后提出解决技术问题的途径。

网络财务报告改革:利益相关者的态度研究——基于问卷调查数据的实证分析

随着信息技术的发展和互联网的快速普及 ,网络财务报告成为一种新的财务呈报方式。本文基于一次问卷调查所获得的数据 ,运用Cyert和Ijiri关于财务报告的分析框架 ,了解了信息使用者、信息提供者、中介机构、监管者以及财务软件商等利益相关者对网络财务报告的基本态度 ,并分析了各方利益关系者之间的差异。该研究为信息技术环境下的财务报告改革提供了初步的证据 ,并为未来网络财务报告在中国的发展提出政策性的建议。

互联网金融的本质、服务实体经济效率及监管——基于31个省级面板数据的PVAR模型分析

基于互联网金融发展与监管的现状,本文从历史演绎的角度厘清其金融本质,分析与传统金融的差异,并运用PVAR模型实证研究我国互联网金融对实体经济的影响,结果显示过去一段时期我国互联网金融机构所吸收的公众储蓄未有效转化为工业企业投资,而是大量滞留在金融体系内部,未能有效服务于实体经济。据此,本文提出“安全、公平、效率”三大顺序监管原则,并通过整合互联网技术优势、新兴商业模式和传统监管资源,构建了一个引导互联网金融与实体经济相结合的监管联动机制,以促进互联网金融充分实现其社会价值与金融价值。

网络时代财务报告质量特征的创新

网络时代 ,财务报告模式将从传统的纸质报告模式向网络报告模式转变。本文首先探讨了网络财务报告的概念与特点 ,提出网络财务报告有三个层次 ;着重分析了网络财务报告质量特征的创新 ,进一步指出应关注的网络财务报告质量的若干矛盾。