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Book part
Publication date: 1 March 2012

Abstract

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Globalization and Contextual Factors in Accounting: The Case of Germany
Type: Book
ISBN: 978-1-78052-245-6

Article
Publication date: 15 September 2017

Christian Gross and Pietro Perotti

Accounting comparability has been the subject of significant interest in empirical financial accounting research. Recent literature, particularly that following De Franco et al.’s…

293

Abstract

Accounting comparability has been the subject of significant interest in empirical financial accounting research. Recent literature, particularly that following De Franco et al.’s (2011) influential study, has focused on utilizing the output of the financial reporting process to measure accounting comparability. In this paper, we conduct an early survey of studies using output-based measures of comparability. We provide two distinct contributions to the literature. First, we describe and comment on four important measurement concepts as well as the studies that introduced them. With this methodological contribution, we aim to facilitate the measurement choice for empirical accounting researchers engaged in comparability research. Second, we classify the sub-streams of literature and related studies. In providing this content-related contribution, we sum up what has already been achieved in output-based accounting comparability research and highlight potential areas for prospective research. As a whole, our study attempts to guide empirical researchers who (plan to) undertake studies on accounting comparability in selecting relevant topics and choosing adequate approaches to measurement.

Details

Journal of Accounting Literature, vol. 39 no. 1
Type: Research Article
ISSN: 0737-4607

Keywords

Book part
Publication date: 23 August 2021

Mohammad Nurunnabi

The study aims at reviewing a synthesis of disclosure, transparency, and International Financial Reporting Standards (IFRS) implementation in an attempt to provide directions for…

Abstract

The study aims at reviewing a synthesis of disclosure, transparency, and International Financial Reporting Standards (IFRS) implementation in an attempt to provide directions for future research. Prior research overwhelmingly supports that the IFRS adoption or effective implementation of IFRS will enhance high-quality financial reporting, transparency, enhance the country’s investment environment, and foreign direct investment (FDI) (Dayanandan, Donker, Ivanof, & Karahan, 2016; Gláserová, 2013; Muniandy & Ali, 2012). However, some researchers provide conflicting evidence that developing countries implementing IFRS are probably not going to encounter higher FDI inflows (Gheorghe, 2009; Lasmin, 2012). It has also been argued that the IFRS adoption decreases the management earnings in countries with high levels of financial disclosure. In general, the study indicates that the adoption of IFRS has improved the financial reporting quality. The common law countries have strong rules to protect investors, strict legal enforcement, and high levels of transparency of financial information. From the extensive structured review of literature using the Scopus database tool, the study reviewed 105 articles, and in particular, the topic-related 94 articles were analysed. All 94 articles were retrieved from a range of 59 journals. Most of the articles (77 of 94) were published 2010–2018. The top five journals based on the citations are Journal of Accounting Research (187 citations), Abacus (125 citations), European Accounting Review (107 citations), Journal of Accounting and Economics (78 citations), and Accounting and Business Research (66 citations). The most-cited authors are Daske, Hail, Leuz, and Verdi (2013); Daske and Gebhardt (2006); and Brüggemann, Hitz, and Sellhorn (2013). Surprisingly, 65 of 94 articles did not utilise the theory. In particular, four theories have been used frequently: agency theory (15), economic theory (5), signalling theory (2), and accounting theory (2). The study calls for future research on the theoretical implications and policy-related research on disclosure and transparency which may inform the local and international standard setters.

Details

International Financial Reporting Standards Implementation: A Global Experience
Type: Book
ISBN: 978-1-80117-440-4

Keywords

Book part
Publication date: 15 November 2021

Abstract

Details

Historical Developments in the Accountancy Profession, Financial Reporting, and Accounting Theory
Type: Book
ISBN: 978-1-80117-805-1

Article
Publication date: 1 January 1999

Alan Kilgore, Sharron Leahy and Graeme Mitchell

Considerable conceptual and technical ambiguity still surrounds the use of the true and fair view concept. Despite these ambiguities, this concept has been adopted into the…

625

Abstract

Considerable conceptual and technical ambiguity still surrounds the use of the true and fair view concept. Despite these ambiguities, this concept has been adopted into the corporate legislation of numerous countries. Investigations into the use of the true and fair view in Europe have revealed variations in interpretation and practice suggesting that countries are tending to interpret the concept in the context of national culture and national accounting tradition. An important feature of the way in which this concept has evolved in Australia, for example, is that whilst the pre‐eminence of a true and fair view has been retained, in practical terms its status has changed substantially due to numerous, significant amendments made to the legislative requirements. As such, there is a clear need to discover how the true and fair concept is interpreted and employed in practice. This study investigates the actions undertaken by finance directors of Australian firms to ensure that their financial statements can be seen to give a true and fair view i.e., how, in practice, directors apply the concept. The results of this study indicate that Australian finance directors: are unlikely to take specific additional actions to comply with the requirement that their financial statements give a true and fair view. Rather, they are likely to rely on their auditors to ensure compliance with statutory and professional requirements.

Details

Asian Review of Accounting, vol. 7 no. 1
Type: Research Article
ISSN: 1321-7348

Article
Publication date: 1 January 1999

Russell Craig and Joselito Diga

This paper proposes a framework to facilitate description of national financial accounting systems. Its first element, broad aims, identifies the fundamental purpose of national…

358

Abstract

This paper proposes a framework to facilitate description of national financial accounting systems. Its first element, broad aims, identifies the fundamental purpose of national financial accounting systems as being to effect a macro‐user or micro‐user orientation. From this emerges the second element, institutional environment, which describes the nature of regimes put in place to effect regulation. This influences the third element, the specific accounting rules and practices adopted. Aspects of international practice relating to each of these three elements are illustrated. The pedagogical benefits of the framework are demonstrated. The standard vocabulary and the structured format of the framework is used to describe, in capsule form, the national financial accounting systems of Korea and Indonesia. The framework seems likely to enhance understanding of the similarities and differences in national financial accounting systems and to contribute useful insights to international accounting matters.

Details

Asian Review of Accounting, vol. 7 no. 1
Type: Research Article
ISSN: 1321-7348

Article
Publication date: 1 January 2003

Endang Soewarso, Greg Tower, Phil Hancock and Ross Taplin

The study analyses de jure disclosure harmony between Australia and Singapore by examining selected disclosure requirements from the statutes, stock exchange listing rules and…

291

Abstract

The study analyses de jure disclosure harmony between Australia and Singapore by examining selected disclosure requirements from the statutes, stock exchange listing rules and five accounting standards. Empirical evidence as to Australian and Singaporean companies' de facto disclosure is provided. Two disclosure indices, specifically the no‐violation‐for‐non‐disclosure (NVND) index and the violation‐for‐non‐disclosure (VND), were used to assess the extent of company's disclosure of the selected requirements contained within their respective country's rules.

Details

Asian Review of Accounting, vol. 11 no. 1
Type: Research Article
ISSN: 1321-7348

Article
Publication date: 1 January 2005

Saeed Askary and Beverley Jackling

This paper investigates the financial disclosure practices of corporate annual reports published in Asian countries including Bangladesh, Indonesian, Malaysia and the Middle East…

702

Abstract

This paper investigates the financial disclosure practices of corporate annual reports published in Asian countries including Bangladesh, Indonesian, Malaysia and the Middle East countries including Bahrain, Iran, Jordan, Kuwait, Oman, Pakistan, Qatar, Saudi Arabia and Turkey. The purpose of the study is to measure the financial disclosure diversity in these countries, with a view to developing a classification of their similarities and differences in respect to their compliance with International Accounting Standards (IAS). Annual reports of 126 public companies liisted on the countries' stock exchanges are the central data source, supplemented with other relevant information about financial disclosure practices in each country. A disclosure checklist adopted from all IASs and summarised in 306 individual items of financial disclosures is used as a means of extending an understanding of financial reporting in these countries. Results show the relative degree of conformity with IASs for each of the countries included in this study.

Details

Asian Review of Accounting, vol. 13 no. 1
Type: Research Article
ISSN: 1321-7348

Keywords

Book part
Publication date: 2 December 2013

Cătălin Nicolae Albu, Nadia Albu and David Alexander

The purpose of this chapter is to examine the transfer of a concept issued in one culture to a different setting, featuring different characteristics from the one in which the…

Abstract

Purpose

The purpose of this chapter is to examine the transfer of a concept issued in one culture to a different setting, featuring different characteristics from the one in which the concept appeared.

Methodology/approach

Secondary data have been collected by analysing accounting regulations issued after the fall of communism with respect to true and fair view (TFV). Primary data have been collected by conducting eleven semi-structured interviews with representatives of major actors involved in the process of financial reporting. We have further developed and tested two research propositions.

Findings

We find that the perception of TFV in Romania depends firstly on the category of actors. Second, we find that merely including a rule or a concept in the regulations of a certain setting does not automatically mean that they will be applied de facto consistently with their original meaning, issued from a different setting.

Implications

We conclude that concept intertranslatability cannot be assumed under the circumstances investigated in our chapter, with immediate implications for other cases presupposing that concept transfer works, such as International Financial Reporting Standards (IFRS).

Research limitations

The small number of interviews we have conducted may be viewed as a limitation of our study; however, special care was exercised when choosing interviewees, and they are key persons within their organizations, or representative of all the interested parties in the process of financial reporting in Romania.

Originality/value

We contribute to an increasing literature on accounting harmonization and applicability of global standards and concepts in local contexts.

Details

Accounting in Central and Eastern Europe
Type: Book
ISBN: 978-1-78190-939-3

Keywords

Article
Publication date: 10 September 2018

Ana Isabel Morais, Ana Fialho and Andreia Dionísio

The purpose of this paper is to provide empirical evidence regarding the classification of European countries based on accounting quality metrics. The authors investigate whether…

872

Abstract

Purpose

The purpose of this paper is to provide empirical evidence regarding the classification of European countries based on accounting quality metrics. The authors investigate whether the grouping of countries based on accounting quality levels differs from other classifications based on accounting practices or country-specific factors identified in previous studies.

Design/methodology/approach

The authors run panel data regressions for 2.078 European listed companies using value relevance and earnings smoothing metrics. The authors also apply cluster analysis to classify the countries.

Findings

The results suggest that the adoption of a common set of International Financial Reporting Standards (IFRS) did not lead to a similar level of accounting quality of financial information. The authors identified three clusters of countries that are not coincident with previous classifications.

Research limitations/implications

The results show that the adoption of different accounting practices allowed in IFRS does not necessarily influence accounting quality.

Practical implications

The results suggest that the way regulators decided to incorporate IFRS into national accounting systems is one issue that may be relevant in explaining the three clusters.

Originality/value

The paper provides empirical evidence that supports two theoretical assertions. The first is that a classification depends entirely on the characteristics used to represent the countries being classified. The second is that the adoption of a single set of accounting standards does not determine similar accounting practices and does not lead to similar levels of accounting quality.

Details

Journal of Applied Accounting Research, vol. 19 no. 3
Type: Research Article
ISSN: 0967-5426

Keywords

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