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Article
Publication date: 6 August 2018

Noor Houqe

This paper aims to analyze the economic and financial reporting consequences of International Financial Reporting Standards (IFRS) adoption.

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Abstract

Purpose

This paper aims to analyze the economic and financial reporting consequences of International Financial Reporting Standards (IFRS) adoption.

Design/methodology/approach

Literature review.

Findings

The survey of the IFRS adoption literature shows that the implementation of IFRS has been successful in reducing information asymmetry, improving the quality of information for users, enhancing transparency and comparability and positively influencing capital markets. In general, the positive effects of IFRS are associated with firms in strong enforcement regimes that have incentives to comply. The survey find enforcement of IFRS to be a recurring theme throughout the literature reviewed and is therefore an area which requires development.

Practical implications

In particular, there is a need to develop a mechanism for the enforcement of accounting standards internationally. Hence, there is a need for collaboration between the International Accounting Standards Board and regulatory bodies around the world to maximize the effectiveness of international accounting standards.

Originality/value

Given the considerable discussion about mandating IFRS for US firms by the Securities and Exchange Commission, this study’s results are both important and well-timed.

Details

International Journal of Accounting & Information Management, vol. 26 no. 3
Type: Research Article
ISSN: 1834-7649

Keywords

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Article
Publication date: 8 January 2020

Kamran Ahmed, Muhammad Nurul Houqe, John Hillier and Steven Crockett

The purpose of this paper is to determine the properties of analysts’ cash flows from operations (CFO) forecast generated for Australian listed firms as a productive activity…

288

Abstract

Purpose

The purpose of this paper is to determine the properties of analysts’ cash flows from operations (CFO) forecast generated for Australian listed firms as a productive activity, within the wider processes of financial disclosure in Australia.

Design/methodology/approach

Two categories of criteria are adopted: first, basic predictive statistical performance relative to a benchmark model and earnings forecasts; and second, relevance for equity pricing, as indicated by the market reaction to cash flow or forecast error reactions. The final sample comprised 2,138 observations between 2001 and 2016 and several regression models are estimated to determine the relative performance and market reaction.

Findings

Analysts’ consensus cash flow forecasts demonstrate poor predictive performance relative to earnings forecasts. Cash flow forecasts are typically naïve extensions of earnings forecasts. Furthermore, cash flow forecasts appear to be of minimal use for equity market participants in complementing earnings forecasts’ role in informing firms’ equity pricing.

Practical implications

While analysts’ earnings forecasts are useful for making predictions, the role of analysts’ cash flow forecasts in capital market functional efficiency appears quite limited.

Originality/value

This study is one of few that examines comparative usefulness of analysts’ earnings and cash flow forecasts and their predictive power using the Australian setting. Additionally, it enriches the sparse international literature on such forecasts.

Details

Accounting Research Journal, vol. 33 no. 1
Type: Research Article
ISSN: 1030-9616

Keywords

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Article
Publication date: 2 October 2017

Mohammad Tareq, Muhammad Nurul Houqe, Tony van Zijl, Dennis William Taylor and Clive Morley

The purpose of this study is to develop a new measure for discriminatory related party transactions (DRPTs). There are currently measures for such discriminatory transactions but…

774

Abstract

Purpose

The purpose of this study is to develop a new measure for discriminatory related party transactions (DRPTs). There are currently measures for such discriminatory transactions but the new measure has a strong theoretical basis and is less susceptible to measurement error.

Design/methodology/approach

This paper develops and tests a new measure for these discriminatory transactions. Type I and Type II error rates and the power of the new measure are compared with an existing measure using computer-simulated and real data.

Findings

The capital market sensitivity of the new measure is also tested and compared with the existing measure. The new measure is found to be superior.

Practical implications

The new measure of DRPTs has the potential to contribute to both further research on the impact of related party transactions and policy-making in relation to DRPTs.

Originality/value

This paper has developed and tested a new measure for DRPTs.

Details

International Journal of Accounting & Information Management, vol. 25 no. 4
Type: Research Article
ISSN: 1834-7649

Keywords

Available. Content available
Article
Publication date: 26 August 2014

418

Abstract

Details

Asian Review of Accounting, vol. 22 no. 3
Type: Research Article
ISSN: 1321-7348

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