DISCUSSION OF The Impact of Mandatory IFRS Adoption on Accounting Quality: Evidence from Australia

Elias, Nabil

doi:10.2308/jiar-10224

Cited by 13 publications

(17 citation statements)

References 11 publications

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“…In order to do this, management has to provide reliable and relevant financial information regarding share price, earnings, book value per share and other performance indicators that will help investors" assess and evaluate the company"s performance and prospects. The quality of financial information can be assessed by, amongst other things, the incidence of earnings management (Elias, 2012). There has been a lot of research on with respect to earnings management and value relevance of accounting information (Olayinka, 2012;Jinadu, 2016).…”

Section: Introductionmentioning

confidence: 99%

Earnings Management and Value Relevance in Nigeria: A Pre and Post Ifrs Analysis

Temile

Mohammed

Jatmiko

2018

Int. j. soc. sci. humanit. invent.

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The purpose of this article is to analyse the literature concerning legal framework for outer space activities by states. Review was conducted on the elements of national space law, including literature critiquing particular strengths or weaknesses of existing laws and literature, on the obligations placed on States under international law and on why writers make particular recommendations as to the content of legislation. The article will summarise the key elements one would anticipate finding in the outer space regulatory framework and which will form the structure of the analytical framework when considering how States implement international space law in practice. In recent times, the issue of earnings management and value relevance has caused financial reports to come under scrutiny.

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Section: Introductionmentioning

confidence: 99%

Earnings Management and Value Relevance in Nigeria: A Pre and Post Ifrs Analysis

Temile

Mohammed

Jatmiko

2018

Int. j. soc. sci. humanit. invent.

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“…Studies find that IFRS adoption or convergence is associated with accounting quality in Australia (Chua et al, 2012;Elias, 2012) and the France (Zéghal et al, 2011). Adopting IFRS affects the financial position of a publicly reporting accounting entity.…”

Section: Effects Of Adopting Ifrs On Financial Statements and Accountmentioning

confidence: 99%

“…[25][26][27]; that is, the costs of inventories other than those in IAS 2 (Para. 3) shall be assigned using first in, first out (FIFO) or weighted average cost formula.…”

Section: Comparison Of Ias 2 and As-005mentioning

confidence: 99%

“…Accounting studies on IFRS and its adoption vary by aim and objective. While some illustrate a specific international standard (e.g., Monday, 2009), some others examine the effect of IFRS adoption and convergence on accounting quality (e.g., Barth et al, 2008;Chua et al, 2012;Elias, 2012;Zeghal et al, 2012) as well the quality of financial statement information (Iatridis, 2010). Other studies investigate the international politics of accounting standards (e.g., Königsgruber, 2010;Posner, 2009Posner, , 2010 and IFRS harmonization (e.g., Ramanna, 2013 1 ) and their relevance (Alali and Foote, 2012;Tyrrall et al, 2007).…”

Section: Introductionmentioning

confidence: 99%

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Empirically Investigating Saudi Arabian Accountants’ Readiness to Implement IAS 2

Al-Mousa¹,

Al-Adeem²

2017

FMIR

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This study focuses on practicing accountants in Saudi Arabia to examine their readiness to adopt the mandatory International Financial Reporting Standards (IFRS). More specifically, it investigates the International Accounting Standard for Inventories, an indicator for accountants' understanding of IFRS requirements. To do so, we conduct an online questionnaire survey, which reveals that 52.27% accountants may not be ready for IFRS implementation. The lack of knowledge about certain IAS 2 requirements raises further concerns about accountants' readiness to implement more complicated IFRS, some of which have no comparable local financial accounting standards. These findings draw attention to the effectiveness of IFRS training courses. Further, 57.20% accountants, all of whom reviewed the Saudi Organization for Certified Public Accountants' (SOCPA) website, provided appropriate answers, indicating SOCPA's significant contribution toward the spreading of awareness and knowledge about IFRS. Our findings have implications for practitioners and accounting regulators as well as bodies responsible for standardizing accounting practices in Saudi Arabia. In particular, they suggest steps necessary to increase accountants' readiness for IFRS adoption, which became mandatory since January 1, 2017, for all listed companies. In conclusion, this study serves as a foundation for future research on the topic, which can be extended to the realm of auditors, and obstacles confronting accountants in IFRS implementation.

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“… While we acknowledge that the longitudinal nature of our study poses a number of challenges, as economic and global conditions can change during the sample period (e.g., potential impact of the global financial crisis), Australia is one of the countries least affected by the global financial crisis (Chua, Cheong, & Gould, ; Elias, ). That is, overall, our findings do not seem to be affected by macroeconomic conditions. …”

mentioning

confidence: 99%

Evolution of intangible asset accounting: Evidence from Australia

Dinh

Kang²,

Morris³

et al. 2018

Financ Manag Account

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This study investigates how the adoption of IFRS in Australia has changed the accounting for goodwill and identifiable intangible assets (IIA). Based on unique hand‐collected data for 802 Australian firm‐years during 2000–2010, we find that expenses related to IIA are higher under IFRS, which is consistent with the view that IFRS accounting policies for IIA are stricter than those under Australian domestic accounting standards pre‐2005 (AGAAP). Our results show two effects that accompany higher IIA expenses under IFRS, which reduce a negative impact on earnings: (i) lower goodwill expenses, and (ii) a shift in recognition of IIA from those with finite useful life to IIA with indefinite useful life. Finally, our market value analyses suggest that the market does not treat mechanical goodwill amortization as a genuine expense, but does treat as genuine expenses discretionary impairment charges, and more lenient IIA amortization under AGAAP. Our results are in line with prior Australian studies claiming that imposing stricter accounting rules for intangible assets under IFRS tends to diminish the quality of investors' information set.

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DISCUSSION OF The Impact of Mandatory IFRS Adoption on Accounting Quality: Evidence from Australia

Cited by 13 publications

References 11 publications

Earnings Management and Value Relevance in Nigeria: A Pre and Post Ifrs Analysis

Earnings Management and Value Relevance in Nigeria: A Pre and Post Ifrs Analysis

Empirically Investigating Saudi Arabian Accountants’ Readiness to Implement IAS 2

Evolution of intangible asset accounting: Evidence from Australia

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