International Financial Reporting Standards: A Review of Status of Adoption and Approaches for Evaluation

Abstract

Abstract. The purpose of this review is to explore various approaches and perspectives that are currently being used by empirical studies reporting the impact of IFRS adoption in different jurisdictions around the globe. For this purpose to be better served, this study also presents at the outset an overview of the scope, objectives and current adoption status of IFRS. This study reviewed the literature on classifications of IFRS adoption studies with the view of deducting methodical frameworks outlining the dimensions that may warrant investigation for IFRS to be consented as a set of quality and global accounting standards. This study concludes that the success of IFRS as an international accounting standard depends on one hand in its technical quality economically yielding to both users and reporters of financial statements and on the other hand their acceptance across different jurisdictions despite their political, cultural and economic diversities.

Bentuk Penerapan International Financial Reporting Standard (IFRS) Di Negara Anggota Asean

“…International Financial Reporting Standard (IFRS) merupakan sebuah standar akuntansi international yang dirancang oleh International Acounting Standard Board (IASB) khusus untuk digunakan secara global guna untuk menciptakan standar akuntansi keuangan yang seragam (Maryono, 2010). Keseragaman standar ini menyebabkan meningkatnya kualitas kualitatif pelaporan keuangan yaitu dapat dibandingkan, dengan keseragaman antar negara akan menghilangkan hambatan bagi para investor untuk melakukan investasi di berbagai negara yang berbeda, selain itu keseragaman standar akan mempermudah perusahan perusahaan multinasional dalam menysun laporan keuangan konsolidasi antara induk dan anak yang berada di wilayah negara yang berbeda (Nijam & Jahfer, 2016).…”

IFRS Adoption and Value Relevance of Accounting Information: Evidence from a Developing Country

“…The second major aspect focused or concluded by IFRS studies conducted in value relevance perspective is the IFRS effect on value relevance or incremental value relevance of the specific accounting information concerned. Earnings per share, book value of equity, research and development expenditure, goodwill, other capitalized intangible assets and unrealized gain are some of the key accounting information that have been used for testing the differential value relevance or incremental value relevance caused by the IFRS adoption (Nijam & Jahfer, 2016). Value relevance of earning has improved followed by the adoption of IFRS (e.g., Bao & Chow, 1999; Barth et al, 2008; Bartov, Goldberg, & Kim, 2005; Iatridis & Rouvolis, 2010; Ismail et al, 2013; Jermakowicz et al, 2007; Türel, 2009).…”