Measuring The Quality of Financial Statements After the Conversion To IFRS, Case of Poland

Piechocka-Kałużna, Agnieszka

doi:10.5171/2021.119430

Cited by 2 publications

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“…The table shows that in the analysed speciality literature the findings differ regarding the impact of the IFRS standards. Many authors have expected to observe a significant impact, yet the results have shown that this has been a minimal one (Piechocka-Kaluzna, 2021;Napier & Stadler, 2020;Tomi, 2018). On the other hand, some authors claim that the implementation of the IFRS standards combined with the rapid transition to them may bring huge benefits to countries with emerging economies (Akisik, 2020).…”

Section: Literature Reviewmentioning

confidence: 99%

Extended Implementation of IFRS 15 Integrated Model in Countries with an Emerging Economy

Grosu

Mihailă

Jieri

et al. 2022

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The mandatory implementation of the International Financial Reporting Standard 15 (IFRS 15) Revenue from Contracts with Customers starting with the 2018 financial year for all those companies using the IFRS has led to a significant change in approaching the accounting policies on profits, especially those related to their evaluation and identification within the financial statement. It is a fact that this significant change has had visible effects on the information disclosed by stakeholders especially given the stressful financial statement when both the costs themselves and the lack of cash flow have amplified these results. Consequently, the aim of the present study is both to evaluate the real impact of the use of the IFRS 15 in different fields of activity and to identify those solutions in terms of solving the issues for each and every significant sector given the stressful financial conditions, especially in those countries with an emergent economy. Thus, the main objectives of the study itself refer to the identification of the framework of applicability of the IFRS 15 and its matrix transposition in the form of a scoreboard based on certain cross-panel correlation keys and the design of an extended modelling methodology for applying the IFRS 15 based on dynamic indicators and indexes. The final results refer to the design of a replicable model of extended usage of the IFRS 15 which will serve all the analysed fields of activity. This up-to-date topic is the result of the implementation of the right model in itself as well as an accurate and objective evaluation of the value of those profits originating from the contracts signed with clients for all those categories of entities using the IFRS irrespective of the type of activity or the business model.

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Section: Literature Reviewmentioning

confidence: 99%

Extended Implementation of IFRS 15 Integrated Model in Countries with an Emerging Economy

Grosu

Mihailă

Jieri

et al. 2022

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Assessment of the Quality of Transformation of Financial Reporting of Entities According to IFRS

Zasadnyi

2023

AJEE

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Background: Mandatory application of IFRS for a specified list of entities brings about additional costs in terms of material, financial and labour resources. Consequently, this encourages the search for ways to minimise costs related to the transition to IFRS adoption, that is, its formalisation. Under such conditions, the need to improve the methodological toolkit for evaluating the process of transformation of financial statements in accordance with the requirements of the IFRS is actualised. This article aims to develop a methodological toolkit for assessing the quality of the financial reporting transformation process per IFRS requirements, using Ukrainian dairy industry enterprises as a case study. Methods: The assessment of the impact of the transition to IFRS reporting on changes in the financial status of entities was carried out using statistical methods of comparison, generalisation, grouping, and coefficients. Conclusions were drawn based on the research findings employing the method of logical generalisation. Results and Conclusions: The method of assessing the impact of the application of IFRS on the financial condition of enterprises in the dairy industry of Ukraine has been improved, particularly in terms of accounting for changes in financial statements as a result of transformational adjustments before and after the date of transition to IFRS. This refinement involves employing financial coefficients as a means of assessment, facilitating the determination of the quality assessment of the process of drawing up the first financial statements of enterprises in accordance with IFRS. New methodological aspects and recommendations for assessing the quality of the transformation process in the context of the application of IFRS will ensure effective management of enterprises in the dairy industry of Ukraine, leading to an increase in the attraction of foreign investments amidst the conditions of European integration processes and the post-war period.

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Measuring The Quality of Financial Statements After the Conversion To IFRS, Case of Poland

Cited by 2 publications

References 0 publications

Extended Implementation of IFRS 15 Integrated Model in Countries with an Emerging Economy

Extended Implementation of IFRS 15 Integrated Model in Countries with an Emerging Economy

Assessment of the Quality of Transformation of Financial Reporting of Entities According to IFRS

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