FASB and IASB diverging perspectives on the new lessee accounting: implications for international managerial decision-making,IFRS adoption in ASEAN countries: perceptions of professional accountants from Singapore, Malaysia and Indonesia,IFRS and value relevance: evidence based on Canadian adoption,Introductory comments for the special edition on the effects of international financial reporting standards,The effect of mandatory XBRL and IFRS adoption and audit fees: evidence from the Shanghai Stock Exchange,The impact of guaranteed bailout assistance on bank loan overstatement: the Mexican financial crisis of the late 1990s and early 2000s
The effects of international financial reporting standards Description
The effects of international financial reporting standards
In the last 15 years the use of International Financial Reporting Standards (IFRS) has grown from few jurisdictions permitting the use of IFRS to those in which 140 worldwide jurisdictions at least allow IFRS reporting for some publicly-accountable entities (http://www.ifrs.org/Use-around-the-world). Jurisdictions addressed by research presented in this ebook include three member states of the Association of Southeast Asian Nations (ASEAN), Canada, China, Mexico, and the United States. Except for China, the research addresses jurisdictions in which adoption is either recent (Canada), in progress (ASEAN) or only for some reporting entities (the U.S.) In China, the adoption has been unique in that it coincided with requirements to implement eXtensible Business Reporting Language (XBRL). These changes affect how managers use financial information either for internal purposes—e.g., in modeling to determine an acquisition price in mergers and acquisition activities—or for external comparisons such as benchmarking performance. Further, the impact of change to IFRS reporting is costly for managers and others. Is there evidence of benefit now that extensive IFRS implementation has occurred, particularly over the last 10 years?