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Firms, Investors, Bankers who were interested in cross border investment were facing lot of dilemma
in taking Investment Decision on the basis of these multiple Financial Reporting System. In an era of
increasing globalization, it is very essential to have a single language of financial reporting. Results
of chi-square test revealed that there is no significant difference among different benefits and
challenges available after the adoption of full-fledged IFRS, every benefit and challenge have equal
importance for the Indian corporate sector. The paper also. Download Free PDF View PDF IFRS
Adoption and Accounting Quality: A Review edrick rwegoshora Literature on IFRS adoption by
countries concerning high quality, understandable and applicable IFRS in order to be worldwide
accepted has generated a pertinent discussion, since the results presented in the literature are not
unanimous on the adoption of IFRS and accounting quality. See Full PDF Download PDF See Full
PDF Download PDF Related Papers IMPACT OF IFRS ADOPTION ON FINANCIAL
STATEMENTS OF SELECT INDIAN COMPANIES 12 34 The empirical research of financial
statements with the help of International Financial Reporting Standards (IFRS) examines the
relevance, reliability and quality of corporate reporting of companies making dual reporting in India.
Download Free PDF View PDF See Full PDF Download PDF Loading Preview Sorry, preview is
currently unavailable. Through a review of relevant literature, the study aimed at studying the
theories related to financial disclosure, analyze to, by a review of literature, review the various
theories related to financial disclosure, critically analyze various empirical studies on the IFRS
adoption effects on the functioning and operations of capital markets, identify knowledge gaps and
point out areas of further studies on IFRS and capital markets. In conclusion, more country and
region specific studies should be conducted in order to analyze the unique variation across countries
in relation to IFRS adoption benefits. The analysis is based on the sample of 10 Indian companies
that have voluntarily adopted IFRS reporting. The objective of this paper is to examine the
challenges and benefits of adoption of full-fledged IFRS in India. Current literature on IFRS usually
focuses on single countries or comparisons of few countries. The universalization of financial markets
and the increasing volume of international capital movements have led to the creation of these
international standards and regulations. You can download the paper by clicking the button above.
The significance of the change in financial ratios was measured by t test. Financial statements
prepared as per Indian GAAP and IFRS were obtained for a period of 6 years. For this purpose, the
financial statements of the industrial enterprises in the industrial indices of Europe, which can be
accessed, are analyzed between the years 1995 and 2014. Standards improve the quality,
comprehensibility and comparability of financial information, so that investors and other market
participants make decisions in the capital markets by increasing the efficiency. Financial statements
prepared as per Indian GAAP and IFRS were obtained for a period of 6 years. Of the 24
jurisdictions that do not require IFRS for all or most domestic publicly accountable entities, 14
already permit or require IFRS for at least some domestic publicly accountable entities. Worldwide
homogeneous accounting standards have been set out by the IASB in form of IFRS. You can
download the paper by clicking the button above. We broadly summarize the development of the
IFRS literature as follows: The majority of early studies paint IFRS as bringing significant benefits
to adopting firms and countries in terms of (i) improved transparency, (ii) lower costs of capital, (iii)
improved cross-country investments, (iv) better comparability of financial reports, and (v) increased
following by foreign analysts. In addition, own accounting practices of countries lead to difficulties
in the entry of multinational enterprises into the national economy. More than 100 countries have
adopted IFRS and many others have given their consent to adopt IFRS in the near future. The
analysis was performed at 10 different financial ratios before and after 2005, at 3-year and 10-year
intervals. However, these documented benefits tended to vary significantly across firms and
countries. As a result the IASB should have in place measures to ensure nations having weak
enforcement of laws are assisted to improve IFRS enforcement so as to reap maximum benefits of
IFRS adoption benefits. The main purpose of this study is to identify the statistically significant
differences between the Indian GAAP-based and IFRS-based financial statements of companies in
terms of financial statement items through the calculated financial ratios. It is becoming very difficult
for investors to compare the financial statements of entities located across different countries.
The review further noted that the studies reviewed did not consider the effects of other variables
such as political, institutional, legal, firm specific and macroeconomic factors despite the fact that
they are likely to affect IFRS adoption, contributing to varied results across nations. Download Free
PDF View PDF See Full PDF Download PDF Loading Preview Sorry, preview is currently
unavailable. Regulators believe that International Financial Reporting Standards (IFRS) developed by
International Accounting Standards Board (IASB) provide harmonized financial statements. What is
clear is that the benefits found are uneven, varying with the institutions and incentives that apply for
different companies in different countries. You can download the paper by clicking the button above.
Other recent studies examining the effects of IFRS on the inclusion of accounting numbers in formal
contracts point out that IFRS has lowered the contractibility of accounting numbers. Standardization
in accounting and financial reporting with IFRS creates a common financial language, thus
minimizing investment risks caused by regional implementation differences in international markets.
Collections include CSU faculty publications, student dissertations and theses, datasets, and teaching
materials. The analysis is based on the sample of 10 Indian companies that have voluntarily adopted
IFRS reporting. Finally this study brings out the ways through which these problems can be solved.
It is becoming very difficult for investors to compare the financial statements of entities located
across different countries. In this paper statistical significance of each area is calculated and results
discussed. Also, we have tried a classification of these papers according to the country analyzed in
each of them, making a comparative analysis between the IFRS adoption effects in Code and
Common Law countries. You can download the paper by clicking the button above. This year was
the year of the beginning of a very significant change in the international capital markets that
increased efficiency. It also discusses the IFRS adoption procedure in India and the utility for India in
adopting IFRS. Until 2000, it published 39 standards (Kocamaz, 2012, 107). Download Free PDF
View PDF IMPACT OF IFRS ADOPTION ON FINANCIAL STATEMENTS OF SELECT
INDIAN COMPANIES 12 34 The empirical research of financial statements with the help of
International Financial Reporting Standards (IFRS) examines the relevance, reliability and quality of
corporate reporting of companies making dual reporting in India. It aims to provide a cohesive
picture of empirical archival literature on how IFRS adoption affects: financial reporting quality,
capital markets, corporate decision making, stewardship and governance, debt contracting, and
auditing. The aim of this research is to identify the current situation of G20 countries regarding the
adoption of IFRS as a global standard. Identifying significant differences between Indian GAAP-
based and IFRS-based financial ratios, the study showed that IFRS adoption has led to a statistically
significant increase in liquidity, profitability and valuation ratios. This study will provide a
contribution to the field by presenting the current situation in the entire G20 countries. Only 10
jurisdictions currently do not require or permit IFRS for any domestic publicly accountable entities.
Indian accounting standard is converged with IFRS and called (IND AS). Most G20 countries either
adopted IFRS or making preparations for its adoption. For the first time, works were started in the
1960s for purposes such as providing comparability, eliminating multiple reporting requirements and
eliminating costs and evaluating health. Of the 24 jurisdictions that do not require IFRS for all or
most domestic publicly accountable entities, 14 already permit or require IFRS for at least some
domestic publicly accountable entities. More than 100 countries have adopted IFRS and many others
have given their consent to adopt IFRS in the near future. Identifying significant differences between
Indian GAAP-based and IFRS-based financial ratios, the study showed that IFRS adoption has led
to a statistically significant increase in liquidity, profitability and valuation ratios. In subsequent
years, other countries either adopted IFRS or converged to IFRS.
Overall, this analysis concludes that the quality of accounting cannot be evaluated only in terms of
IFRS adoption, either on a voluntary or mandatory basis. Regulators believe that International
Financial Reporting Standards (IFRS) developed by International Accounting Standards Board
(IASB) provide harmonized financial statements. This year was the year of the beginning of a very
significant change in the international capital markets that increased efficiency. What is clear is that
the benefits found are uneven, varying with the institutions and incentives that apply for different
companies in different countries. As a result, it was found that the adoption of IFRS related to the
accounting standard factors, political and judicial systems of the countries and the financial reporting
incentives discussed by Soderstrom and Sun (2007) to determine the quality of accounting remains
persistent. This structural evolution in the accounting regulation framework in Greece resulted in
substantial changes in the historical financial information provided by the Greek listed companies.
Download Free PDF View PDF IMPACT OF IFRS ADOPTION ON FINANCIAL STATEMENTS
OF SELECT INDIAN COMPANIES 12 34 The empirical research of financial statements with the
help of International Financial Reporting Standards (IFRS) examines the relevance, reliability and
quality of corporate reporting of companies making dual reporting in India. Financial ratios under the
categories, stability, liquidity, profitability and investment valuation were analyzed using the Gray
comparability index to analyze the relative effect, the Wilcoxon's signed ranks test, paired sample t-
test, F-test and linear regression for testing the statistical significance. This paper empirically studies
four most important areas of financial activity, i.e., financial risks, investment activities, operating
activities and debt covenants. You can download the paper by clicking the button above. For the
study, the survey method has been conducted. The studies indicate mixed results as to the benefits of
IFRS adoption which can be attributable to the political, economic and legal differences among
nations. It is generally expected that worldwide adoption of IFRS will be beneficial to investors and
other users of financial statements. The findings of the review indicate tremendous benefits arising
from IFRS adoption to capital markets, this include, enhance liquidity of markets, higher following
by analysts, minimized information asymmetry, lower costs of capital, increase of cross listings by
firms, improved foreign holdings and higher turnover of capital markets. According to the findings of
the study, although it is possible to observe that all G20 countries except USA accept IFRS as the
global accounting standard, this does not lead to the adoption of IFRS at the national level. The aim
of this research is to identify the current situation of G20 countries regarding the adoption of IFRS
as a global standard. Firms, Investors, Bankers who were interested in cross border investment were
facing lot of dilemma in taking Investment Decision on the basis of these multiple Financial
Reporting System. Since the enforcement of IFRS has already initiated in India thus it is imperative
to comprehend the benefits and cost associated with IFRS in Indian context. The paper then
provides some future research options. Also, we have tried a classification of these papers according
to the country analyzed in each of them, making a comparative analysis between the IFRS adoption
effects in Code and Common Law countries. Financial statements prepared as per Indian GAAP and
IFRS were obtained for a period of 6 years. The research is founded on structured questionnaire
survey of 150 accounting professionals and applied purposive sampling technique to assemble the
data from target respondents from various business sectors of India. You can download the paper by
clicking the button above. The main purpose of this study is to identify the statistically significant
differences between the Indian GAAP-based and IFRS-based financial statements of companies in
terms of financial statement items through the calculated financial ratios. In this paper statistical
significance of each area is calculated and results discussed. Further, while IFRS adoption was
expected to result in accounting reporting quality improvements and other capital market benefits, the
benefits have not been realized uniformly throughout the globe, this is due to factors inherent in
firms, cultural, economic and political variations among different nations. This paper investigates the
impact of IFRS adoption on financial activities of Indian companies by using a sample of ten
companies for five years, 2010-11 to 2014-15. Through a review of relevant literature, the study
aimed at studying the theories related to financial disclosure, analyze to, by a review of literature,
review the various theories related to financial disclosure, critically analyze various empirical studies
on the IFRS adoption effects on the functioning and operations of capital markets, identify
knowledge gaps and point out areas of further studies on IFRS and capital markets. Investors need
financial reporting which gives consistent comparability across countries. Of the 24 jurisdictions that
do not require IFRS for all or most domestic publicly accountable entities, 14 already permit or
require IFRS for at least some domestic publicly accountable entities.
See Full PDF Download PDF About Press Blog People Papers Topics Job Board We're Hiring. At
formulation of IFRS by IASB there were expectations of enhanced usefulness of accounting reports
to capital markets, attainment of this objective however, is dependent on the legal and institutional
framework related to financial disclosures which when weak, the achievement of this objective may
not be guaranteed. Financial ratios under the categories, stability, liquidity, profitability and
investment valuation were analyzed using the Gray comparability index to analyze the relative effect,
the Wilcoxon's signed ranks test, paired sample t-test, F-test and linear regression for testing the
statistical significance. As a result, it was found that the adoption of IFRS related to the accounting
standard factors, political and judicial systems of the countries and the financial reporting incentives
discussed by Soderstrom and Sun (2007) to determine the quality of accounting remains persistent.
Journal of Theoritical Accounting Research. 10(2) Veronica Paz Download Free PDF View PDF
IFRS Adoption and Capital Markets sciepub.com SciEP, Elkana Kimeli The need to deregulate
financial markets has created a unified goal geared towards having uniform standards of accounting
in order to help in the smooth flow of capital across economies and across the various global capital
markets. Overall, this analysis concludes that the quality of accounting cannot be evaluated only in
terms of IFRS adoption, either on a voluntary or mandatory basis. The aim of this paper is to
identify significant differences between the IFRS and the Greek General Accepted Accounting
Principles (or Greek GAAP). In this paper statistical significance of each area is calculated and
results discussed. In conclusion, more country and region specific studies should be conducted in
order to analyze the unique variation across countries in relation to IFRS adoption benefits. One of
those (Thailand) is in the process of adopting IFRS in full, and another (Indonesia) is in the process
of converg. But the evidence on some of these matters is disputed and it is unclear how far the
benefits identified are attributable to the adoption of IFRS or to other concurrent institutional
changes, particularly in enforcement. On the possible role of IFRS in the financial crisis in the EU,
more research is needed before conclusions can be drawn. Soderstrom and Sun (2007) analyzed a
research published in leading accounting journals selected from 1990's on the consequences of IFRS
adoption and found that the determinants of accounting quality after the adoption of these standards
are articulated in: quality of the standards; political and judicial system in the country; financial
reporting incentives. Collections include CSU faculty publications, student dissertations and theses,
datasets, and teaching materials. One of the most important attempts to fix this problem is the
enforcement of IFRS as a single standard in all countries. Identifying significant differences between
Indian GAAP-based and IFRS-based financial ratios, the study showed that IFRS adoption has led
to a statistically significant increase in liquidity, profitability and valuation ratios. Download Free
PDF View PDF See Full PDF Download PDF Loading Preview Sorry, preview is currently
unavailable. According to the findings of the study, although it is possible to observe that all G20
countries except USA accept IFRS as the global accounting standard, this does not lead to the
adoption of IFRS at the national level. Until 2000, it published 39 standards (Kocamaz, 2012, 107).
This paper reviews the extant literature, which deals with harmonization of accounting standards and
presents the overall consequences of IFRS adoption. Standards improve the quality,
comprehensibility and comparability of financial information, so that investors and other market
participants make decisions in the capital markets by increasing the efficiency. Further, nations should
include IFRS into their laws in order to make it mandatory for firms to adopt IFRS. Although, a
large number of empirical studies examined the aftermath of IFRS adoption, these studies were
limited in scope. Therefore, the increasing capital requirement in emerging markets requires
compliance with these standards. The main objective of this study is to examine the effects of the
change in the financial performance of the companies on the transition to IFRS in 2005. In
subsequent years, other countries either adopted IFRS or converged to IFRS. Since the beginning of
2005, thousands of enterprises have started to use international accounting and financial reporting
standards instead of national accounting policies. Indian accounting standard is converged with IFRS
and called (IND AS). Identifying significant differences between Indian GAAP-based and IFRS-
based financial ratios, the study showed that IFRS adoption has led to a statistically significant
increase in liquidity, profitability and valuation ratios. You can download the paper by clicking the
button above.
As a result the IASB should have in place measures to ensure nations having weak enforcement of
laws are assisted to improve IFRS enforcement so as to reap maximum benefits of IFRS adoption
benefits. In this paper statistical significance of each area is calculated and results discussed.
Download Free PDF View PDF 11.Emergence of International Financial Reporting Standard in India
Accounting Scenario Alexander Decker Download Free PDF View PDF International Financial
Reporting Standards From Wikipedia, the free encyclopedia Accounting Historical cost accounting
Constant purchasing power accounting satyanarayan garudasu Download Free PDF View PDF See
Full PDF Download PDF Loading Preview Sorry, preview is currently unavailable. Through a
review of relevant literature, the study aimed at studying the theories related to financial disclosure,
analyze to, by a review of literature, review the various theories related to financial disclosure,
critically analyze various empirical studies on the IFRS adoption effects on the functioning and
operations of capital markets, identify knowledge gaps and point out areas of further studies on
IFRS and capital markets. For this purpose, the financial statements of the industrial enterprises in
the industrial indices of Europe, which can be accessed, are analyzed between the years 1995 and
2014. Download Free PDF View PDF See Full PDF Download PDF Loading Preview Sorry,
preview is currently unavailable. For the first time, works were started in the 1960s for purposes such
as providing comparability, eliminating multiple reporting requirements and eliminating costs and
evaluating health. The review observed significant efforts geared towards the harmonization of the
standards of accounting globally as evidenced by the many countries which have since adopted and
incorporated IFRS in their regulatory reporting requirements. In an era of increasing globalization, it
is very essential to have a single language of financial reporting. The data from secondary
sources,conducted through personalized interview, has been examined qualitatively with respect to
IFRS convergence.The research outcome contributes to the existing literature stating that the
respondents are optimistic about the benefits related to IFRS adoption but the challenges are too a
major roadblock. The significance of the change in financial ratios was measured by t test. The
review finds that there is evidence of benefits following IFRS adoption in relation to financial
reporting transparency and comparability, the cost of capital, market liquidity, corporate investment
efficiency and cross-border capital flows. On the possible role of IFRS in the financial crisis in the
EU, more research is needed before conclusions can be drawn. You can download the paper by
clicking the button above. The universalization of financial markets and the increasing volume of
international capital movements have led to the creation of these international standards and
regulations. The results of this study present at least two limitations: The studies on IFRS adoption
researched, despite tackling institutional issues, do not show the real complexity of the reality, due to
reduce the quality of the social context to the quality of economic rationality; and the alleged quality
of standards based on principles is not enough to determine the quality of accounting. The review
further noted that the studies reviewed did not consider the effects of other variables such as
political, institutional, legal, firm specific and macroeconomic factors despite the fact that they are
likely to affect IFRS adoption, contributing to varied results across nations. Finally this study brings
out the ways through which these problems can be solved. To browse Academia.edu and the wider
internet faster and more securely, please take a few seconds to upgrade your browser. What is clear is
that the benefits found are uneven, varying with the institutions and incentives that apply for
different companies in different countries. Most G20 countries either adopted IFRS or making
preparations for its adoption. Download Free PDF View PDF IMPACT OF IFRS ADOPTION ON
FINANCIAL STATEMENTS OF SELECT INDIAN COMPANIES 12 34 The empirical research of
financial statements with the help of International Financial Reporting Standards (IFRS) examines
the relevance, reliability and quality of corporate reporting of companies making dual reporting in
India. Current literature on IFRS usually focuses on single countries or comparisons of few
countries. The research is founded on structured questionnaire survey of 150 accounting
professionals and applied purposive sampling technique to assemble the data from target respondents
from various business sectors of India. See Full PDF Download PDF See Full PDF Download PDF
Related Papers IMPACT OF IFRS ADOPTION ON FINANCIAL STATEMENTS OF SELECT
INDIAN COMPANIES 12 34 The empirical research of financial statements with the help of
International Financial Reporting Standards (IFRS) examines the relevance, reliability and quality of
corporate reporting of companies making dual reporting in India. The main purpose of this study is to
identify the statistically significant differences between the Indian GAAP-based and IFRS-based
financial statements of companies in terms of financial statement items through the calculated
financial ratios. You can download the paper by clicking the button above. Based on Soderstrom and
Sun (2007) study, this work aims to analyze literature on IFRS adoption and the accounting quality
from 2006. Download Free PDF View PDF See Full PDF Download PDF Loading Preview Sorry,
preview is currently unavailable. We broadly summarize the development of the IFRS literature as
follows: The majority of early studies paint IFRS as bringing significant benefits to adopting firms
and countries in terms of (i) improved transparency, (ii) lower costs of capital, (iii) improved cross-
country investments, (iv) better comparability of financial reports, and (v) increased following by
foreign analysts.
Of the 24 jurisdictions that do not require IFRS for all or most domestic publicly accountable
entities, 14 already permit or require IFRS for at least some domestic publicly accountable entities.
Today with increasing globalization and integration of capital markets, it has become mandatory for
companies to adopt a single language of financial reporting, i.e. IFRS (International Financial
Reporting Standards). Out of worldwide 140 jurisdictions as developed by IFRS Foundation, 116
jurisdictions require IFRS for all or most domestic publicly accountable entities in their capital
markets. It is generally expected that worldwide adoption of IFRS will be beneficial to investors and
other users of financial statements. More than 100 countries have adopted IFRS and many others
have given their consent to adopt IFRS in the near future. You can download the paper by clicking
the button above. Overall, this analysis concludes that the quality of accounting cannot be evaluated
only in terms of IFRS adoption, either on a voluntary or mandatory basis. This year was the year of
the beginning of a very significant change in the international capital markets that increased
efficiency. See Full PDF Download PDF About Press Blog People Papers Topics Job Board We're
Hiring. To this end, the current status of IFRS and the process of its adoption in G20 countries is
examined in order to determine the extent of IFRS's adoption as a global accounting standard. To
browse Academia.edu and the wider internet faster and more securely, please take a few seconds to
upgrade your browser. More than 100 countries have adopted IFRS and many others have given their
consent to adopt IFRS in the near future. According to the findings of the study, although it is
possible to observe that all G20 countries except USA accept IFRS as the global accounting
standard, this does not lead to the adoption of IFRS at the national level. The data from secondary
sources,conducted through personalized interview, has been examined qualitatively with respect to
IFRS convergence.The research outcome contributes to the existing literature stating that the
respondents are optimistic about the benefits related to IFRS adoption but the challenges are too a
major roadblock. You can download the paper by clicking the button above. Standardization in
accounting and financial reporting with IFRS creates a common financial language, thus minimizing
investment risks caused by regional implementation differences in international markets. One of those
(Thailand) is in the process of adopting IFRS in full, and another (Indonesia) is in the process of
converg. Indian accounting standard is converged with IFRS and called (IND AS). The results of
this study present at least two limitations: The studies on IFRS adoption researched, despite tackling
institutional issues, do not show the real complexity of the reality, due to reduce the quality of the
social context to the quality of economic rationality; and the alleged quality of standards based on
principles is not enough to determine the quality of accounting. This study results recognizes that
though convergence process with IFRS will pose few key challenges but the overall benefit wil. One
of the most important attempts to fix this problem is the enforcement of IFRS as a single standard in
all countries. The main purpose of this study is to identify the statistically significant differences
between the Indian GAAP-based and IFRS-based financial statements of companies in terms of
financial statement items through the calculated financial ratios. The research is founded on
structured questionnaire survey of 150 accounting professionals and applied purposive sampling
technique to assemble the data from target respondents from various business sectors of India. For
the study, the survey method has been conducted. This paper reviews the extant literature, which
deals with harmonization of accounting standards and presents the overall consequences of IFRS
adoption. At presents India aim to be joining IFRS club from the financial year 2011 to include, all
listed companies, all banking companies, all financial institutions, all scheduled commercial banks,
all insurance companies and all NBFC. Collections include CSU faculty publications, student
dissertations and theses, datasets, and teaching materials. The aim of this paper is to identify
significant differences between the IFRS and the Greek General Accepted Accounting Principles (or
Greek GAAP). In 2005, member countries of European Union(EU) adopted International Financial
Reporting Standards. This paper empirically studies four most important areas of financial activity,
i.e., financial risks, investment activities, operating activities and debt covenants.
The review observed significant efforts geared towards the harmonization of the standards of
accounting globally as evidenced by the many countries which have since adopted and incorporated
IFRS in their regulatory reporting requirements. Of the 24 jurisdictions that do not require IFRS for
all or most domestic publicly accountable entities, 14 already permit or require IFRS for at least
some domestic publicly accountable entities. Financial ratios under the categories, stability, liquidity,
profitability and investment valuation were analyzed using the Gray comparability index to analyze
the relative effect, the Wilcoxon's signed ranks test, paired sample t-test, F-test and linear regression
for testing the statistical significance. The analysis is based on the sample of 10 Indian companies that
have voluntarily adopted IFRS reporting. At presents India aim to be joining IFRS club from the
financial year 2011 to include, all listed companies, all banking companies, all financial institutions,
all scheduled commercial banks, all insurance companies and all NBFC. For the first time, works
were started in the 1960s for purposes such as providing comparability, eliminating multiple reporting
requirements and eliminating costs and evaluating health. Most G20 countries either adopted IFRS or
making preparations for its adoption. In 2001, the IASC assigned its accounting standard to IASB.
This study results recognizes that though convergence process with IFRS will pose few key
challenges but the overall benefit wil. Download Free PDF View PDF IMPACT OF IFRS
ADOPTION ON FINANCIAL STATEMENTS OF SELECT INDIAN COMPANIES 12 34 The
empirical research of financial statements with the help of International Financial Reporting
Standards (IFRS) examines the relevance, reliability and quality of corporate reporting of companies
making dual reporting in India. The main finding shows that the adoption of IFRS across the studied
period results to some improvement in the value relevance of accounting information with the stock
return model. Also, we have tried a classification of these papers according to the country analyzed
in each of them, making a comparative analysis between the IFRS adoption effects in Code and
Common Law countries. Other recent studies examining the effects of IFRS on the inclusion of
accounting numbers in formal contracts point out that IFRS has lowered the contractibility of
accounting numbers. Majority of the studies reviewed used regression analysis, however, the test to
ascertain the robustness of the regression models like linearity; multicollinearity; normality and
heteroscedasticity were not performed casting doubts on the reliability of the models used. Financial
statements prepared as per Indian GAAP and IFRS were obtained for a period of 6 years. In
addition, we also present discussion of studies that focus on specific attributes of IFRS, and also
provide detailed discussion of research design choices and empirical issues researchers face when
evaluating IFRS adoption effects. Financial statements prepared as per Indian GAAP and IFRS were
obtained for a period of 6 years. In subsequent years, other countries either adopted IFRS or
converged to IFRS. Overall, this analysis concludes that the quality of accounting cannot be
evaluated only in terms of IFRS adoption, either on a voluntary or mandatory basis. As a result the
IASB should have in place measures to ensure nations having weak enforcement of laws are assisted
to improve IFRS enforcement so as to reap maximum benefits of IFRS adoption benefits. At presents
India aim to be joining IFRS club from the financial year 2011 to include, all listed companies, all
banking companies, all financial institutions, all scheduled commercial banks, all insurance
companies and all NBFC. Since the beginning of 2005, thousands of enterprises have started to use
international accounting and financial reporting standards instead of national accounting policies. For
data analysis, descriptive statistics and chi-square test have been used. As a result it is possible to
claim that even though IFRS has expanded largely, there is still room for progress to become the
single global accounting language. Journal of Theoritical Accounting Research. 10(2) Veronica Paz
Download Free PDF View PDF IFRS Adoption and Capital Markets sciepub.com SciEP, Elkana
Kimeli The need to deregulate financial markets has created a unified goal geared towards having
uniform standards of accounting in order to help in the smooth flow of capital across economies and
across the various global capital markets. This paper investigates the impact of IFRS adoption on
financial activities of Indian companies by using a sample of ten companies for five years, 2010-11
to 2014-15. On the possible role of IFRS in the financial crisis in the EU, more research is needed
before conclusions can be drawn. You can download the paper by clicking the button above.
Identifying significant differences between Indian GAAP-based and IFRS-based financial ratios, the
study showed that IFRS adoption has led to a statistically significant increase in liquidity,
profitability and valuation ratios. The main purpose of this study is to identify the statistically
significant differences between the Indian GAAP-based and IFRS-based financial statements of
companies in terms of financial statement items through the calculated financial ratios.