Compliance with International Financial Reporting Standards (IFRS) Disclosure Requirements: Evidence from Listed Companies in Zambia

2019 ◽  
Author(s):  
Eledy Sakala ◽  
Chanda Sichinsambwe
Keyword(s):  
Financial Reporting ◽  
Listed Companies ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Financial Reporting Standards ◽  
Disclosure Requirements

The level of compliance with International Financial Reporting Standards (IFRS 7)

2015 ◽  
Vol 11 (3) ◽  
pp. 231-244 ◽  
Author(s):  
Adel Mohammed Sarea ◽  
Zahra Abdulla Al Dalal
Keyword(s):  
Financial Reporting ◽  
Research Question ◽  
Financial Sector ◽  
Listed Companies ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Content Type ◽  
Financial Reporting Standards ◽  
Ifrs 7 ◽  
High Level

Purpose – The purpose of this paper is to examine the level of compliance with International Financial Reporting Standards (IFRS 7) by listed companies in Bahrain Bourse (BB). Design/methodology/approach – First, the authors design disclosure compliance checklist of ten requirements of IFRS 7. Second, a score of 3 is assigned if high level of compliance, 2 is assigned if medium level of compliance, 1 is assigned if low level of compliance. The sample of the study comprises of (21) companies listed in BB for year 2013. Findings – The main findings are, the level of compliance varied by industry and the highest level of compliance reported for the investment sector whereas the lowest for the insurance industry. This result indicates that all listed companies are complying with IFRS 7 in terms of the standard disclosure requirements. Practical implications – In this paper attempt has been made to support the argument of previous studies. The paper attempts to test and answer the research question; does the financial sector in Bahrain comply with IFRS 7? These results could lead to high level of awareness about the financial instruments. Adoption of the IFRS 7 could lead to high level of compliance and play a significant role in attracting global investors’ interest to the local markets, especially in a developing country like Bahrain. Originality/value – This paper provides an insight from the reality of the financial market in Bahrain as a result of answering this question; does the financial sector in Bahrain comply with IFRS 7?

scholarly journals First time adoption of IFRS 15 “Revenue from contracts with customers“: the case of Lithuanian listed companies

2020 ◽  
Vol 21 ◽  
pp. 2
Author(s):  
Darius Vaicekauskas
Keyword(s):  
Financial Reporting ◽  
Financial Statements ◽  
Listed Companies ◽  
Economic Benefits ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Revenue Recognition ◽  
Financial Reporting Standards ◽  
The Impact ◽  
First Time

 Revenue accounting is one of the most important areas of financial accounting. Revenue is one of the key absolute financial ratios that reflects the economic benefits generated by entities that result in increased shareholders‘ equity. This article investigates the first time adoption of new IFRS 15 “Revenue from contracts with customers“ which in International financial reporting standards (hereinafter – IFRS) system is mandatory to apply starting from 1 January 2018. The new IFRS 15 supersedes the previous international accounting standards regulating revenue recognition and introduces a conceptual 5-step revenue recognition model. The purpose of this article is to evaluate the impact of the first-time adoption of IFRS 15 “Revenue from contracts with customers“ on the financial statements of Lithuanian listed companies. This purpose is achieved while using the following research methods: analysis of International financial reporting standards (IFRS) and scientific literature, as well as analysis of the content of financial statements. An empirical study revealed that the first-time adoption of IFRS 15 had no material impact on the financial statements of Lithuanian listed companies. Most of the companies surveyed applied the standard using a simplified retrospective modified method and did not pay much attention to the disclosure of first-time adoption. For those affected by the standard, the effect was mostly notable in the following areas: reclassifications of commissions and brokerage fees, changes in revenue recognition principles from the revenue recognition over a time to revenue recognition at specific point in time and vice versa.

Influence of International Financial Reporting Standards on Earnings Management: Comparative Study of Pre-Post IFRS Era in Malaysia

2019 ◽  
Vol 16 (11) ◽  
pp. 4692-4697
Author(s):  
Suramon Chancharoen ◽  
Saroge Vasuvanich ◽  
Khomsan Laosillapacharoen
Keyword(s):  
Financial Reporting ◽  
Stock Exchange ◽  
Listed Companies ◽  
Cross Sectional Study ◽  
Earning Management ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Cross Sectional ◽  
Financial Reporting Standards ◽  
Quality Of Accounting Information

Purpose—The motive of this study is to examine the IFRS (International Financial Reporting Standards) and to investigate the influence of its introduction on earning management in the companies (registered as public listed companies) of Malaysia, as the idea of IFRS is to make the statements of the companies more transparent and comparable. Design/Methodology/Approach—100 firms listed on Bursa Malaysia (Stock exchange) were taken for the sampling of data and were investigated to examine the quality of accounting information. In this study, the motive was to evaluate and measure the Earning Management Score (EMS) with respect to the context of Malaysian listed companies. It is based upon cross-sectional study which was introduced by Kothari et al. (2005) and later modified by Jones. The discretionary accruals in this study are evaluated on the basis of the historical estimations of the industry. Findings—The findings of this research suggests that IFRS influences the recognition of the losses in financial statements which depends upon the disclosure requirements and also the relevance of the financial data. Research Limitations/Implications—Every research is bounded by certain limitations. Similarly, in this study there were also few limitations encountered. Firstly, this study covers only one aspect of IFRS which is observance of the intensity of Earning Management, Therefore the conclusion is drawn towards that respective aspect only. Also, the EM (Earning management) is not only and always apprehended via the accrual models, so in future reference other models can be used as well. Finally, this study was based on cross-sectional approach which assumes that all the firms in the industry tend to have same accruals. Whereas, in reality companies differ from each other in structure, characteristically and in all aspects.

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