This website uses cookies to ensure you have the best experience. Learn more

Critique Paper On The Discussion Of The Determinants And Consequences Of Heterogeneous Ifrs Compliance Levels Following Mandatory Ifrs Adoption: Evidence From A Developing Country

1369 words - 6 pages

Critique Paper on the Discussion of the Determinants and Consequences of Heterogeneous IFRS Compliance Levels Following Mandatory IFRS Adoption: Evidence from a Developing Country

The Philippines known as one of the developing countries in Southeast Asia has also become one of the countries supporting the shift and full compliance with the International Financial Reporting Standards (IFRS). The change from following the U.S GAAP or the localized version of the U.S GAAP to the International Financial Reporting Standards has become one of the main priorities in the accounting system of the country. However, there is a need to fully understand whether or not there really is an ...view middle of the document...

This proved to be a relatively difficult task because of the lack of data in the information needed for empirical information on the topic. Using information and data from a developed country in Africa, Kenya to be specific, and the article aimed to find an answer as to whether the economic benefits of country will greatly be affected by the compliance with the IFRS. It is said in the article that there were or are many difficulties in finding a sound conclusion because of three main reasons. One is that in the article, it is stated that it may be unclear as to whether or not full compliance will even have an effect on the information provided by DLDC. Another is that little data can be seen on whether the improvement and accuracy in the accounting information will affect how globally competitive entities may be in terms of their foreign investors. It is also unclear as to whether full compliance with the IFRS would have an economically positive effect despite the IFRS being a principle based set of standards in countries where there may be a lack of law enforcement.

The article sets out to tackle answers as to whether there is truly benefits arising from the compliance with the IFRS. In the article, it discusses the potential economic benefits the compliance with IFRS would have on developing and less developed countries would and it also discusses the challenges that may arise for accounting research because of the developing and less developed countries.

Focusing on the potential economic benefits that the compliance with the International Financial Reporting Standards could have on developing and less developed countries, the article discusses that by compliance with the IFRS DLDC would be able to provide a clearer and more improved accounting information. The improvement in accounting information may also increase the interest of foreign investors and create a larger capital for DLDC. It is also stated that the compliance with the IFRS may lead to better comparability of financial statements with different countries.

Focusing on the challenges that may be faced in discovering whether there is economic benefits for DLDC, the article discusses that there is difficulty in research mainly because of the lack of data available in the topic. The challenges may also be due to the fact that the effects of compliance with the IFRS may differ from country to country depending on the extent that they may have with it. It was discussed that challenges may arise due to the fact that the form of compliance may be followed however the substance may not be and this kind of compliance will not provide a sound conclusion as to whether or not there is economic benefits available for DLDC.

In conclusion, the article discusses the possible benefits that the developing or less developed countries may have from complying at different levels with the International Financial Reporting Standards and the challenges that may...

Other Papers Like Critique Paper On The Discussion Of The Determinants And Consequences Of Heterogeneous Ifrs Compliance Levels Following Mandatory Ifrs Adoption: Evidence From A Developing Country

Comparing Ifrs To Gaap Paper

850 words - 4 pages Comparing IFRS to GAAP Paper In this paper, I will be talking about what the International Financial Accounting Standards (IFRS) is, and General Accepted Accounting Principles (GAAP) are and what differences as well as similarities. IFRS is a set of international accounting standards that regulate what type of events and transactions should be reported in a financial statement. GAAP is accounting rules that keep a detailed logistical account

Entrepreneurship and Small Business a Case of a Developing Country

5179 words - 21 pages conclusions will be drawn primarity from descriptive data analysis. A through interpretation and analysis of the data was carried out to draw the inferences, the details of which are in the following paragraphs. DATA INTERPRETATION ANALYSIS AND DISCUSSION Out of a sample of 50 entrepreneurs 84% were the proprietors of their own small scale units and rest i.e. 16% were running their units under partnership or limited company. It signifies that in

The Effect Of A Raise In The Minimum Wage On Employment And Profitabilty In The Rmg Sector Of Bangladesh, Drawing Sources From Other Developing Countries

2440 words - 10 pages Saima Siddiqa Subject: Labour Economics Date: 22/06/15 The Effect of a Raise in the Minimum Wage on Employment and Profitabilty in the RMG Sector of Bangladesh, Drawing Sources From Other Developing Countries The study of minimum wages has led to many debates surrounding the topic whether a raise in minimum wage can kill businesses in profitability and employment or the change in profitability and employment is insignificant. This

Applying Material from Item a and Your Knowledge, Evaluate the View That Gender Difference in Levels Achievement Are the Product of Factors Outside of School

680 words - 3 pages Applying material from item A and your knowledge, evaluate the view that gender difference in levels achievement are the product of factors outside of school. Some gender patterns in educational achievement suggest that in the past boys used to exceed girls in all subjects, but, in fairly recent times girls have exceeded boys and are achieving generally better grades and levels than boys in all subjects. Some sociologists agree that gender

A Brief Discussion On The Definition Of Art

590 words - 3 pages Art is a very complicated and thorny subject. It can be a source of heated discussion in the same way as religion or politics. One person's idea of art can be very, very different from another person's view, and the disparity between them can lead to harsh words and hurt feelings.By simple dictionary definition, art is the product of human creativity. It is the human effort to imitate, supplement, alter, or counteract the works of nature

The Consequences of Cheating on College Exams

716 words - 3 pages comfortable and a more convenient way of learning as well as social learner's. I have learned from my experience that anybody can talk all they want to people who learn like this and it would be very difficult for them to pick up on what someone is trying to tell them no matter if it was their boss or anyone else. The most effective way to communicate with this type of learning style is to put in writing so they can read it step by step and they

A Discourse On Martin Luther And His Critique Of The Church

979 words - 4 pages Imagine that everywhere you go you are told that you are inferior. Every time you embark on your own you are shut down. A world where all you work for in life is for the indulgence of another. Martin Luther in his "Open Letter to the Christian Nobility of the German State," eloquently delivers a well argued critique on the oppressive nature of the Roman Church and a foundation to infuse the Christians of Germany with the power of the human

An Evolutionary Fork: Fossil Record Evidence of Humanity and Its Variation from the Primate

1694 words - 7 pages An Evolutionary Fork: Fossil Record Evidence of Humanity and Its Variation From the Primate The early history of humans (homo-sapiens) is a contentious and heavily debated subject in the scientific community. Exactly when and from which ancestry our species evolved is a topic of speculation that many disagree on. What most in the scientific community can almost unanimously agree on is that homo-sapiens did indeed evolve from lesser beings

The Following Paper Evaluates A Study That Was Conducted To Find Out Ways Which Enables Large Firms To Resolve The Problem Of Having Managers Whose Objectives Differ From The Firm Owners

1570 words - 7 pages success in the long-term. Therefore, we can conclude that the principal wishes to prevent the agents from making decisions that are not in the shareholder's interest.There are four different hypotheses established and tested in this article to analyze one single claim. The study's objective is to show that "firms which employ appropriate monitoring and incentive schemes will on average, have a higher level of profitability than firms which do not" (Jo

The Social Determinants of Health: Working Conditions as a Determinant of Health

3274 words - 14 pages Working Conditions as a Determinant of Health This summary is primarily based on papers and presentations by Andrew Jackson, Senior Economist, Canadian Labour Congress, and Michael Polanyi Assistant Professor, Saskatchewan Population Health Research and Evaluation Unit, and Faculty of Kinesiology and Health Studies, University of Regina. The presentations were prepared for The Social Determinants of Health Across the Life-Span Conference, held

Tagore: a Citizen of His Country and or the Universe

1059 words - 5 pages TAGORE: A CITIZEN OF HIS COUNTRY AND OR THE UNIVERSE Rabindranath Tagore Born at Jorasanko in the Tagore family in Bengal India on 7th May 1861. He was the ninth son of Debendranath and Sarada Devi. His grandfather Dwarkanath Tagore was a rich landlord and social reformer.Rabindranath become a citizen not only of India but of the world. Rabindranath Rabindra Nath Tagore had his initial education in Oriental Seminary School. But he did not like

Related Essays

Conversio Of Ifrs Essay

1422 words - 6 pages comment period was extended to April 20, 2009. In response to convergence issues that have arisen, the SEC approved a new timeline in February of 2010. The new timeline extends the original requirement of 2014 to 2015, prohibits early adoption, and leaves the door open for a possible choice for issuers between IFRS and U.S. GAAP. It appears that the SEC will still make a decision on conversion in 2011 as agreed upon (Burks & Pual, 2008). There

Future Of Ifrs Essay

1480 words - 6 pages now is being taken up in this report, and coming my investigation and self-reliant study I am going to give my opinion and answer the following question: Is USA going to adopt the IFRS? This paper presents research findings about the negative impact of the adoption of the IFRS predominance. A global set of standards or not? In September 2002 the IASB and the FASB agreed that a common set of high-quality, global accounting standards was a

Pros And Cons Of Gaap And Ifrs Convergence

803 words - 4 pages increasing desire of cross-border investing have made it apparent that the U.S.accounting standards known as the Generally Accepted Accounting Principles (GAAP) issued by the Financial Accounting Standards Board (FASB) can no longer remain separate from IFRS. Under the request of the Securities and Exchange Commission (SEC), FASB and IASB signed the Norwalk Agreement, which promised the convergence of GAAP and IFRS by as early as 2015. As a

Accounting And Ifrs Essay

1059 words - 5 pages draft period, public discussion, and finally, adoption of new standards. Germany has two entitles that serve as an enforcement mechanism of financial standards and as a mechanism that review and examine accounting standards in Germany – Financial Reporting Enforcement Panel (FREP) and Federal Financial Supervisory Authority (FFSA). In United States, enforcement mechanism of accounting principles is U.S. Securities and Exchange Committee (SEC