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International Financial Reporting Standards And Its Adoption Within The Institutional Perspective

1078 words - 5 pages

Summary and Research Question:

Historically, each nation has developed and applied its own domestic accounting standards; however, globalisation and integration of capital markets result in capital which travels across global boundaries. This process reveals a need for single set of financial standards. At this point, International Financial Reporting Standards (IFRS) are developed by the International Accounting Standards Board (IASB). Even though many researches have been done within the context of the effects of IFRS adoption, those studies have not expounded the background of IFRS adoption systematically. That is why this thesis aims to understand why some economies, on the one hand, ...view middle of the document...

g., Hope, Jin, & Kang, 2006). It seems to be that the accounting literature about adoption of standards might have deprived of the theory. In order to understand international trend on IFRS, relatively little researches have conducted at the national level. This is one field which this paper will discuss.

Aims and Objectives:

In order to forecast the adoption of new accounting standards, institutional theory might be a useful framework for this study. Taking institutional theory into consideration, one of the key factors is to understand social system within institutional environment and culture. In the light of this perspectives, this study endeavour to understand why some economies have quickly demonstrated positive reaction to the IFRS standards while others still continue to reject IFRS's adoption. To do so:
(1) It will be scrutinized that what happens if there are increasing political and financial pressures on global standards;
(2) It will be examined that the integration towards the global arena enables the national economy to adopt IFRS easily or not;
(3) It will be studied that could the educational development and technical knowledge contributes to adopt IFRS?

Methods and Research Design:

The method of the research is divided into two parts; therefore, the method is the mixed one. Initially, the qualitative methods, drawing mainly on questionnaires, interviews and reports are studied, and then the evaluation of those methods will be done by the quantitative

methods. The first step in the research will be made a survey in order to understand the relation between the increasing political and financial pressures on global standards and the adoption of IFRS. Chambers of commerce, trade unions, universities, and general accounting offices will be involved to determined which questions are resolved in the survey. By the way, how the pressures are undertaken will be examined via those associations as well. This survey will provide better understanding of the relation between the pressures and the adoption of IFRS. The second step will focus on the integration process of the global economy and the benefits of this integration about the IFRS's adoption within the national economy; therefore, the interviews will be made. The international organisations: World Trade Organisation (WTO), International Federation of Accountants (IFAC), The Association of International Accountants (AIA), European Accounting Association (EAA) in particular will be the essential bodies to...

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