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Economics and Political Implications of International Financial Reporting Standards

Book Description

International Financial Reporting Standards (IFRS) are internationally-recognized financial reporting guidelines regulated by the International Accounting Standards Board (IASB) to ensure that uniformity exists in the global financial system. In addition to regulating financial reporting, the adoption of IRFS has been shown to impact the flow of foreign capital and trade. Economics and Political Implications of International Financial Reporting Standards focuses on the consequences and determinants of the adoption of the International Financial Reporting Standard (IFRS), which has remained a top issue in International Accounting. This timely publication brings to the forefront issues related to the political and economic influences and impacts of IFRS in addition to providing a platform for further research in this area. Policy makers, academics, researchers, graduate-level students, and professionals across the fields of management, economics, finance, international relations, and political science will find this publication pertinent to furthering their understanding of financial reporting at the global level.

Table of Contents

  1. Cover
  2. Title Page
  3. Copyright Page
  4. Book Series
    1. Mission
    2. Coverage
  5. Preface
  6. Acknowledgment
  7. Chapter 1: Adoption of International Financial Reporting Standards and the Changing Accounting Environment in Nigeria
    1. ABSTRACT
    2. INTRODUCTION
    3. LITERATURE REVIEW
    4. FACTORS AFFECTING THE ADOPTION OF IFRS
    5. APPLICATION OF IFRS IN NIGERIA
    6. RECOMMENDATIONS
    7. FUTURE RESEARCH OPPORTUNITIES OF IFRS ADOPTION IN NIGERIA
    8. CONCLUSION
    9. REFERENCES
  8. Chapter 2: Are Vietnamese Accounting Academics and Practitioners Ready for International Financial Reporting Standards (IFRS)?
    1. ABSTRACT
    2. INTRODUCTION
    3. THE FINANCIAL REPORTING ENVIRONMENT IN VIETNAM
    4. LITERATURE REVIEW
    5. METHODOLOGY
    6. FINDINGS
    7. SUMMARY AND CONCLUSION
    8. REFERENCES
    9. ENDNOTE
  9. Chapter 3: Consequences of IFRS Adoption
    1. ABSTRACT
    2. INTRODUCTION
    3. BACKGROUND TO IFRS
    4. TRANSPARENCY EFFECTS
    5. COMPARABILITY EFFECTS
    6. OTHER CONSEQUENCES
    7. COUNTRY ECONOMY LEVEL CONSEQUENCES
    8. FUTURE RESEARCH DIRECTIONS
    9. CONCLUSION
    10. REFERENCES
    11. KEY TERMS AND DEFINITIONS
    12. ENDNOTES
  10. Chapter 4: Determinants of and Obstacles to the Adoption of International Financial Reporting Standards in Africa
    1. ABSTRACT
    2. INTRODUCTION
    3. LITERATURE REVIEW AND HYPOTHESES DEVELOPMENT
    4. RESEARCH METHODOLOGY
    5. RESULTS AND DISCUSSION
    6. SUMMARY AND CONCLUSION
    7. REFERENCES
    8. ENDNOTES
  11. Chapter 5: IFRS, Foreign Investment, and Prevailing Institutional Structure in Africa
    1. ABSTRACT
    2. 1. INTRODUCTION
    3. 2. REVIEW OF RELATED LITERATURE AND HYPOTHESIS DEVELOPMENT
    4. 3. RESEARCH METHOD
    5. 4. EMPIRICAL RESULTS
    6. CONCLUSION
    7. REFERENCES
    8. ENDNOTES
    9. APPENDIX
  12. Chapter 6: Economic and Political Implications of IFRS Adoption in the Czech Republic
    1. ABSTRACT
    2. INTRODUCTION
    3. PREVIOUS CZECH RESEARCH STUDIES ON THE IMPACT OF IFRS ADOPTION
    4. MACRO-ECONOMIC BACKGROUND OF THE CZECH REPUBLIC
    5. THE CZECH CAPITAL MARKET
    6. CONDITIONS OF IFRS IMPLEMENTATION IN THE CZECH ACCOUNTING SYSTEM
    7. CURRENT STATE OF IFRS ADOPTION IN THE CZECH ENVIRONMENT
    8. CONCLUSION AND RECOMMENDATIONS
    9. FUTURE RESEARCH DIRECTIONS
    10. ACKNOWLEDGMENT
    11. REFERENCES
    12. ADDITIONAL READING
    13. KEY TERMS AND DEFINITIONS
    14. ENDNOTES
  13. Chapter 7: IFRS Adoption in the EU and the Challenge of Nomenclature Evidence from the UK, France, and Germany
    1. ABSTRACT
    2. 1. INTRODUCTION
    3. 2. REVIEW OF LITERATURE
    4. 3. DATA AND METHOD
    5. 4. DISCUSSION OF FINDING
    6. 5. CONCLUSION AND IMPLICATION OF FINDINGS
    7. REFERENCES
    8. ENDNOTES
  14. Chapter 8: IFRS Adoption in Poland in the Light of Empirical Research
    1. ABSTRACT
    2. 1. INTRODUCTION
    3. 2. CULTURAL CONDITIONINGS OF POLAND ON THE BACKGROUND OF OTHER COUNTRIES
    4. 3. ACCOUNTING ACT AND IFRS AS BASIC REGULATIONS IN THE SCOPE OF ACCOUNTING IN POLAND
    5. 4. IFRS IMPLEMENTATION IN POLAND IN THE LIGHT OF EMPIRICAL STUDIES
    6. 5. CONCLUSION
    7. REFERENCES
  15. Chapter 9: IFRS Convergence and Revisions
    1. ABSTRACT
    2. INTRODUCTION
    3. THEORY AND LITERATURE REVIEW
    4. RESEARCH METHODOLOGY
    5. RESULTS AND DISCUSSION
    6. 5. CONCLUSION
    7. REFERENCES
    8. KEY TERMS AND DEFINITIONS
    9. APPENDIX
  16. Chapter 10: Impact of Adopting IFRS in Ghana
    1. ABSTRACT
    2. INTRODUCTION
    3. HISTORY OF IASB AND GHANA'S ADOPTION OF THE IFRS
    4. CASE STUDIES ON EXTENT OF MANDATORY AND VOLUNTARY DISCLOSURE OF FINANCIAL AND NON FINANCIAL INFORMATION IN CORPORATE FINANCIAL REPORTS AFTER ADOPTION OF IFRS IN GHANA
    5. FUTURE RESEARCH DIRECTIONS
    6. CONCLUSION
    7. REFERENCES
  17. Chapter 11: International Accounting Standards
    1. ABSTRACT
    2. INTRODUCTION
    3. HISTORY OF IASs/IFRS
    4. THE ACCOUNTING REGULATION
    5. ACCOUNTING DEVELOPMENT AND CULTURE
    6. ACCOUNTING REGULATION IN DEVELOPING COUNTRIES
    7. THE ADOPTION OF IASs/IFRS
    8. ACCOUNTING STANDARDS SETTING PROCESS
    9. CHALLENGES OF IASs/IFRS IMPLEMENTATION
    10. CONCLUSION
    11. REFERENCES
  18. Chapter 12: Are IFRS Adoption Benefits in Developing Countries a Time-Lag?
    1. ABSTRACT
    2. INTRODUCTION
    3. LITERATURE REVIEW
    4. METHODOLOGY
    5. DISCUSSION
    6. CONCLUSION AND RECOMMENDATIONS
    7. FRONTIER FOR FURTHER RESEARCH
    8. REFERENCES
  19. Chapter 13: International Financial Reporting Standards (IFRS) Adoption in Vietnam
    1. ABSTRACT
    2. INTRODUCTION
    3. LITERATURE REVIEW AND HYPOTHESIS DEVELOPMENT
    4. METHODOLOGY
    5. FINDINGS
    6. DISCUSSIONS
    7. CONCLUSION
    8. REFERENCES
    9. APPENDIX
  20. Chapter 14: Rational Asymmetric Development
    1. ABSTRACT
    2. 1. INTRODUCTION
    3. 2. FINANCIAL REPORTING, IFRS, TRANSFER PRICING, AND POVERTY IN AFRICA
    4. 3. RATIONAL ASYMMETRIC DEVELOPMENT AND THE DARK SIDE OF TRANSFER PRICING
    5. 4. AFRICA RISING, RESOURCE-RICH SSA COUNTRIES, EXCLUSIVE GROWTH, AND POVERTY
    6. 5. RESOURCE-RICH COUNTRIES, TRANSFER MISPRICING (TM), AND CAPITAL FLIGHT
    7. 6. CASE STUDY: ZAMBIA, TRANSFER MISPRICING, GLENCORE, THE COPPER INDUSTRY, AND POVERTY
    8. 7. CONCLUDING IMPLICATIONS
    9. ACKNOWLEDGMENT
    10. REFERENCES
    11. ENDNOTES
  21. Chapter 15: The Brazilian Case of IFRS Adoption
    1. ABSTRACT
    2. INTRODUCTION
    3. A BRIEF HISTORY OF ACCOUNTING PRACTICES IN BRAZIL
    4. THE BRAZILIAN CONVERGENCE PROCESS TO IFRS
    5. IFRS POSTIMPLEMENTATION: NEW PERSPECTIVES
    6. REFERENCES
  22. Chapter 16: The Determinants and Financial Statement Effects of IFRS Adoption in Nigeria
    1. ABSTRACT
    2. 1. INTRODUCTION
    3. 2. BACKGROUND
    4. 3. RESEARCH METHOD
    5. 4. DATA ANALYSIS AND TEST OF HYPOTHESES
    6. FUTURE RESEARCH DIRECTIONS
    7. CONCLUSION
    8. REFERENCES
    9. APPENDIX
  23. Chapter 17: The Effect of International Financial Reporting Standards Adoption on Foreign Direct Investment and the Economy
    1. ABSTRACT
    2. 1. INTRODUCTION
    3. 2. LITERATURE REVIEW
    4. 3. RESEARCH HYPOTHESES
    5. 4. METHODOLOGY
    6. 5. EMPIRICAL RESULTS (TABLES 3-8)
    7. 6. DISCUSSION OF RESULT
    8. 7. RECOMMENDATIONS
    9. 8. FUTURE RESEARCH
    10. 9. CONCLUSION
    11. REFERENCES
    12. KEY TERMS AND DEFINITIONS
  24. Compilation of References
  25. About the Contributors