Adoption of International Financial Reporting Standards (IFRS) in Ghana and the Quality of Financial Statement Disclosures

Agyei-Mensah, Ben Kwame

doi:10.5296/ijafr.v3i2.4489

Cited by 36 publications

(47 citation statements)

References 37 publications

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“…(a) Signaling theory: The argument of the theory is that companies comply and disclosed information in financial statements to signal superior performance for shareholders, potential investors, corporate and regulatory bodies including other market participants. Barde (2009) and Ben (2013) argued in different dimensions that compliance to International Accounting Standards by profitable companies is one way of signaling their superior performance to the market.…”

Section: Theoretical Frameworkmentioning

confidence: 99%

Compliance with Statement of Accounting Standard 14 by Listed Oil and Gas Firms in Nigeria

Muhibudeen¹,

Abdulrahman²

2019

AFA

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The study aimed at examining the financial statements of Companies in the Nigerian petroleum industry in other to determine their level of transparency which is a function of their level of compliance with the provisions of Statements of Accounting Standards (SAS) 14 in the upstream sector. Data were collected from annual reports and accounts of the 14 listed oil companies for the period of five years 2013 to 2017. They were analyzed using compliance index, descriptive statistics, correlation and regression. The result reveals that oil and gas companies in Nigeria strongly complied with the requirements of SAS14 with 92.44%. It also shows that the age, size of assets, ROA and Leverage of the companies have insignificantly effect on SAS 14. The study recommends that International Accounting Standard Board, Financial Reporting Council and other relevant regulatory bodies to, as a matter of urgency, commission additional and effective follow up campaigns and supervision aimed at enlightening not only corporate bodies but also individual stakeholders on the benefits derivable from compliance with requirement of SASs.

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Section: Theoretical Frameworkmentioning

confidence: 99%

Compliance with Statement of Accounting Standard 14 by Listed Oil and Gas Firms in Nigeria

Muhibudeen¹,

Abdulrahman²

2019

AFA

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“…Attitudes towards the adoption of IFRS have been examined in various countries (see for example, Grrece: Papadatos and Bellas, 2011;Dritsas and Petrakos, 2014; Nigeria: Madawaki, 2012;Ikpefan and Akande, 2012;Odia and Ogiedu, 2013;Herbert, Tsegba, Ohanele, and Anyahara, 2013;Okunbor and Arowoshegbe, 2014; Malaysia: Sidik and Abd Rahim, 2012;Hanefah and Singh, 2012; India: Patro and Gupta, 2012;Athma and Rajyalaxmi, 2013;Bhargava and Shikha, 2013;Vinayagamoorthy, 2014. USA: Djatej, Zhou, Gorton, andMcGonigle, 2012;Joos and Leung, 2013; Hong Kong: Helen and Kh, 2013; Ghana: Mensah, 2013;Abedana, Omane-Antwi, and Oppong, 2016; Turkey: Chebaane and Othman, 2013;Balsari and Varan, 2014;Kılıça, Uyar and Ataman, 2014;Vietnam: Phan, Mascitelli, and Barut, 2014. Libya: Zakari, 2014; Bangladesh: Hossain et al, 2015a;Hossain, Hasan,and Safiuddin, 2015b; Australia: Bodle, Cybinski, & Monem, 2016).…”

Section: Related Literature and Previous Studiesmentioning

confidence: 99%

“…They advised accounting professionals and education providers to develop materials on IFRS. Mensah (2013) examined the quality of financial reports of firms listed on the Ghana Stock Exchange before and after adopting IFRS. He found that company size, represented by net assets and auditor type are statistically associated with the quality of financial information disclosed.…”

Section: Related Literature and Previous Studiesmentioning

confidence: 99%

Students' Attitudes towards the Adoption of International Financial Reporting Standards (IFRS) in Kuwait

AL‐Mutairi¹,

Naser²,

Alduwaila³

2017

ASS

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The purpose of this paper is to examine the perceptions of a sample of Kuwaiti students about their knowledge and interest on the adoption of International Financial Reporting Standards (IFRS) and the usefulness of learning IFRS. A questionnaire survey is used in this study to identify the attitudes of the students towards adoption IFRS in Kuwait. Questionnaires were distributed to 350 students who study in colleges of business administration in Kuwait. They were asked to express their perception about the adoption of IFRS. 228 questionnaires returned completed resulting in 65% usable response rate. The surveyed students gained knowledge about IFRS through their academic program. Most of the surveyed students knew nothing about IFRS before taking an accounting course that addresses the IFRS Standards. They became interested in learning more about IFRS after studying an accounting course. The surveyed students demonstrated that they acquired information about IFRS through formal academic lectures and the Internet. Yet, they prefer to study more about IFRS through formal lectures, practical case studies applied to Kuwaiti companies and seminars. There is consensus among the respondents that the business administration academic program must have more about IFRS offered as elective courses. Although Kuwait was one of the Middle Eastern countries that adopt IFAS, the vast majority of the students who took part in survey indicated that they were not aware of this. This gives clear indication that the financial reporting courses offered in business colleges in Kuwait are theoretical and hardly use the financial reports of companies listed on the national stock exchange as cases studies. The respondents believe studying IFRS helps in mastering accounting measurements and disclosure and this would help in proceeding in their studies and support them in developing their future career.

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“…The high leverage ratio is to be expected as the biggest component of the sample being commercial and investment banks. Auditor type was simply categorized as big four (1) and non-big four (2). The results show that around 83% (30 of the 36 companies in the sample) of the listed companies in Bahrain are audited by a big four firm.…”

Section: Descriptive Statisticsmentioning

confidence: 99%

The Level of Compliance with International Accounting Standard IAS 18 by Listed Firms in Bahrain

Budaraj¹,

Sarea²

2015

JIM

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Abstract:This Study examines the association between five firm-specific characteristics and the level of compliance with International Accounting Standards (IAS 18) by listed Firms in Bahrain Bourse. A self-constructed compliance checklist was developed and the compliance index was derived to represent the level of compliance among publically traded firms in Bahrain Bourse for the year 2013 to IAS 18 disclosure requirements. The results detected an aggregate mean compliance of 63% to IAS 18 disclosure requirements. A significant positive relationship was found between the level of compliance and a company's size, and auditor type. A significant negative relationship was found between the IAS 18 disclosure level and a company's debt level (leverage). However, a significant relationship between the level of IAS 18 disclosure level and a company's profits or age could not be established in this research. The results of this research can benefit investors and companies as well, as the results will determine what level of compliance to IAS 18 are listed companies in Bahrain Bourse are committed to, and how transparent are the revenues they are reporting in their financials.

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Adoption of International Financial Reporting Standards (IFRS) in Ghana and the Quality of Financial Statement Disclosures

Cited by 36 publications

References 37 publications

Compliance with Statement of Accounting Standard 14 by Listed Oil and Gas Firms in Nigeria

Compliance with Statement of Accounting Standard 14 by Listed Oil and Gas Firms in Nigeria

Students' Attitudes towards the Adoption of International Financial Reporting Standards (IFRS) in Kuwait

The Level of Compliance with International Accounting Standard IAS 18 by Listed Firms in Bahrain

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