Advantages and problems of IFRS implementation within the framework of unification of the financial reporting process

Kaipova, G. S.; Assanova, Altynay B.; Serikbayeva, S. G.

doi:10.46914/1562-2959-2022-1-2-305-312

Cited by 3 publications

(2 citation statements)

References 10 publications

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“…This has allowed entities, particularly those with less resources, to be able to account for goodwill without incurring excessive costs associated with impairment estimates (Martínez, Rubio & Morales 2023). This adoption does, however, impact the comparability of financial information (Kaipova, Assanova & Serikbayeva 2022).…”

Section: Brief Overview Of Goodwillmentioning

confidence: 99%

A review of research performed on the approach to the subsequent measurement of goodwill

Jhavary,

Ecim,

van Zijl

2024

Journal of Economic and Financial Sciences

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Orientation: By taking stock of goodwill accounting literature, the article identifies key themes and highlights the lack of innovation in goodwill and intangibles’ accounting evolution.Research purpose: This article suggests pure grounded theory research is required to develop a novel perspective on goodwill accounting.Motivation for the study: Little progress has been made to overcome the dated issues related to goodwill impairment necessitating a genuinely fresh approach.Research approach/design and method: A search was performed on the Scopus Database and all sources containing a combination of ‘goodwill’ and ‘impairment’, ‘amortisation’ or ‘depreciation’ in the title, abstract or keywords were extracted. A total of 231 sources from 1990 to 2022 are analysed. These are coded with the support of a content analysis and a bibliometric analysis.Main findings: This research identifies the dominance of positivist quantitative research and financial economics as a key issue that may be holding back progress on the subsequent treatment of goodwill. The research iterates three core issues, namely: (1) that the impairment-only approach allows too much managerial discretion, (2) an inability to reasonably estimate the useful life of goodwill deters many from supporting goodwill amortisation and (3) sometimes goodwill may be a wasting asset while others may genuinely have an indefinite useful life.Practical/managerial implications: This research may be relevant for standard setters when considering goodwill accounting methods.Contribution/value-add: The research provides insights into existing literature and highlights areas for future accounting research.

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Section: Brief Overview Of Goodwillmentioning

confidence: 99%

A review of research performed on the approach to the subsequent measurement of goodwill

Jhavary,

Ecim,

van Zijl

2024

Journal of Economic and Financial Sciences

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“…It has varying impacts on value relevance (VR) in different countries, with conflicting results [3]. IFRS adoption is crucial for generating reliable financial information that satisfies the needs of users and decision-makers in national and international markets [15]. The adoption of IFRS is expected to improve the quality and comparability of financial information, which is relevant to investors in the decision-making process [5].…”

Section: Introductionmentioning

confidence: 99%

Assessing the Impact of International Financial Reporting Standards (IFRS) through Bibliometric Research

Judijanto,

Ningsih,

Wati

et al. 2023

account. Fin.

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The present study evaluates the influence of International Financial Reporting Standards (IFRS) on scholarly literature through the utilization of bibliometric analysis. This study examines the frequency of occurrence of terms in a dataset consisting of renowned publications, thereby uncovering significant themes and areas of focus in IFRS research. Prominent terminology such as "Financial Reporting Standard," "Reporting," and "Accounting" indicate an exhaustive examination of the practical implementation of reporting standards and accounting principles. Underappreciated terminologies such as "Mandatory Adoption" and "Earnings Management" underscore intricate domains of inquiry, addressing the complexities and ramifications linked to the implementation of IFRS. The analysis reveals overarching themes such as sustained exploration, strategic considerations, and practical application, which offer valuable insights for both researchers and practitioners. The research contributes to the delineation of research priorities, the provision of instructional materials, the orientation of policy deliberations, and the resolution of pragmatic obstacles within the ever-evolving domain of IFRS research.

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Improving Accounting for Financial Assets of Budgetary Institutions Using IFRS

Ishenbaeva,

Abdullaeva

2024

Bulletin of Science and Practice

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International Financial Reporting Standards (IFRS) are an integral part of accounting, the application of which improves the comparability of data with those of other international enterprises in the relevant industry and helps investors make the most informed economic decisions. Research objectives: analysis of existing literature on the advantages and problems of implementing IFRS as part of the unification of the financial reporting process. Problems associated with the implementation of budget accounting and reporting of financial assets of budgetary institutions using IFRS. The main problems in the transition of budgetary institutions to IFRS are considered to be the inconsistency of IFRS with domestic accounting practice, the immaturity of the economy and financial markets, the lack of IFRS specialists and constant changes in standards. Entities of public interest and large businesses have the right to apply changes made to IFRS before their publication, in the manner established by the Cabinet of Ministers of the Kyrgyz Republic, with subsequent disclosure in the notes to the financial statements.

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Advantages and problems of IFRS implementation within the framework of unification of the financial reporting process

Cited by 3 publications

References 10 publications

A review of research performed on the approach to the subsequent measurement of goodwill

A review of research performed on the approach to the subsequent measurement of goodwill

Assessing the Impact of International Financial Reporting Standards (IFRS) through Bibliometric Research

Improving Accounting for Financial Assets of Budgetary Institutions Using IFRS

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