Search Results for international-financial-reporting-standards
Abstract
This study evaluates how International financial reporting standards (IFRS) can control the development of sustainable and fair value of economic entities through the governance role. Following the growing dynamism of the global business world and the growing demands of transparency and accountability, the International Financial Reporting Standards (IFRS) that have been created by the International financial reporting standards Board (IFRSB) are now instrumental to the quality of financial reporting and accruing greater investor and stakeholder trust. In addition, the implementation of these standards in the framework of the effective governance system also helps in enhancing financial and non-financial disclosure concerning sustainability that helps in attaining the long-term value taking into account both economic, social and environmental aspects. The methodology in the study was descriptive-analytical. The sample size of 50 accountants and auditors of different companies was employed to create data using a questionnaire. Analytical data was conducted on the basis of SPSS software and path analysis models. The research model contained three key variables namely, the governance role of IFRS, which serves as the independent variable, the quality of disclosure and transparency, which relates to sustainability as the mediator variable, and the generation of sustainable fair value as dependent variable. The findings showed the direct and indirect influence of governance on sustainable value creation wherein disclosure quality was a partial mediator in such a connection. The results indicate that when corporate governance is combined with the use of international standards, the transparency and corporate responsibility increase and this adds to the long-term corporate value as well as supporting sustainable development and equity among the stakeholders.
Abstract
The study aims to figure out the extent to which the commitment to the application of the International Financial Reporting Standards (IFRS) affects the results of the evaluation of banking performance, the study based on a key premise that the commitment of commercial banks to the application of international financial reporting standards positively affects the results of the evaluation of banking performance through the preparation of financial statements that are transparent, appropriate and comparable with other banks in all countries of the world, For the purpose of testing the hypothesis of the research and achieving its objectives, the deductive approach was used in the presentation, study and analysis of research variables in the theoretical aspect, the descriptive quantitative analytical approach and the comparative method were adopted in the practical aspect.
The study reached a set of conclusions, the most important of which is that the results of the ratios and financial indicators based on the amounts extracted from the financial statements prepared in accordance with the International Financial Reporting Standards reflected positively on the evaluation of the performance of banks and led to improving the results of the performance evaluation of the bank and the process of comparison with the ratios of banks in other countries.
The study also recommended the need to intensify efforts among the relevant authorities concerned with the process of applying international financial reporting standards in banks to increase focus and shed light on finding a unified mechanism for the application of standards and follow up on their proper application.
Abstract
Information from financial reports is the basis upon which users of financial information make various decisions accounting measurement based on historical cost is objective and reliable but not appropriate, as it reflects past events and does not provide future information, hence the global trend of replacing historical cost with fair value, since the information generated is relevant and reflects the unit's true financial position. The research therefore sought to illustrate the impact of fair value adoption on the quality of financial reporting. The importance of research stems from the importance of quality financial reporting because of its significant influence on decision makers.Given the international trend to replace the historical cost basis with fair value accounting measurement, it was important to examine the ability of fair value financial reporting to provide users of financial reporting with financial information and indicators that are appropriate and useful for good economic decision-making and also to identify underlying causes Behind the trend of preparers of International Accounting Standards (IAS) and International Financial Reporting Standards (IFRS) to use fair value in accounting measurement. To test the validity of the research hypothesis, the impact of using fair value on the quality of financial reporting was measured by measuring the adequacy of financial reporting at Baghdad commercial bank . The researchers came to several conclusions, the main one being that there is an impact of using fair value on bank activities after its application. They recommended that efforts be made to apply fair value across a wider range of financial assets to include all their assets and liabilities properly according to the International Financial Reporting Standards (IFRS), as the impact may become clearer.
Abstract
Digital markets have undergone significant transformations, creating opportunities for growth but also presenting challenges related to the reliability of information and the emergence of "information manipulation" practices that negatively impact investors' decisions. This research aims to analyze the role of financial accounting in mitigating this phenomenon by highlighting the relationship between the quality of accounting information and the level of transparency in digital markets. The study adopted a descriptive-analytical approach to review previous literature, alongside a survey method through a questionnaire distributed to a sample of 112 individuals, including accountants, auditors, and investors. The research focused on specialized tools and techniques in digital financial accounting, such as the implementation of International Financial Reporting Standards (IFRS), which aim to standardize and regulate financial disclosure globally. The study also addressed electronic accounting information systems, relying on cloud-based software like QuickBooks and Xero, which help improve financial transparency and facilitate precise tracking of financial transactions. Additionally, the study emphasized the role of external independent auditing, which contributes to ensuring the credibility of financial data and reducing manipulation, as well as the importance of corporate governance through the application of strict rules to ensure transparent financial disclosure, thereby enhancing trust in digital markets. The results revealed a noticeable prevalence of information manipulation in digital markets, such as inflated indicators and exaggerated advertisements. The study also found a statistically significant inverse relationship between the quality of accounting information and information manipulation, where the application of international standards, electronic accounting systems, external auditing, and corporate governance significantly contribute to reducing manipulation and enhancing the reliability of information.