The Effectiveness of International Financial Reporting Standard on the European Union

Sarhad Hamza Khdir

Article Details

The Effectiveness of International Financial Reporting Standard on the European Union

Authors:

Sarhad Hamza Khdir

Publisher:

Tishk International University (TIU)

Journal:

International Journal of Social Sciences & Educational Studies Vol.3 Issue 2, pp.73-80

Document Type:

Article

Publication Date:

1/2016

Document Language:

English

Document ID (Org No.):

2001369512

pISSN:

2520-0968

Keywords:

Abstract:

 The objective of mandatory adoption of IFRS is to enhance the quality of accounting information in worldwide. However, this effort made challenged for European Union as a supranational body to achieve similar advantages of converged the IFRS standards. This study examines the effectiveness of IFRS on the European Union as a supranational body and whether the EU has successfully converged to the IFRS standards. The paper will also analyze if there are any difficulties with switching to the IFRS standards versus the traditional local accounting practices in EU. The results obtained show that the first application of IFRS has adopted among EU countries and the results indicate that the adoption of IFRS leads to improvement in value relevance. The results also imply that the IFRS adoption for EU does not ensure better quality of accounting information and standardized IFRS is not effective to implement for all EU because there is a lot of misperception in terms of these guidelines for preparing financial statement. The culture difference among EU shows that IFRS is not fits size standard for all EU that can lead EU to conform at the same time. The conclusion of this report will provide the answer whether it is or not effective for the EU to fully converge to the IFRS standards as a whole.

Article Details

The Effectiveness of International Financial Reporting Standard on the European Union

Authors:

Sarhad Hamza Khdir

Publisher:

Tishk International University (TIU)

Journal:

International Journal of Social Sciences & Educational Studies Vol.3 Issue 2, pp.73-80

Document Type:

Article

Publication Date:

1/2016

Document Language:

English

Document ID (Org No.):

2001369512

pISSN:

2520-0968

Accounting

European Union

Financial Accounting

Converged IFRS

Issues

Article Details

The Effectiveness of International Financial Reporting Standard on the European Union

Authors: Sarhad Hamza Khdir

Publisher: Tishk International University (TIU)

Journal: International Journal of Social Sciences & Educational Studies Vol.3 Issue 2, pp.73-80

Document Type: Article

Publication Date: 1/2016

Document Language: English

Document ID (Org No.): 2001369512

pISSN: 2520-0968

Accounting

European Union

Financial Accounting

Converged IFRS

Issues

Authors:

Sarhad Hamza Khdir

Publisher:

Tishk International University (TIU)

Journal:

International Journal of Social Sciences & Educational Studies Vol.3 Issue 2, pp.73-80

Document Type:

Article

Publication Date:

1/2016

Document Language:

English

Document ID (Org No.):

2001369512

pISSN:

2520-0968