Impact of IFRS on the accounting

The accession of Romania to EU - in 2007 - confirmed the mandatory application IFRS in the consolidated financial statements of Romanian listed companies. From 2012, the application of IFRS is extended to the separate financial statements of the listed companies. Applying the Gray index of comparabi...

Full description

Saved in:
Bibliographic Details
Published in:Accounting and management information systems 2014-09, Vol.13 (3), p.466
Main Author: Istrate, Costel
Format: Article
Language:English
Subjects:
Accounting
Accounting policies
Accounting systems
Compliance
Economic reform
Enforcement
Financial statements
Hypotheses
International finance
International Financial Reporting Standards
Literature reviews
Net income
Securities markets
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:The accession of Romania to EU - in 2007 - confirmed the mandatory application IFRS in the consolidated financial statements of Romanian listed companies. From 2012, the application of IFRS is extended to the separate financial statements of the listed companies. Applying the Gray index of comparability, we attempt to measure the impact of the transition to IFRS on the accounting figures for the comparative year 2011. Our findings (slight increase of equities, decrease in income, ROA, ROE, ROS, increase in leverage) suggests that the impact of IFRS on Romanian companies is not very important and is not always in the same direction as the changes that occurs in countries that belong to the European continental accounting model.
ISSN:1843-8105
2559-6004