How prepared was Australia for international financial reporting standards? The case of listed firms
Data(s) |
01/03/2008
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Resumo |
We measure the preparedness of listed firms for international financial reporting standards (IFRS) by changes in explanations from Australian GAAP to IFRS between the half-year and annual accounts. About one-third of sample firms changed their explanations for earnings, cashflows or equity by averages of about −7%, 67% and 3% respectively. Most changes are less than 5% for earnings and equity, and tax is the item most commonly revised. More profitable firms and firms with more reconciling items are most likely to change an explanation. In a telephone survey of chief financial officers, 70% revealed that the change followed an incorrect application of an accounting rule in the half-year accounts. <br /> |
Identificador | |
Idioma(s) |
eng |
Publicador |
Blackwell Publishing Asia |
Relação |
http://dro.deakin.edu.au/eserv/DU:30017218/cooper-howpreparedwasaustralia-2008.pdf http://dx.doi.org/10.1111/j.1835-2561.2008.0005.x |
Direitos |
2008, CPA Australia |
Tipo |
Journal Article |