The Ifrs' Impact on Financial Reporting as well as the Asymmetry of Financial and Accounting Information
The mandatory adoption of IFRS represents an exogenous change in information asymmetry. As IFRS adoption is determined at the individual country level, it is less likely to reflect the endogenous preferences of a single entity. The asymmetry information redundance arises from three potential causes...
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| Format: | Article |
| Language: | English |
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Danubius University
2023-03-01
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| Series: | Acta Universitatis Danubius: Oeconomica |
| Subjects: | |
| Online Access: | https://dj.univ-danubius.ro/index.php/AUDOE/article/view/2183 |
| _version_ | 1811159968378781696 |
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| author | Gabriela Mangu (Giurea) Georgiana Janina Soare Emanuel Catalin Ciobota |
| author_facet | Gabriela Mangu (Giurea) Georgiana Janina Soare Emanuel Catalin Ciobota |
| author_sort | Gabriela Mangu (Giurea) |
| collection | DOAJ |
| description |
The mandatory adoption of IFRS represents an exogenous change in information asymmetry. As IFRS adoption is determined at the individual country level, it is less likely to reflect the endogenous preferences of a single entity. The asymmetry information redundance arises from three potential causes: for some countries, the IFRS increases accounting awareness substantially by providing additional reporting guidelines, such as segment reporting; it considerably increases comparability between countries, which facilitates monitoring and benchmarking between entities and produces a number of contemporary changes related to the implementation of new standards that have helped to reduce information asymmetry in their adoption. The IFRS’ conceptual content confirms that there is a convergence between the objectives and guidance of accounting standards, on the one hand, and the objectives and guidance of corporate governance requirements, on the other hand.
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| first_indexed | 2024-04-10T05:50:44Z |
| format | Article |
| id | doaj.art-66e9130e07414ea78a354a54c5083587 |
| institution | Directory Open Access Journal |
| issn | 2065-0175 2067-340X |
| language | English |
| last_indexed | 2024-04-10T05:50:44Z |
| publishDate | 2023-03-01 |
| publisher | Danubius University |
| record_format | Article |
| series | Acta Universitatis Danubius: Oeconomica |
| spelling | doaj.art-66e9130e07414ea78a354a54c50835872023-03-05T02:23:53ZengDanubius UniversityActa Universitatis Danubius: Oeconomica2065-01752067-340X2023-03-01191The Ifrs' Impact on Financial Reporting as well as the Asymmetry of Financial and Accounting InformationGabriela Mangu (Giurea)0Georgiana Janina Soare1Emanuel Catalin Ciobota2Valahia University TârgovișteValahia University TârgovișteValahia University Târgoviște The mandatory adoption of IFRS represents an exogenous change in information asymmetry. As IFRS adoption is determined at the individual country level, it is less likely to reflect the endogenous preferences of a single entity. The asymmetry information redundance arises from three potential causes: for some countries, the IFRS increases accounting awareness substantially by providing additional reporting guidelines, such as segment reporting; it considerably increases comparability between countries, which facilitates monitoring and benchmarking between entities and produces a number of contemporary changes related to the implementation of new standards that have helped to reduce information asymmetry in their adoption. The IFRS’ conceptual content confirms that there is a convergence between the objectives and guidance of accounting standards, on the one hand, and the objectives and guidance of corporate governance requirements, on the other hand. https://dj.univ-danubius.ro/index.php/AUDOE/article/view/2183IFRS; financial reporting; information asimmetry; IASB; fair value |
| spellingShingle | Gabriela Mangu (Giurea) Georgiana Janina Soare Emanuel Catalin Ciobota The Ifrs' Impact on Financial Reporting as well as the Asymmetry of Financial and Accounting Information Acta Universitatis Danubius: Oeconomica IFRS; financial reporting; information asimmetry; IASB; fair value |
| title | The Ifrs' Impact on Financial Reporting as well as the Asymmetry of Financial and Accounting Information |
| title_full | The Ifrs' Impact on Financial Reporting as well as the Asymmetry of Financial and Accounting Information |
| title_fullStr | The Ifrs' Impact on Financial Reporting as well as the Asymmetry of Financial and Accounting Information |
| title_full_unstemmed | The Ifrs' Impact on Financial Reporting as well as the Asymmetry of Financial and Accounting Information |
| title_short | The Ifrs' Impact on Financial Reporting as well as the Asymmetry of Financial and Accounting Information |
| title_sort | ifrs impact on financial reporting as well as the asymmetry of financial and accounting information |
| topic | IFRS; financial reporting; information asimmetry; IASB; fair value |
| url | https://dj.univ-danubius.ro/index.php/AUDOE/article/view/2183 |
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