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- Title
Analysis of Effects of IFRS Adoption on the Comparability of Financial Reporting: Evidence from Saudi Listed Companies.
- Authors
Hassan, Mohammed Faisal
- Abstract
The accounting consolidation process designed in accordance with the IASB framework to obtain understandable and comparable information, and increasing the quality of accounting standards is the main driving force of consolidation. Since the accession of Saudi Arabia to the G20, the adoption of international financial reporting standards has considered an important event in the future economic development of Saudi Arabia. Saudi Arabia adopted the International Financial Reporting Standards on 1 January 2017. Financial statements prepared in accordance with IFRS will certainly be more useful to users at the international level, but there is uncertainty about their usefulness at the national level. This study aims to analyze the impact of the adoption of IFRS on the comparability of the financial reports of a sample of companies listed on the Saudi Stock Exchange that are expected to differ significantly from the generally accepted accounting standards in Saudi Arabia. To achieve this objective, the study measured the quantitative impact of the application of IFRS on income figures and financial positions. The results of the study indicate that there are statistically significant differences between the variables resulting from the application of two sets of International Financial Reporting Standards adopted in Saudi Arabia and the Saudi (GAAPs). The results of this study are of great importance to those interested in research in the field of transition to IFRS, as well as to regulatory authorities in the Kingdom.
- Subjects
SAUDI Arabia; GROUP of Twenty; INTERNATIONAL Financial Reporting Standards; FINANCIAL statements
- Publication
Journal of Emerging Issues in Economics, Finance & Banking, 2019, Vol 8, Issue 1, p2698
- ISSN
2306-367X
- Publication type
Article