国际财务报告准则对实践报告的影响 [2]
论文作者:英语论文论文属性:课程作业 Coursework登出时间:2015-07-28编辑:Karlie点击率:5049
论文字数:1437论文编号:org201507262319348945语种:英语 English地区:美国价格:免费论文
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摘要:本论文论述了国际财务报告准则对实践报告的影响,不仅强调国际财务报告准则是什么,也将谈论国际财务报告准的需求,优点和缺点。让读者更全面地认识国际财务报告准则。
h the FASB board in the U.S, the standards have been shifted from the IAS14 to IFRS8 operating segments in November 2006. IFRS 8 defines operating segments as a component of an entity that participates in the business activities that generates revenue and incurs expenses. The operating segments are those constituent that give out discrete information of the financial statements of a firm. The different firms adopted IFRS8 from 1st January 2009. Different firms with separate financial statements use IFRS 8. It can also be applied to the firms consolidated financial statements whose debt or equity is traded in the public market. The implementation of IFRS 8 has brought about significant changes in the accounting and financial treatment of segments and their reporting. Despite, several qualms regards that surfaced at the time, the standard, contrary to these qualms has not affected the number of segments disclosed. Considering an average of 150 companies, the mean has increased from 3.30 to 3.56. On the basis of geographical location, this standard did manage to disclose much than its predecessor IAS 14. Many companies, which had previously not tended to disclose smaller segments, have also now started too, segments such as Non-current assets, tax etc. are also being disclosed. With regard to adherence to standards and laws, research after the implementation has concluded that only marginal number of companies rely on measures other than using IFRS, and infrequent. Hence, segmental reporting is prepared and reviewed more in accordance with IFRS, rather than other basis like GAAP. Essentially, many a times, discrepancies have arisen because of differences in reporting between FTSE100 and FTSE200, with regard to their recognising of CODM (Chief Operating Decision Maker). Through its ability to conduct interim audits, the standard also provides the benefit and flexibility to draw attention to the interim risks and their resolving, this in turn provided a better association between financial statements and the reports. . Nonetheless, it has been identified, the disclosures in terms of the word count is higher in the new standard. A quintessential advantage that this standard provides to companies is that the reports are prepared in accordance with the management's viewpoint. This has given both the users and prepares an opportunity look at the management perspective on reporting.
The disadvantages of the new standard (IFRS 8) to the old standard (IAS14) can be understood. IFRS 8 is involved in the adoption of a US standard that was 'vague and represented US requirements over European accounting methods' (Neveling, 2007). The new standard adopts the management approach in defining segments. The Management approach necessitates 'identification of operating segments on the basis of internal reports that are regularly reviewed by the entity's chief operating decision maker in order to allocate resources to the segment and assess its performance' (IASB, 2006). The main limitation of IFRS 8 is that it obliges the revelation of information that is made and measures for management decisions. The financial information prepared by GAAP for external users. A groups segments and how the performances are measured and reported is what the IFRS 8 management approach depends on. Sukhraj (2007) points out concerns with regard to the chief of decision maker (CODM) in IFRS 8. He reveals that the standard is not specific of who should regularly rev
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