THE IMPACT OF IFRS ADOPTION IN EMERGING ECONOMIES

Tudor Liviu-Alexandru
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Tudor Liviu-Alexandru: ACADEMY OF ECONOMIC STUDIES, BUCHAREST

Annals - Economy Series, 2018, vol. 6, 152-157

Abstract: One of the most important elements in accounting history is the IFRS adoption where the main objective was to create a more relevant way of financial statements reporting by implementation of a transparent method of accounting calculation and creation of one economic language. The IFRS adoption implies a lot of advantages as reduction of information asymmetry, growth of quality financial information and transparency in financial statements. The same standards IFRS implemented in all the countries will decrease the number of financial statements and indirectly will reduce the reporting costs. On the other hand we can not igonore the main disadvantages of IFRS adoption (implementation costs, unqualified or unexperienced staff).

Keywords: Emerging economies; standardization; comparability; costs (search for similar items in EconPapers)
Date: 2018
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