By Cătălin Albu,Răzvan V. Mustaţă,Shahzad Uddin
Countries in vital and jap Europe (CEE), such a lot of them former elements of the communist bloc, have suffered diversified impacts over the years. traditionally, the appearance of communism within the Nineteen Fifties has stopped the industrial and political improvement of those international locations. Its fall throughout the past due Eighties and early Nineteen Nineties caused serious adjustments within the fiscal and social surroundings, with profound effects at the international locations' accounting and company versions. The accounting regulatory means of those nations has in general been a public one, even though a few nations additionally concerned deepest region our bodies. With financial and political reforms those international locations at the moment are reforming their accounting platforms with for instance the adoption of foreign Accounting Standards/International monetary Reporting criteria (IFRS). also, the CEE international locations' political will to affix the eu Union pressured the regulators to make sure a excessive point of harmonization with the European...
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Additional resources for Accounting in Central and Eastern Europe
Additionally, the countries’ political will to join the European Union (EU) compelled the national regulators to ensure a high level of harmonisation with the European Directives even before these countries joined the EU, and concluded with their enactment subsequently (for the ones that in the end became full members). Also, CEE economies do not make exception to findings in other emerging economies: a lower level of development of the accounting profession, lower focus on professional judgment, and lesser quality of financial reporting, than in more developed countries.
The second chapter in the issue is Garanina and Kormiltseva (2013), the second empirical chapter selected. The chapter investigates the effect of IFRS adoption on the value relevance of financial reporting in Russia. The authors do not find any evidence of increased value relevance to external users of financial information after IFRS adoption when comparing and evaluating the Russian Accounting Standards and IFRS, across the entire population of firms listed on the Russian financial market. The authors explain this finding by the so-called mock compliance with IFRS undergoing in their sample firms.
2008). This fact suggests that the results found for large firms and low leverage firms are even stronger if we exclude the voluntary adopters. Therefore, the results of firm characteristics are robust to the preference of early IFRS adoption. Table 5. Mean Values of LNASSETS and LEVERAGE for Voluntary and Mandatory IFRS Adopters. CONCLUSIONS AND DISCUSSION The purpose of the study is to present evidence on the IFRS adoption and earnings quality relationship on an emerging country context focusing on firm characteristics.