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De facto or de jure harmonisation: how much dis(harmonised) are the entities in an IFRS environment?
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Authors
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Abstract(s)
This paper uses exploratory analysis to seek evidence of accounting practices in a harmonized environment that mitigates the comparability of financial reporting by selecting an exemplary topic from different cases. The topics include the treatment given by entities to those cases not prescribed in the standards, but traditionally used by entities, cases prescribed by standards, but in a way that is not specific or clear enough, and, finally, cases where standards allow alternative accounting treatments. The consolidated reports and accounts of the entities included in the main Euronext Lisbon index for the years 2019 and 2020 were assessed. It was found that the accounting practices adopted by the entities are diverse, with different implications within the options that are reflected in the recognition and presentation of expenses and incomes. This type of research allows broadening the discussion around the implementation of effective measures to reduce the subjectivity associated with the adoption and application of standards to reach higher levels of de facto harmonisation or convergence. It is expected that the proposed analysis can contribute to drawing the attention of standard-setters and regulators of financial reporting to the potential constraints associated with the high flexibility of, or gaps in, International Financial Reporting Standards.
Description
Keywords
Accounting practices Harmonisation IFRS Listed entities PSI 20
Citation
Albuquerque, F., Gomes dos Santos, P. De facto or de jure Harmonisation: How Much Dis(harmonised) Are the Entities in an IFRS Environment?. 4th International Conference on Finance, Economics, Management and IT Business, 2022, Online. Proceedings of the 4th International Conference on Finance, Economics, Management and IT Business, 2022. https://www.scitepress.org/Papers/2022/110546/110546.pdf
Publisher
SCITEPRESS - Science and Technology Publications