The Possible Challenges of Adoption of International Financial Reporting Standards: A Qualitative Meta-analysis Approach
Abebe Gibru,
Mezgebu Aynalem
Issue:
Volume 8, Issue 6, December 2019
Pages:
86-93
Received:
9 September 2019
Accepted:
29 October 2019
Published:
6 January 2020
Abstract: Currently, International Financial Reporting Standards (IFRS) have been adopted by over 143 countries all over the world. The aims of this standard is to develop, in the public interest, a single set of high-quality, comprehensible, enforceable and globally accepted financial reporting standards based on clearly expressed principles and legislations. Nevertheless, its adoption procedure creates challenges to the adopter. Thus, the purpose of this study was to investigate the possible challenges of adoption of international financial reporting standards (IFRS). A sample of fifteen studies and articles related to challenge of International Financial Reporting Standards adoption that had been done starting from 2012 were selected from journal articles; Master of Science thesis (MSC) and master of business administration (MBA) thesis, then the collected data were analyzed using qualitative meta- synthesis which is presented using tables and narratives. The study found out that cost of adoption, training of relevant accounting professional, lack of competent man power, lack of proper financial reporting guidance, use of fair value accounting in comparison to historical cost method, Lack of proper instructions from regulatory bodies, increases the risk for handling in interpretation of financial statements and modernized information technology system in handling the transitions to standard were the main challenges of International Financial Reporting Standards adoption.
Abstract: Currently, International Financial Reporting Standards (IFRS) have been adopted by over 143 countries all over the world. The aims of this standard is to develop, in the public interest, a single set of high-quality, comprehensible, enforceable and globally accepted financial reporting standards based on clearly expressed principles and legislation...
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Rural Collective Economy, Township Planning and the Rural Revitalization Strategy -- Case Study for the Suburbs of Beijing City
Issue:
Volume 8, Issue 6, December 2019
Pages:
94-108
Received:
1 February 2019
Accepted:
5 May 2019
Published:
9 January 2020
Abstract: This paper explains the regularity of the evolution of rural collective economic system and the historical position of Township Planning as a new stage of rural economic system reform after the dual-level management system and people's communes. Accordingly puts forward that the reform of overall planning of villages and towns is the only way to implement the strategy of rural revitalization. That is to say, the development space of village self-help competitive system is already very limited. The joint venture among village-level collective economic organizations will reconnect the fragmented land property rights, realize the centralized and optimized allocation of land resources, and promote the balanced and coordinated development of urban and rural areas and regions. The overarching principles for Township Planning has been elaborated, mainly include establishment of township-level cooperatives, spatial planning adjustment and layout optimization, property rights certification and development of diverse market entities, bank loans and private capital, optimization and standardization of quotas, equal rights to land and balanced development, industrial upgrading. The implementation measures and supporting policies and mechanisms are analyzed and combed, mainly includes intensive use of collective construction land, establishment of a modern industrial organization system for agricultural activities, and establishment a District-level Rural Collective Assets Supervision Commission. The above methods are known as the "three strategies for Township Planning." From the perspective of urbanization, the overall planning of towns and townships is transformed from urbanization mode driven by big cities to local urbanization.
Abstract: This paper explains the regularity of the evolution of rural collective economic system and the historical position of Township Planning as a new stage of rural economic system reform after the dual-level management system and people's communes. Accordingly puts forward that the reform of overall planning of villages and towns is the only way to im...
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