International Differences in Accounting Practices Under IFRS and the Influence of the US

• Type: Article in International Scientific Journal
• Date: 2018

Authors

Lourenco, IC (Author) Other; Sarquis, R (Author) Other; Manuel Castelo Branco (Author) FEP; Magro, N (Author) Other

Journal

Title: Australian Accounting Review

Vol. 28

Pages: 468-481

ISSN: 1035-6908

Publisher: Wiley-Blackwell

Indexing

ISI Web of Knowledge - 6 Citations

Scopus - 11 Citations

Other information

Authenticus ID: P-00P-YSV

DOI: 10.1111/auar.12207

Abstract (EN): This paper expands prior International Financial Reporting Standards (IFRS) accounting systems' classifications to a broader set of 27 countries where IFRS adoption is a widespread practice, as well as the US. It examines the issue of whether a US model of accounting that includes countries which have adopted IFRS exists. The results suggest a classification distinguishing between three groups of countries based on the similarity of their accounting practices: 1) Australia and New Zealand; 2) US-influenced countries; and 3) South Africa, Oman and European countries. This study contributes to the literature not only by providing evidence of differences in accounting practices to a broader set of countries, but mainly by suggesting an economic explanation of the existence of accounting choices. In particular, economic proximity to the US may be an important factor influencing accounting practices in some countries, even after IFRS adoption.

Language: English

Type (Professor's evaluation): Scientific

No. of pages: 14