Clusters Describing IFRS Adoption Stage
Clusters Describing IFRS Adoption Stage

Summary/Abstract: Financial statements are essential on capital investment decision, especially in the new context of a globalized world, increasing international capital market listing, or amplified commercial relation among national economies. The quality of financial information is the basic source of information on decision-making process. Consequently, all players have to cooperate in order to reduce international accounting differences and improve the accounting practices on the way of a more reliable and value relevant information. Our study aim to analyze the closeness of different IFRS adoption strategies, by creating four clusters, based on the level of IFRS adoption referring to consolidated financial statements, individual financial statements and simplified financial statements accounting regulation. The results reveal small differences between the clusters determined, leading to a promising future of the recent IASB projects of continuous improvement of existing standards and for new standards.

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