Implementation of IAS/IFRS and Their Impact on Selected Financial Performance Indicators
Implementation of IAS/IFRS and Their Impact on Selected Financial Performance Indicators

Author(s): Jozef Lukáč
Subject(s): Business Economy / Management, Accounting - Business Administration
Published by: Masarykova univerzita nakladatelství
Keywords: International Financial Reporting Standards; IAS; IFRS; financial performance; financial indicators;
Summary/Abstract: International harmonization is the result of the gradual alignment of the individual accounting principles within the regional representation of states with their own system and habits, while the regional (territorial) groups rank continental, South American, Anglo-Saxon and mixed among these bases. From the point of view of the Slovak Republic, together with the countries of the former Eastern Bloc and the countries of the Visegrad Group (with the exception of the Czech Republic), the Slovak Republic is one of the countries with a mixed accounting system. The European Union countries themselves use more than 25 different accounting systems. The aim of the paper is to point out the research carried out in the area of measuring the financial performance of enterprises in the transition from national accounting legislation to the system of international financial reporting standards. The objective of the paper is also to compare financial indicators in 8 financial statements before and after the adoption of IAS/IFRS.

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