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Shortcomings of performance reporting under IAS/IFRS: a conceptual and empirical study

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  • Axel Haller
  • Maria Schloßgangl
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    Abstract

    According to the Framework of the IASB, profit is a frequently used measure of an entity's performance. Yet in developing its standards, the IASB has not paid much attention to the presentation of profit, but primarily concentrated on recognition and measurement requirements. As a consequence, the International (Accounting) Financial Reporting Standards (IAS/IFRS) do not provide a sound conceptual basis for the presentation of income and expenses. The aim of this paper is to analyse the extent to which these shortcomings in current IAS/IFRS are likely to reduce or impair the relevance and comparability of financial statements. It empirically investigates income statements and statements of changes in equity of German and Austrian listed companies applying IAS/IFRS. The results of the study support heavily the current effort of the IASB to develop a new format for the presentation of financial performance.

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    Bibliographic Info

    Article provided by Inderscience Enterprises Ltd in its journal Int. J. of Accounting, Auditing and Performance Evaluation.

    Volume (Year): 2 (2005)
    Issue (Month): 3 ()
    Pages: 281-299

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    Handle: RePEc:ids:ijaape:v:2:y:2005:i:3:p:281-299

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    Web page: http://www.inderscience.com/browse/index.php?journalID=41

    Related research

    Keywords: IAS/IFRS; financial performance reporting; comprehensive income; income statement; statement of changes; equity; Austria; Germany; International Accounting Standards; International Financial Reporting Standards.;

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