IDEAS home Printed from https://ideas.repec.org/a/prg/jnlcfu/v2014y2014i1id380p50-60.html
   My bibliography  Save this article

The IFRS Adoption and Its Impact on Financial and Management Accounting
[Implementace IFRS a její vliv na vzájemné postavení finančního a manažerského účetnictví]

Author

Listed:
  • David Procházka

Abstract

Traditionally, management and financial accounting were two relatively independent information systems. In the transition countries, financial reporting is heavily influenced by tax legislation, which impairs the usefulness of financial statements for external users. Entities are then forced to remove those lacks in management accounting in a great extent to obtain useful information for the internal decision-making. A separate coexistence of management and financial accounting is then inevitable. The IFRS adoption has increased the quality of financial reporting in transitional countries, despite significant implementation costs. To lower the cost burden, the IFRS are becoming the leading principles of management accounting. The paper assumes that the IFRS may be a special driver for the convergence of financial and management accounting in transitional countries and supports this assumption by empirical questionnaire survey among selected Czech companies.

Suggested Citation

  • David Procházka, 2014. "The IFRS Adoption and Its Impact on Financial and Management Accounting [Implementace IFRS a její vliv na vzájemné postavení finančního a manažerského účetnictví]," Český finanční a účetní časopis, Prague University of Economics and Business, vol. 2014(1), pages 50-60.
    • Handle: RePEc:prg:jnlcfu:v:2014:y:2014:i:1:id:380:p:50-60
    DOI: 10.18267/j.cfuc.380
    as

    Download full text from publisher

    File URL: http://cfuc.vse.cz/doi/10.18267/j.cfuc.380.html
    Download Restriction: free of charge
    File URL: http://cfuc.vse.cz/doi/10.18267/j.cfuc.380.pdf
    Download Restriction: free of charge
    File URL: https://libkey.io/10.18267/j.cfuc.380?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Ittner, Christopher D. & Larcker, David F., 2001. "Assessing empirical research in managerial accounting: a value-based management perspective," Journal of Accounting and Economics, Elsevier, vol. 32(1-3), pages 349-410, December.
    2. Macías, Marta & Muiño, Flora, 2011. "Examining dual accounting systems in Europe," The International Journal of Accounting, Elsevier, vol. 46(1), pages 51-78, March.
    3. T. Colwyn Jones & Robert Luther, 2005. "Anticipating the Impact of IFRS on the Management of German Manufacturing Companies: Some Observations from a British Perspective," Accounting in Europe, Taylor & Francis Journals, vol. 2(1), pages 165-193, January.
    4. David Procházka & Cristina Procházková Ilinitchi, 2011. "The Theoretical Relationships among Foreign Direct Investments, Migration and IFRS Adoption," European Financial and Accounting Journal, Prague University of Economics and Business, vol. 2011(4), pages 85-100.
    5. Isabelle Huault & V. Perret & S. Charreire-Petit, 2007. "Management," Post-Print halshs-00337676, HAL.
    6. Thomas Hemmer & Eva Labro, 2008. "On the Optimal Relation between the Properties of Managerial and Financial Reporting Systems," Journal of Accounting Research, Wiley Blackwell, vol. 46(5), pages 1209-1240, December.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Christian Gross, 2016. "The Effect of the German Accounting Law Modernization Act on the Comparability of Private Local GAAP and IFRS Firms," Schmalenbach Business Review, Springer;Schmalenbach-Gesellschaft, vol. 17(3), pages 423-460, December.
    2. Markus Glaser & Florencio Lopez-De-Silanes & Zacharias Sautner, 2013. "Opening the Black Box: Internal Capital Markets and Managerial Power," Journal of Finance, American Finance Association, vol. 68(4), pages 1577-1631, August.
    3. McSweeney, Brendan, 2009. "The roles of financial asset market failure denial and the economic crisis: Reflections on accounting and financial theories and practices," Accounting, Organizations and Society, Elsevier, vol. 34(6-7), pages 835-848, August.
    4. Sara Trucco, 2016. "Managerial Information and Integrated Accounting Systems. The Perception of Italian Managers," MANAGEMENT CONTROL, FrancoAngeli Editore, vol. 2016(1), pages 91-104.
    5. João Lunkes Rogério & Ripoll Feliu Vicente M. & Silva Da Rosa Fabricia, 2012. "Pesquisa científica em contabilidade gerencial: estudo comparativo entre Espanha e Brasil," Contaduría y Administración, Accounting and Management, vol. 57(2), pages 159-184, abril-jun.
    6. Roychowdhury, Sugata & Shroff, Nemit & Verdi, Rodrigo S., 2019. "The effects of financial reporting and disclosure on corporate investment: A review," Journal of Accounting and Economics, Elsevier, vol. 68(2).
    7. David Procházka, 2017. "The Unintended Consequences of Accounting Harmonization in a Transition Country: A Case Study of Management Accounting of Private Czech Companies," Contemporary Economics, University of Economics and Human Sciences in Warsaw., vol. 11(4), December.
    8. Bernhard Hirsch & Yvonne Schneider, 2010. "Erklärungs- und Gestaltungsbeiträge verhaltenswissenschaftlicher Theorien für eine integrierte Rechnungslegung," Metrika: International Journal for Theoretical and Applied Statistics, Springer, vol. 21(1), pages 7-35, June.
    9. James Breen & Darragh Clancy & Mary Ryan & M. Wallace, 2010. "Can’t See the Wood for the Trees: The Returns to Farm Forestry in Ireland," Working Papers 1003, Rural Economy and Development Programme,Teagasc.
    10. Alan Gregory, 2011. "The Expected Cost of Equity and the Expected Risk Premium in the UK," Review of Behavioral Finance, Emerald Group Publishing Limited, vol. 3(1), pages 1-26, April.
    11. Ana-Maria BERCU, 2014. "Performance Appraisal Of Civil Servants. Sustainability And Development," Proceedings of Administration and Public Management International Conference, Research Centre in Public Administration and Public Services, Bucharest, Romania, vol. 10(1), pages 35-43, June.
    12. Abernethy, Margaret A. & Vagnoni, Emidia, 2004. "Power, organization design and managerial behaviour," Accounting, Organizations and Society, Elsevier, vol. 29(3-4), pages 207-225.
    13. repec:fip:fedhep:y:2013:i:qii:p:30-46:n:vol.37no.2 is not listed on IDEAS
    14. Gedikoglu, Haluk & McCann, Laura M.J. & Artz, Georgeanne M., 2011. "Off-Farm Employment Effects on Adoption of Nutrient Management Practices," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 40(2), pages 1-14, August.
    15. Scherrer-Rathje, Maike & Boyle, Todd A. & Deflorin, Patricia, 2009. "Lean, take two! Reflections from the second attempt at lean implementation," Business Horizons, Elsevier, vol. 52(1), pages 79-88.
    16. Shachmurove, Yochanan & Vulanovic, Milos, 2013. "SPACs in Shipping," EconStor Preprints 88633, ZBW - Leibniz Information Centre for Economics.
    17. Benmelech, Efraim & Dlugosz, Jennifer, 2009. "The alchemy of CDO credit ratings," Journal of Monetary Economics, Elsevier, vol. 56(5), pages 617-634, July.
    18. Farrell, Terence C., 2008. "An Economic Evaluation of Conservation Farming Practices for the Central West of NSW," 2008 Conference (52nd), February 5-8, 2008, Canberra, Australia 6177, Australian Agricultural and Resource Economics Society.
    19. Felipe Jiménez & Wilmar Cabrera-Montiel, 2014. "System for Road Vehicle Energy Optimization Using Real Time Road and Traffic Information," Energies, MDPI, vol. 7(6), pages 1-23, June.
    20. Agata Mesjasz-Lech, 2009. "Selected Problems Of Reverse Logistics In Poland," Advanced Logistic systems, University of Miskolc, Department of Material Handling and Logistics, vol. 3(1), pages 181-190, December.
    21. J�r�me Massiani, Giovanni Santoro, 2012. "The relevance of the concept of capacity for the management of a tourist destination: theory and application to tourism management in Venice," RIEDS - Rivista Italiana di Economia, Demografia e Statistica - The Italian Journal of Economic, Demographic and Statistical Studies, SIEDS Societa' Italiana di Economia Demografia e Statistica, vol. 66(2), pages 141-156.

    More about this item

    Keywords

    International Financial Reporting Standards; Financial Accounting; Management Accounting; Integration of Accounting Systems; Mezinárodní standardy účetního výkaznictví; Finanční účetnictví; Manažerské účetnictví; Integrace účetních modelů;
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:prg:jnlcfu:v:2014:y:2014:i:1:id:380:p:50-60. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Stanislav Vojir (email available below). General contact details of provider: https://edirc.repec.org/data/uevsecz.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.