IFRS Adoption in Europe: the Case of Germany
AbstractFrom 2005 onwards, consolidated financial statements of listed European companies will have to comply with IFRS (IAS). Many German companies began adopting those standards in the 1990s, on a voluntary basis, because of their need to access international capital funding. Spanish companies, by contrast, are not permitted to adopt IFRS before 2005. This paper has two purposes: first, it analyses the financial impact of initial IFRS adoption on the statement of changes in equity and the income statement of individual German companies. Second, and taking into account the German experience, it focuses on the expected impacts on a sample of listed Spanish companies in two industrial sectors: chemical-pharmaceutical and fashion. Our analysis of German companies comprised all non-financial DAX groups applying IFRS plus additional listed companies in the two selected industrial sectors identified above. The impact of initial adoption of IFRS on German companies was, both individually and overall, very significant. The analysis suggests that the expected impact on Spanish companies is likely to be significant but to a lesser degree than in respect of the German companies in the study.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by Department of Business Economics, Universitat Autonoma de Barcelona in its series Working Paper with number 200501.
Date of creation: Feb 2005
Date of revision:
Contact details of provider:
Postal: 08193 Bellaterra (Cerdanyola del Vallès)
Phone: 34 93 581 1209
Fax: 34 93 581 2555
Web page: http://webs2002.uab.es/dep-economia-empresa/
More information through EDIRC
IFRS adoption; Germany; Spain; IFRS adjustments; chemical-pharmaceutical sector; fashion sector;
This paper has been announced in the following NEP Reports:
- NEP-ACC-2006-11-18 (Accounting & Auditing)
- NEP-ALL-2006-11-18 (All new papers)
- NEP-EEC-2006-11-18 (European Economics)
- NEP-INO-2006-11-18 (Innovation)
You can help add them by filling out this form.
reading list or among the top items on IDEAS.Access and download statisticsgeneral information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Armando Lloro Ayuso) The email address of this maintainer does not seem to be valid anymore. Please ask Armando Lloro Ayuso to update the entry or send us the correct address.
If references are entirely missing, you can add them using this form.