The transition to international financial reporting standards in Spain: relevance and timeliness of adjustments
Since 2005, firms listed on any European stock market have been required to prepare mandatory consolidated financial statements under International Financial Reporting Standards (IFRS). Those groups that adopted IFRS in 2005 were required to present their financial statements at 31 December 2004 under both local accounting rules and international standards, creating two sets of accounts referring to the same activity but using different measurement systems. Our sample consists of listed Spanish firms applying IFRS for the first time. This study focuses on the value relevance and timeliness of the mandatory IFRS adjustments and reconciliations required in the transition from Spanish accounting principles to international standards. Our results indicate that only equity adjustments were relevant to the market, and that this information was included in prices when the reconciliation was published and not before.
If 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.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 7 (2011)
Issue (Month): 4 ()
|Contact details of provider:|| Web page: http://www.inderscience.com/browse/index.php?journalID=41|
When requesting a correction, please mention this item's handle: RePEc:ids:ijaape:v:7:y:2011:i:4:p:287-302. See general 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: (Graham Langley)
If references are entirely missing, you can add them using this form.