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Impact of the new International Accounting Standards on the financial statements

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  • Christian Aubin
  • Gérard Gil

Abstract

[eng] The new accounting principles adopted by the IASB will lead to the introduction of increased volatility in the profit and loss account and in the shareholder's equity of banks. The presentation of the net result and of the variations in equity not coming from shareholders' operations in the same profit and loss schedule will also increase this phenomena and will reduce the visibility in terms of understanding the performance of the various activities of the enterprise. This evolution will not enhance the comparability between the financial statements of banks nor the pertinence of the financial information. The principles adopted regarding the valuation of financial instruments are to the detriment of the stability of the results and the principle of prudence, favouring instantaneous valuation without improving the conditions for neither financial information preparation nor the quality of such information. These principles will in no doubt have an influence on how banks manage their interest rate exposure leading to a process of reduction of risks. . JEL classifications : G21, M41

Suggested Citation

  • Christian Aubin & Gérard Gil, 2003. "Impact of the new International Accounting Standards on the financial statements," Revue d'Économie Financière, Programme National Persée, vol. 71(2), pages 83-91.
    • Handle: RePEc:prs:recofi:ecofi_1767-4603_2003_num_71_2_4748
    DOI: 10.3406/ecofi.2003.4748
    Note: DOI:10.3406/ecofi.2003.4748
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    More about this item

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

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