Exploratory Evidence for the Adoption of the Ias 7 in Turkey
This paper examines the adoption of the International Accounting Standard No 7 (IAS 7) “Cash Flow Statements (CFS)” of the International Accounting Standards Board (IASB) by the listed companies in the Istanbul Stock Exchange (ISE) in Turkey. The purpose of this study is to provide brief information about the history and background of the adoption or harmonization of the global financial reporting standards, to explore the degree of homogeneity in choosing among different options permitted by the IAS 7 and the degree of compliance with it. In order to achieve this purpose, an exploratory study was developed and conducted by analyzing financial statements of 17 non-financial firms of ISE top 30 from the year of 2007 to 2009. The findings of the study have shown a significant heterogeneity and non-compliance in applying the IAS 7 in Turkey. The high degree of heterogeneity may dismiss the comparability of financial statements across entities, requiring further efforts by the IASB to reduce options permitted in its standards. The high degree of non-compliance may create the risk of misleading financial information users who might have expected that the audited financial statements they have been prepared according to the IASB standards.
|Date of creation:||2010|
|Date of revision:|
|Contact details of provider:|| Postal: Ludwigstraße 33, D-80539 Munich, Germany|
Web page: https://mpra.ub.uni-muenchen.de
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Street, Donna L. & Gray, Sidney J. & Bryant, Stephanie M., 1999. "Acceptance and Observance of International Accounting Standards: An Empirical Study of Companies Claiming to Comply with IASs," The International Journal of Accounting, Elsevier, vol. 34(1), pages 11-48.
- Wallace, R. S. Olusegun & Choudhury, Mohammed S. I. & Adhikari, Ajay, 1999. "The Comprehensiveness of Cash Flow Reporting in the United Kingdom: Some Characteristics and Firm-specific Determinants," The International Journal of Accounting, Elsevier, vol. 34(3), pages 311-347, 08.
- Wallace, R. S. Olusegun & Choudhury, Mohammed S. I. & Pendlebury, Maurice, 1997. "Cash flow statements: An international comparison of regulatory positions," The International Journal of Accounting, Elsevier, vol. 32(1), pages 1-22.
When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:29993. 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: (Joachim Winter)
If references are entirely missing, you can add them using this form.