Iranian GAAP and IFRS: The history and current status of IAS/IFRS convergence process in Iran
Journal Title: International Journal of Finance and Managerial Accounting - Year 2016, Vol 1, Issue 3
Abstract
This study attempts to compare and highlight the major differences between International Accounting Standards (IAS) and International Financial Reporting Standards (IFRS) with National Accounting Standards (NAS) in one of the developing nations, Iran. Over the past two decades, the Iranian accounting standards setter, Audit Organization, has decided to eliminate the differences between IFRS and NAS as a part of its convergence and harmonization project. In 2011, the Audit Organization decided that IFRS implementation would be permitted for all listed companies. The primary purpose of implementing IFRS is to enhance the international comparability of financial reports, which would attract more foreign investors to participate in the Iranian capital market, improve the efficient allocation of resources and boost the competitiveness of the market. In spite of her announcement, Iran has not supported IFRS. The purpose of this paper is to provide possible reasons for non-adoption by highlighting some important socioeconomic factors that are likely to influence the accounting environment in Iran. The main question we try to answer in this study is: to what extent is Iranian GAAP congruous with IFRS?
Authors and Affiliations
Amin Rostami, Gholamreza Pakdel, Sadegh Hasanzadeh Kojou, Mahmoud Hasanzadeh Kochou
Keywords
Related Articles
- EP ID EP541135
- DOI -
- Views 89
- Downloads 0
A Review of Mutual Investment Funds Performance with a View of Market Timing
Appropriate function of active management in common investment funds function depend on factors such as diversification, identification papers unrealistic pricing, market timing, and so on. Market timing are include chan...
Examining the Moderating Effect of Industry Competition on Relationship between Privatization, Financial Performance and Using of Management Accounting Tools in TSE
In many countries, particularly developing countries, economic reforms, especially privatization, are considered as a strategic approach. The growth of the government decreases the competition in the market, and so, some...
A Comparative Study of the Relationship between Real Earnings Management and Earnings Management Based on Accruals to Achieve an Average Profitability
This research aimed to study the behavior of real earnings management and earnings management based on accruals to achieve an average profitability of listed companies in Tehran Stock Exchange. In this study, we focus on...
Combination of DEA and ANP-QUALIFLEX Methods to determine the most Efficient Portfolio (Case study: Tehran Stock Exchange)
The existence of an active and prosperous capital market is always recognized as one of the signs of international development in the countries. The most important issue faced by investors in these markets is the decisio...
Investigating the Risk of Paying Loans to Public and Private Companies Using the Logit Model and Comparing it with Altman Z (Case Study: A Private Bank in Iran)
The design of a credit risk measurement model in the monetary and banking system will play an important role in increasing the profitability of banking resources. This article attempts to use two models of Logit and Z Al...