The influence of culture on disclosures in financial statements prepared under International Financial Reporting Standards
Journal Title: Zeszyty Teoretyczne Rachunkowości - Year 2019, Vol 2019, Issue 101
Abstract
The primary objective of this article is to investigate the impact of culture (as measured by Hofstede) on disclosures in financial statements prepared under International Financial Reporting Standards (IFRS) by firms from different countries. The sample comprises 2011−2013 consolidated financial statements of stock companies (excluding banks, insurance, and other financial institutions) from four countries repre- senting different cultural areas: the United Kingdom (Anglo), Germany (Germanic), Poland (Central Eastern Europe; CEE) and Kuwait (Arab). The research material came from 312 annual consolidated financial statements from 104 companies. The results reveal that cultural values have a significant impact on financial disclosures even after the use of IFRS. The paper is one of the few comparative studies attempting to assess the effects of culture on financial disclosures in Western Europe countries, CEE countries and Arab countries. Most of the international comparative studies in this research area have neglected CEE and Arab countries.<br/><br/>
Authors and Affiliations
Jerzy Gierusz, Katarzyna Koleśnik
Keywords
Related Articles
- EP ID EP518545
- DOI 10.5604/01.3001.0013.0758
- Views 87
- Downloads 0
Costs and determinants of XBRL implementation as a standard for financial reporting on capital markets
The purpose of this article is to identify the costs and determinants of implementing XBRL as a standard for financial reporting on capital markets. The results of empirical research as well as statements, reports, consu...
The distinguishing features of management commentary in the context of financial statements
The aim of the paper is to highlight the distinguishing features of management commentary in com-parison to financial statements. Financial statements contains description of financial position and performance of reporti...
Pomiar jakości sprawozdawczości finansowej w badaniach dotyczących rad dyrektorów i komitetów audytu. Przegląd systematyczny
Pomiar jakości sprawozdawczości finansowej sprawia problemy, ponieważ sprawozdawczość finansowa jest trudna do zaobserwowania i zmierzenia. Celem artykułu jest przedstawienie metod pomiaru jakości sprawozdawczości finans...
Wprowadzenie standardu MSSF 16 oraz jego przewidywany wpływ na sytuację majątkową i finansową spółek notowanych na GPW
MSSF<br/><br/>Celem niniejszego artykułu jest próba udzielenia odpowiedzi na pytanie, jakie są przewidywane zmiany średnich wartości EBITDA, dźwigni finansowej i sumy bilansowej, które będą miały miejsce po wpro- wadzeni...
Accounting ethics – a discussion paper
The article examines the functioning of the accounting system in an enterprise from the ethical perspective. It offers an overview of opinions published by some accounting theorists. The study corresponds to the structur...