Effect of IFRS Emphasis on Financial Statements

This study is aimed to determine the Effect of IFRS Emphasis on Financial Statements. Specifically this study seeks to answer the following questions Research Questions The research questions are: a)    Compare the use of IFRS Emphasis and Non IFRS Emphasis on Financial Statement Presentations. There are many similarities between financial statements that prepared using IFRS and financial statements that are not prepared using International Financial Reporting Standards.

Both the financial statements prepared using the International Financial Reporting Standards as well as the non IFRS based reports contains assets, liabilities shareholders’ equity, revenues, expenses and profits. b)    Contrast the use of  IFRS Emphasis and Non IFRS Emphasis on Financial Statement Presentations. There are many differences between financial statements that prepared using IFRS and financial statements that are not prepared using IFRS. Further, IFRS financial statements use fair market value.

IFRS reports are relevant, valid, consistent, material to aid investors to make better inform decisions. CHAPTER I Overview of the Study This study is used to compare and contrast the use of the fair market values and other valuation models in the presentation of financial accounting data. This study focuses on the financial accounting data like the balance sheet, the income statement and statement of cash flows. This study concentrates its main concern on the derivatives market in compliance with International Financial Reporting Standards (Mattli, and Buthe 2005).

Background of the Study There have been many opinions as to which valuation method will be used in the preparation of financial accounting reports. Some companies prefer to the fair market values in the preparing of financial accounting data. This study has been focuses on comparing and contrasting the use of fair market values in order to determine which is more relevant, more reliable and preferable (Bloom 2004). Problem Statement This study is aimed to determine the Effect of IFRS Emphasis on Financial Statements. Specifically this study seeks to answer the following questions

Research Questions The research questions are: c)    Compare the use of IFRS Emphasis and Non IFRS Emphasis on Financial Statement Presentations. d)    Contrast the use of  IFRS Emphasis and Non IFRS Emphasis on Financial Statement Presentations. Purpose of the Study The purpose of the study is to determine whether the use of fair market values in the presentation of financial accounting is preferable when compared to the use of non –fair market value methods. The study will use to compare and contrast two different methods of preparing financial accounting data.

The two methods are the use of fair market values and the  non –use of fair market values in the presentation of financial data. Significance of the Study The significance of the study will be to serve as research material for the investors and other stakeholders of the company Conceptual /Theoretical Framework The theoretical framework adopted for this study may be reflected in this model below. This paradigm was used to determine the Effect of International Financial Reporting Standards on Financial Statements.

This model suggests that success of the presentation of financial statements may be anchored on the how the financial statements are presented. The conceptualization of this study revolved around the notions clearly represented by this model. The paradigm of the study consists of the inputs that focused on the related literature mentioned in the related literature portion of this dissertation. The process consists of comparing and contrasting the two types of financial statements that are issued by companies to their many stakeholders. The output consists of the Results of the Effect of IFRS emphasis on the Financial Statement.