Research on the quality of accounting information impact of International Financial Reporting Standards

Abstract

The quality of accounting information that emerges has major economic consequences for many users of the accounting information often depend on the accuracy and the quality of the process. This is because the quality of accounting information influences many business decisions such as the capital cost, efficiency of resources allocation, and the mobility of the international capital. This study seeks to establish the impacts of International Financial Reporting Standards on the quality of accounting information.

This study will use a multi-method research strategy to support the exploratory and descriptive nature of the research to gain a deeper understanding of what accounting standards quality mean for accountants and managers in the SME sector in China and translate this to the rest of the world where adoption of IFRS has not been completely convergent to the national standards and GAAP.

There is an indication that the quality of financial information is affected by financial reporting standards. It is evident that IFRS implementation consequently reduces earning manipulation and intentional erroneous reposting which greatly helps most organizations, businesses, and institutions to remain reputable and able to attract investors based on the trust. Additionally, the quality of financial reporting reportedly increases the ability and willingness of investors and donors to engage in investments and activities that are beneficial to the global market and individual countries, therefore, empirically; this study shows that the quality accounting information is affected by financial reporting standards which are in line with other previous studies.

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