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Title: | Impact of IFRS on Financial Statements in Greece: Application in a Multinational Company |
Other Titles: | Αντίκτυπος των ΔΠΧΠ στις Χρηματοοικονομικές Καταστάσεις στην Ελλάδα: Εφαρμογή σε Πολυεθνική Εταιρεία |
Authors: | Dimitriou, Maria Stavropoulos, Antonis |
Type: | Conference Paper |
Subjects: | FRASCATI::Social sciences::Economics and Business::Accounting FRASCATI::Social sciences::Economics and Business::Finance |
Issue Date: | Dec-2014 |
Publisher: | Hellenic Finance and Accounting Association |
Volume Title: | 13th Annual Conference of the Hellenic Finance and Accounting Association |
Abstract: | In this paper, we focused on the process of international harmonization with particular reference to the adoption of International Financial Reporting Standards (IFRS) in listed and unlisted firms in Greece. To do this, the paper is based on the data obtained from the literature survey and archival sources in the context of IFRS’s adoption worldwide mainly from the organization itself. We introduce the background of IFRS, the benefits, its goals and then we explore the fundamental differences between IFRS and Greek GAAP (find financial statements prepared according to Greek GAAP, converted to IFRS, compare them, find cash flows). Additionally, we go into a few of the major changes that occur within the various financial statements when converting to IFRS from Greek GAAP. As the statement of cash flows is an extra regulation for Greek GAAP, we give an example of this statement and its usefulness in a Greek multinational company. Concerning that, it is apparent that IAS 7/IFRS improves the relevance, and thereby, the quality, or at least some reported numbers. Greece has adopted IFRS in order to participate in the benefits it offers. In the end, the paper highlights the most important aspects of the paper. |
URI: | http://www.hfaa.gr/?p=1310,http://www.uom.gr/modules.php?op=modload&name=News&file=article&sid=6485&tmima=1&categorymenu=7 https://ruomo.lib.uom.gr/handle/7000/485 |
Appears in Collections: | Department of Applied Informatics |
Files in This Item:
File | Description | Size | Format | |
---|---|---|---|---|
Maria Dimitriou, and Antonios Stavropoulos, Postprint of 13th HFAA 2014_3.pdf | 454,21 kB | Adobe PDF | View/Open | |
Maria Dimitriou, and Antonios Stavropoulos 13th Annual HFAA 2014_3 APPENDIX 1 - Lists.pdf | 110,09 kB | Adobe PDF | View/Open | |
Maria Dimitriou, and Antonios Stavropoulos 13th Annual HFAA 2014_3 APPENDIX 2 - Financial statements.pdf | 366,11 kB | Adobe PDF | View/Open |
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