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Title: What is the importance of financial reporting from Local GAAP to IFRS for companies, and how can the accounting treatment influence this factor within firms’ valuation concept?
Other Titles: Ποια είναι η σημασία της χρηματοοικονομικής πληροφόρησης από τις Τοπικές ΓΠΛΑ στα ΔΠΧΠ για τις εταιρείες, και πώς μπορεί η λογιστική αντιμετώπιση να επηρεάσει αυτόν τον παράγοντα στην έννοια της εταιρικής αποτίμησης;
Authors: Dimitriou, Maria
Chairs: Martínez-Solano, Pedro
Forte, Santiago
Type: Article
Subjects: FRASCATI::Social sciences
Keywords: Accounting Treatment
High-Quality Global Standards
Financial Reporting in Regulated markets
Modern Capital Markets
Food & Beverages Industry
Hellenic Exchanges - Athens Stock Exchange S.A.
Multinational Company
Issue Date: Jun-2020
Publisher: Multinational Finance Society - C/O Global Business Publications
Source: Multinational Finance Conference Booklet
Volume: 27
First Page: 25
Last Page: 25
Volume Title: 27th Annual Virtual Conference of the Multinational Finance Society, June 28-29, 2020
Part of Series: Capital Structure
Part of Series: Capital Structure
Abstract: The paper focuses on the accounting treatment under local GAAP and IAS/IFRS and the concepts of companies that are “implementing IFRS” or those “intending to implement IAS/IFRS” with a focus on companies in the food & beverages industry: alcohol-free beverage sector in Greece and worldwide. Financial statements under IFRS are designed to meet the common needs of a wide range of users. Thus, the need to adopt common rules in the preparation and presentation of financial statements becomes imperative, as the advantages are many in comparison with the local GAAP primarily for listed companies and as an alternative for non-listed companies only if they plan to go list. It highlights future developments and challenges (IFRS for SMEs, New Greek Accounting Standards) that could impact on accounting in the industry, mainly SMEs, in the years to come and it puts things in perspective. The results may help to improve the understanding of IFRS adoption success and quality, focusing on listed companies in the Athens Stock Exchange. The findings also suggest that assessing the firm’s financial performance through its financial statements under IFRS is a crucial stage in the financial information used to generate valuations and stock recommendations.
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