CHAPTER 2

Electronic International Financial Reporting Standards

International competition has forced many firms to look to new markets to remain competitive. Increasingly internationalized capital markets result in a need for internationally comparable financial statements and accounting standards, thereby leading to efforts during the past decade to move nations toward using international standards. The movement toward harmonization and convergence1 has included the activities of supranational groups and individual scholars. Figures 2.12 and 2.23 depict the global and U.S. International Financial Reporting Standards (IFRS) convergence efforts in recent years, respectively.

Research on accounting issues is conducted in a dynamic international environment. New professional standards are constantly issued. The updating of existing standards influenced by various constituents helps to minimize the differences across national boundaries. This chapter examines research in electronic IFRS (eIFRS).

IFRS RESEARCH

International accounting research takes place in a complex environment with numerous accounting standards, rules, and recommended practices. This chapter focuses solely on IFRS research. A sound understanding of the IFRS hierarchy and the eIFRS database is needed. The eIFRS database enables researchers to obtain authoritative evidence to help answer their research questions more efficiently than using bound books.

IFRS HIERARCHY

The International Accounting Standards Board ...

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