Encyclopedia of International Accounting

Edited by Parmod Chand, Associate Professor of Accounting, Department of Accounting and Corporate Governance, Macquarie University, Australia

‘This Encyclopedia will be a useful guide for both accounting professionals and research students. It reviews the accounting standards, including ethics and auditing. It is especially valuable as a guide to the theories used to understand accounting issues, and as an introduction to international accounting research.’

• ContentsPreface viiiAcknowledgements xPART I CONCEPTS AND DEFINITION 1 International accounting 2Hector Perera2 International convergence of financial reporting 7Parmod Chand3 International ethical standards in accounting 14Nam The Nguyen4 International Financial Reporting Standards (IFRS) 21Rajni Mala5 International Financial Reporting Standards (IFRS) for small and medium-sized enterprises 27Dinuja Perera6 International issues in auditing 37Vida Botes7 International issues in corporate governance 44Zhuoan Feng8 International issues in managing multinational corporations 51Rakesh Pandey and Mansi Mansi9 International sustainability reporting 58Sumit K. Lodhia10 Prominent ethical issues in international accounting and business 64Mary Low and Nirupika LiyanapathiranaPART II THEORIES AND RESEARCH METHODS 1 Accounting systems 75Kanwal Javed2 Conceptual framework 81Kanwal Javed3 Theories of accounting regulation 87Krishan Prasad4 Advancing qualitative research in international accounting 95Dale Tweedie5 Trends of quantitative research in international accounting 101Parmod Chand and Rajni MalaPART III INTERNATIONAL ACCOUNTING ISSUES 1 Benefits and costs of International Financial Reporting Standards (IFRS) implementation 112Mohammad Abu Taleb and Afzalur Rashid2 Information technology 117Mohammad Abu Taleb and Afzalur Rashid3 International Financial Reporting Standards (IFRS) implementation: institutional arrangements 126Mohammad Abu Taleb and Afzalur Rashid4 Integrated reporting 138Pei-Chi Kelly Hsiao PART IV INSTITUTIONS 1 Institutions 147 Umesh Sharma International Accounting Standards Board 147 International Federation of Accountants 147 International Monetary Fund 148 International Organization of Securities Commissions 149 International Sustainability Standards Board 151 World Trade Organization 151 World’s Largest Public Accounting Firms (Big 4) 153 PART V FACTORS AFFECTING INTERNATIONAL ACCOUNTING PRACTICES 1 Factors affecting international accounting practices 159 Noriyuki Tsunogaya Culture 159 Education level 161 Inflation 161 Legal system 162 Level of economic development and capital markets 162 Political and economic ties 163 Religion 163 Sources of finance 164 Status of the accounting profession 165 Taxation 165 PART VI INTERNATIONAL ACCOUNTING PRACTICES ACROSS THE GLOBE 1 The International Financial Reporting Standards Foundation 168 Md Mustafizur Rahaman 2 International accounting practices across the countries in Europe 169 Md Mustafizur Rahaman 3 International accounting practices across the countries in Africa 209 Md Mustafizur Rahaman 4 International accounting practices across the countries in the Middle East 239 Md Mustafizur Rahaman 5 International accounting practices across the countries in Asia and Oceania 250 Md Mustafizur Rahaman 6 International accounting practices across the countries in the Americas 283 Md Mustafizur Rahaman Index 312