Cross-Country Analysis of the Impact of Financial Systems on the Accounting Framework

Authors

  • Ioseb Mamukelashvili

DOI:

https://doi.org/10.62343/cjss.2013.124

Keywords:

IFRS Adoption, Rose Revolution, Tax Reforms, Banking Sector Reforms, Audit Activity Council

Abstract

Implementing one set of accounting standards worldwide is challenging
because accounting and regulatory frameworks must reflect
market dynamics of each country in the world. While the
adoption of International Financial Reporting Standards (IFRS) in
Georgia and the convergence to IFRS in China were successful in
benefiting the banking sectors of those countries, the IFRS adoption
promoted earnings management in Hong Kong. The fact that
the IFRS was only successful in Georgia and China, where financial
markets are not as developed as they are in Hong Kong, raises concerns
about the effectiveness of the IFRS in the United States.

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Published

31.12.2013

How to Cite

Mamukelashvili, I. (2013). Cross-Country Analysis of the Impact of Financial Systems on the Accounting Framework. Caucasus Journal of Social Sciences, 6(1), 92–106. https://doi.org/10.62343/cjss.2013.124

Issue

Vol. 6 No. 1 (2013)

Section

Research papers

License

Copyright (c) 2023 Ioseb Mamukelashvili

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