Ifrs Adoption in Spain and the United Kingdom: Effects on Accounting Numbers and Relevance

Tutorial questions for Topic 6 Reading exercise Read Gaston et al (2010) commodity “IFRS acceptance in Spain and the United Kingdom: Effects on accounting numbers and relevance” and acquisition out the acknowledgment for the afterward questions: Q1 What are the analysis objectives? (the aftermost 5 paragraphs of area 1) The capital purpose of this analysis is to analyze and adverse the quantitative appulse of the IFRS acceptance on banking advertisement in Spain and the UK. There are two capital analysis objectives. Aboriginal it explores the bread-and-butter and banking aftereffect of the IFRS acceptance for companies in the two countries. The additional cold is to appraise whether or not the IFRS will advance the account of banking reporting. It is accepted that companies’ bazaar amount and book amount will access beneath the IFRS acceptance in both countries (Gaston et al, 2010). If you use absolute citation instead: The aboriginal cold of our abstraction is to analyse the appulse of IFRS on banking letters issued by companies in Spain and the UK” (Gaston et al, 2010, p306). Q2 What is the analysis sample size? (section 3. 1 in folio 306) 100 companies from the Madrid Stock Exchange General Index (IGBM) and 74 companies from the Banking Time Stock Exchange Index 100 (FTSE 100) (excluding banking institutions, captivation companies and allowance firms) are acclimated for this research. Q3 How abounding hypotheses are proposed, and what are they? (section 3. 3, p306-308) There are three hypotheses are proposed in this abstraction and they are: “H01: There are no cogent differences in the amount of accounting abstracts and banking ratios bent beneath bounded GAAP and IFRS” “H02: There are no cogent differences in the about appulse of IFRS on the amount of accounting abstracts and banking ratios in the UK and Spain” “H03: There are no cogent differences in the book ethics (per bounded GAAP and IFRS) and bazaar amount of firms” “H04: There are no cogent differences in the Gap(spainlocal), Gap(uklocal) and Gap(spainifrs), Gap(ukifrs) (Gaston et al, 2010, p307). Q4 What are the analysis findings? (section 5, folio 312) “H01: There are no cogent differences in the amount of accounting abstracts and banking ratios bent beneath bounded GAAP and IFRS” H01 is alone (not true) in both Spanish and British companies because: After IFRS adoption, Spanish firms assuming (p308): Increases in anchored and absolute assets, abiding liabilities, concise liabilities and indebtedness. Decreases in accepted assets, accepted arrangement and solvency After IFRS adoption, UK firms assuming (p309): Increases in anchored and absolute assets, abiding liabilities, concise liabilities, operating income, net income, acknowledgment and acknowledgment on equity. Decreases in accepted assets, disinterestedness and solvency H02: There are no cogent differences in the about appulse of IFRS on the amount of accounting abstracts and banking ratios in the UK and Spain” H02 is alone (not true) in both Spanish and British companies because: “the about appulse of IFRS has been statistically altered in Spain and the UK on anchored assets, accepted assets, abiding and concise liabilities, operating and net income, solvency, indebtedness, acknowledgment on assets and acknowledgment on disinterestedness (Table 8, p309) H03: There are no cogent differences in the book ethics (per bounded GAAP and IFRS) and bazaar amount of firms” H03 is alone (not true) in both Spanish and British companies because “the bazaar amount of firms is statistically altered from the book amount affected with both bounded standards and IFRS” (Table 11, p311). H04: There are no cogent differences in the Gap(spainlocal), Gap(uklocal) and Gap(spainifrs), Gap(ukifrs) H04 is alone (not true) in both Spanish and British companies because there are “significant differences amid accounting and bazaar values… these after-effects are the aforementioned both in Spain and UK, as able-bodied as they administer bounded or all-embracing standards…the bazaar amount is decidedly college than the book amount in all cases” (p312)

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