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Factors influencing true and fair view when preparing financial statements under IFRS: evidence from the Czech Republic

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dc.title Factors influencing true and fair view when preparing financial statements under IFRS: evidence from the Czech Republic en
dc.contributor.author Homola, David
dc.contributor.author Paseková, Marie
dc.relation.ispartof Equilibrium-Quarterly Journal of Economics and Economic Policy
dc.identifier.issn 1689-765X Scopus Sources, Sherpa/RoMEO, JCR
dc.date.issued 2020
utb.relation.volume 15
utb.relation.issue 3
dc.citation.spage 595
dc.citation.epage 611
dc.type article
dc.language.iso en
dc.publisher Inst Economic Research-Poland
dc.identifier.doi 10.24136/eq.2020.026
dc.relation.uri http://economic-research.pl/Journals/index.php/eq/article/view/1812
dc.subject accounting en
dc.subject true and fair view en
dc.subject misstatement en
dc.subject IFRS en
dc.subject financial statements en
dc.description.abstract Research background: Accounting records provide a wide range of data necessary for decisions of the management as well as for users of a company's financial statements. IFRS represents one of the widely accepted accounting principles, often mentioned in relation to the preparation of high-quality financial statements. Purpose of the article: The aim of this paper is to identify the factors contributing to the occurrence of misstatements when preparing financial statements under IFRS. The subsequent goal is to identify the possible influences of such misstatements on the users of the financial statements. Methods: The research itself focuses on perceived problems in IFRS application in the Czech Republic. The total tested population is 193 Czech companies preparing their financial statements under IFRS. Descriptive statistics, the chi-square test of independence along with proportional tests, are used for the statistical data analysis. Findings & Value added: The results indicate that, while misstatements in accounting do not occur regularly, a statistical dependence can be shown between the frequency of misstatements occurrence and the average size of misstatements. The frequency of the subsequently identified misstatements is also proven to be statistically dependent on the average size of misstatements. The IFRS themselves are not proven to influence misstatement occurrences in financial statements, which is in contrast with previous studies. Managerial pressures, similarly to other studies, are proven by the research to be affecting the quality of accounting information. This paper broadens the literature on the factors influencing the quality of financial statements prepared under IFRS and simultaneously reaches conclusions disproving the frequently noted benefits of IFRS implementation. en
utb.faculty Faculty of Management and Economics
dc.identifier.uri http://hdl.handle.net/10563/1010074
utb.identifier.obdid 43881294
utb.identifier.scopus 2-s2.0-85093689602
utb.identifier.wok 000589231500009
utb.source J-wok
dc.date.accessioned 2020-12-09T01:52:48Z
dc.date.available 2020-12-09T01:52:48Z
dc.rights Attribution 4.0 International
dc.rights.uri https://creativecommons.org/licenses/by/4.0/
dc.rights.access openAccess
utb.contributor.internalauthor Homola, David
utb.contributor.internalauthor Paseková, Marie
utb.fulltext.affiliation David Homola Tomas Bata University in Zlín, Czech Republic orcid.org/0000-0001-6791-5094 Marie Paseková Tomas Bata University in Zlín, Czech Republic orcid.org/0000-0001-5400-4099 Contact to corresponding author: homola@utb.cz; Tomas Bata University in Zlín, Faculty of Management and Economics, Mostní 5139, 760 01 Zlín, the Czech Republic
utb.fulltext.dates Received: 3.02.2020; Revised: 21.07.2020; Accepted: 5.08.2020; Published online: 15.09.2020
utb.fulltext.sponsorship -
utb.wos.affiliation [Homola, David; Pasekova, Marie] Tomas Bata Univ, Zlin, Czech Republic
utb.scopus.affiliation Tomas Bata University in Zlín, Czech Republic
utb.fulltext.projects -
utb.identifier.jel M41
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Attribution 4.0 International Kromě případů, kde je uvedeno jinak, licence tohoto záznamu je Attribution 4.0 International