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The IFRS Adoption and Its Impact on Financial and Management Accounting
[Implementace IFRS a její vliv na vzájemné postavení finančního a manažerského účetnictví]

Author

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  • David Procházka

Abstract

Traditionally, management and financial accounting were two relatively independent information systems. In the transition countries, financial reporting is heavily influenced by tax legislation, which impairs the usefulness of financial statements for external users. Entities are then forced to remove those lacks in management accounting in a great extent to obtain useful information for the internal decision-making. A separate coexistence of management and financial accounting is then inevitable. The IFRS adoption has increased the quality of financial reporting in transitional countries, despite significant implementation costs. To lower the cost burden, the IFRS are becoming the leading principles of management accounting. The paper assumes that the IFRS may be a special driver for the convergence of financial and management accounting in transitional countries and supports this assumption by empirical questionnaire survey among selected Czech companies.

Suggested Citation

  • David Procházka, 2014. "The IFRS Adoption and Its Impact on Financial and Management Accounting [Implementace IFRS a její vliv na vzájemné postavení finančního a manažerského účetnictví]," Český finanční a účetní časopis, Prague University of Economics and Business, vol. 2014(1), pages 50-60.
    • Handle: RePEc:prg:jnlcfu:v:2014:y:2014:i:1:id:380:p:50-60
    DOI: 10.18267/j.cfuc.380
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    References listed on IDEAS

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    1. Ittner, Christopher D. & Larcker, David F., 2001. "Assessing empirical research in managerial accounting: a value-based management perspective," Journal of Accounting and Economics, Elsevier, vol. 32(1-3), pages 349-410, December.
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    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    International Financial Reporting Standards; Financial Accounting; Management Accounting; Integration of Accounting Systems; Mezinárodní standardy účetního výkaznictví; Finanční účetnictví; Manažerské účetnictví; Integrace účetních modelů;
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

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