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Please use this identifier to cite or link to this item: http://hdl.handle.net/123456789/8520

Title: IFRS adoption: costs and benefits for companies listed on Ghana club 100.
Authors: Awuku, Alex Annor
Issue Date: 6-Apr-2016
Abstract: The pronouncement by Ghana to adopt IFRS in 2008 was part of an upsurge of several nations substituting their local accounting standards in courtesy of global solutions. The desire to provide cost of capital saving for companies, comparability improvement of financial statement, and the effortlessness with which transnational activities of companies can be managed were some of the potential drivers that instigated policy makers in Ghana to adopt IFRS. But have companies actually realised these benefits? Have such benefits been worthwhile, given the transitionary and ongoing costs of IFRS adoption? As illustrated by an extensive review of the literature, despite the significance of the decision by Ghana to adopt IFRS, these questions have been largely under- researched. The research project reported in this thesis sought to address this knowledge gap. A survey questionnaire approach, directed to companies listed on Ghana Club 100, was adopted to capture quantitative and qualitative research data for these questions. A total of 16 (21% usable response rate) responses were received. Survey respondents occupied senior positions within their respective companies. Generally, ability to internationally compare and evaluate financial statements, benefits connected to perceive quality improvement of financial reports by users of financial statements appeared to be most significant benefits of adopting IFRS. The practice of IFRS was acknowledged as providing snugger direction on vital issues not addressed sufficiently by Ghana National Accounting Standards. Notwithstanding this, adoption of IFRS has been reported as being complex and time consuming and also resulting in user confusion of financial statement and advanced external professional fee. Lastly, Survey response rates, possible flaws in the survey design and generalizability of findings are some of the limitations. In the eyes of some participants of this study, accounting firms were key to understanding the true drivers of IFRS adoption.
Description: A thesis submitted to the Department of Accounting and Finance, College of Arts and Social Sciences in partial fulfillment of the requirements for the degree of Master of Business Administration (Accounting), 2015
URI: http://hdl.handle.net/123456789/8520
Appears in Collections:College of Arts and Social Sciences

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