Tel: +44 (0)20 7882 xxxx
Location: Mile End, Bancroft Building, Room 4.23
1st Supervisor: Dr Suki Sian
2nd Supervisor: Professor Sean McCartney
"Financial reporting framework in a developing world"
Since the integration of business and financial markets and trade internationalisation have a growing impact on economies, it is important to prepare financial information which satisfies financial statement users needs in international scope (Zeghal and Mhedhbi, 2006). The primary function of accounting is to present information in an understandable manner. That's why, in some ways, financial statements which are prepared according to national standards may even be an obstacle for investors and businesses as a whole.
According to research, development of accounting standards has been long discussed in recent years (Zeghal and Mhedhbi, 2006). Particularly, the main principles of adopting international accounting standards by emerging economies have always been a subject of a long debate. This study will indicate whether it is appropriate to implement and follow the internationally recognised path of financial reporting standards or modified version considering local realities would provide desirable outcomes to the developing countries. Moreover, while last 10 years most developing countries adopted IFRS, an increasing concern about appropriateness and relevance of international standards to emerging countries also would be considered.