Impacts and Changes in the Accounting Policies after the IAS Adoption: A Comparison between the Manufacturing and the Commercial Sector in Greece

The present study examines the changes that occurred in the accounting policies of the Greek companies after the adoption of IAS. More precisely, a comparison analysis between the manufacturing and the commercial sector is conducted. In order to achieve that, we analyze the impact of the IAS transition in the net income of the Greek listed manufacturing and commercial companies by applying a new index on the field, we identify the most important changes in accounting policies and we proceed by comparing the differences and similarities between the two sectors. Results suggest that the application of the "fair value" is the accounting policy that affected most significantly both sectors, while the similarities between the two sectors seem to excel their differences.