Proposal for improved financial statements under IFRS

The benefits that users gain from financial statements depend on clear and concise presentation of the underlying economics. The current IFRS regulation on presentation of primary financial statements suffers from several flaws. This paper identifies and analyzes these flaws using illustrative examples from large accounting firms. Based on this discussion we present a set of alternative financial statements. The paper concludes with proposed modifications of the current financial statements under IFRS.

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Year of publication:	2019
Authors:	Baksaas, Kjell Magne ; Stenheim, Tonny
Published in:	Cogent Business & Management. - Abingdon : Taylor & Francis, ISSN 2331-1975. - Vol. 6.2019, p. 1-24
Publisher:	Abingdon : Taylor & Francis
Subject:	Primary financial statements \| statement of financial performance \| statement of financial position \| decision usefulness \| business model \| presentation

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Type of publication:	Article
Type of publication (narrower categories):	Article
Language:	English
Other identifiers:	10.1080/23311975.2019.1642982 [DOI] 1680637541 [GVK] hdl:10419/206210 [Handle]
Classification:	M48 - Government Policy and Regulation ; G15 - International Financial Markets
Source:	EconStor

Persistent link: https://www.econbiz.de/10012117440