Accounting Classification in the Era of International Financial Reporting Standards: The case of Africa

Elad, C., Shah, N.S. and Agyeman, C. 2023. Accounting Classification in the Era of International Financial Reporting Standards: The case of Africa. Journal of International Accounting, Auditing and Taxation. 51 100546. https://doi.org/10.1016/j.intaccaudtax.2023.100546

TitleAccounting Classification in the Era of International Financial Reporting Standards: The case of Africa
TypeJournal article
AuthorsElad, C., Shah, N.S. and Agyeman, C.
Abstract

This paper presents the first empirical test of a hypothetical classification of financial reporting in Africa based on de facto or actual practices as opposed to de jure rules. Three multivariate techniques (principal component analysis, cluster analysis, and multidimensional scaling) were used to analyze the accounting policies of large listed companies in Africa that are required by law to adopt International Financial Reporting Standards (IFRS). It was found that there is a dichotomy between the IFRS policy choices of companies in Francophone and Lusophone countries, on the one hand, and those in common law jurisdictions, on the other, thus confirming the two-group classification schemes proposed by Elad (2015) and Nobes (1983). These findings have important policy implications, particularly in the context of recent recommendations of the World Bank and the International Monetary Fund that large entities in Africa adopt IFRS.

KeywordsAccounting classifications
IFRS practices
CFA franc zone
OHADA accounting system
Plan Comptable Général
SYSCOHADA
Article number100546
JournalJournal of International Accounting, Auditing and Taxation
Journal citation51
ISSN1061-9518
Year2023
PublisherElsevier
Accepted author manuscript
License
CC BY-NC-ND 4.0
File Access Level
Open (open metadata and files)
Digital Object Identifier (DOI)https://doi.org/10.1016/j.intaccaudtax.2023.100546
Publication dates
Published online29 Apr 2023
Published in printJun 2023

Related outputs

Accounting, accountability and governance in junior stock markets
Shah, N.S. 2023. Accounting, accountability and governance in junior stock markets. in: Carnegie, G. and Napier, C. (ed.) Handbook of Accounting, Accountability and Governance Edward Elgar. pp. 196-214

The use and measurement of communication self-efficacy techniques in a UK undergraduate accounting course
Roberts, Martin, Shah, Neeta, Mali, Dafydd, Arquero, Jose, Joyce, J. and Hassall, T. 2023. The use and measurement of communication self-efficacy techniques in a UK undergraduate accounting course. Accounting Education. 32 (6), pp. 735-763. https://doi.org/10.1080/09639284.2022.2113108

Financialization and later life financial (in)security: the Twice Migrant Gujarati households of west London
Shah, N.S. 2022. Financialization and later life financial (in)security: the Twice Migrant Gujarati households of west London. 4th Alternative Accounts Europe (AAE) Conference. University of Birmingham, UK 07 Jan 2022

Dynamic Capability and Strategic Corporate Social Responsibility Adoption: Evidence from China
Li, J., Benamraoui, A., Shah, N.S. and Mathew, S. 2021. Dynamic Capability and Strategic Corporate Social Responsibility Adoption: Evidence from China. Sustainability. 13 (10) e5333. https://doi.org/10.3390/su13105333

The Effect of Block Ownership on Future Firm Value and Performance
Benamraoui, A., Jory, S.R., Mazouz, K., Shah, N.S. and Gough, O. 2019. The Effect of Block Ownership on Future Firm Value and Performance. The North American Journal of Economics and Finance. 50, p. 100982 100982. https://doi.org/10.1016/j.najef.2019.04.025

Governors and directors: Competing models of corporate governance
Shah, N.S. and Napier, C.J. 2019. Governors and directors: Competing models of corporate governance. Accounting History. 24 (3), pp. 338-355. https://doi.org/10.1177/1032373218800839

Do financial distress and liquidity crises affect value and size premiums?
Bas, T., Elgammal, M.M., Gough, O., Shah, N.S. and van Dellen, S. 2016. Do financial distress and liquidity crises affect value and size premiums? Applied Economics. 48 (39), pp. 3734-3751. https://doi.org/10.1080/00036846.2016.1145345

Corporate reporting implication in migrating from defined benefit to defined contribution pension schemes: A focus on the UK
Josiah, J., Gough, O., Haslam, J. and Shah, N.S. 2014. Corporate reporting implication in migrating from defined benefit to defined contribution pension schemes: A focus on the UK. Accounting Forum. 38 (1), pp. 18-37. https://doi.org/10.1016/j.accfor.2013.10.003

Corporate  rescue in the UK and the effect of the TUPE
Kastrinou, A., Shah, N.S. and Gough, O. 2011. Corporate  rescue in the UK and the effect of the TUPE. Company Lawyer. 32 (5), pp. 131-137.

Reconsidering disclosure and liability in the transatlantic capital markets
Brewer, M.K., Gough, O. and Shah, N.S. 2011. Reconsidering disclosure and liability in the transatlantic capital markets. DePaul business & commercial law journal. 9, pp. 257-292.

Permalink - https://westminsterresearch.westminster.ac.uk/item/vw651/accounting-classification-in-the-era-of-international-financial-reporting-standards-the-case-of-africa


Restricted files

Accepted author manuscript

Under embargo until 29 Apr 2025

Share this

Usage statistics

77 total views
1 total downloads
These values cover views and downloads from WestminsterResearch and are for the period from September 2nd 2018, when this repository was created.