The perceptions of managers of Greek firms regarding the Costs and Benefits ensuing from the adoption of International Financial Reporting Standards in Greece
Year: 2011
Type: article
Study design: Observational Study
Abstract: The study seeks to investigate the costs and benefits resulting from the application of IFRS in Greece. A questionnaire survey was conducted in order to identify the perceptions of the financial managers of Greek listed firms regarding the benefits and the costs associated with the transition to IFRS. In addition, it was asked to indicate whether the IFRS benefits are sufficient to cover the related costs. Four types of costs appear to be prevalent: personnel training costs, consultants' fees, preparation of two sets of accounts and costs to adjust existing information systems. The findings of the analysis of the responses suggest that, although the majority of respondents believe that the introduction of IFRS improved the quality of the financial statements published by Greek firms, they have serious concerns regarding the costs related to the introduction of IFRS.
Institution: Technological Educational Institute of Piraeus
Language: English
Subfield: Accounting
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W2105934523