Work

Bridging International Financial Reporting Standards and Emerging Market Realities: A Practical Framework for Accounting Education and Implementation

Year: 2026

Type: article

Abstract: The global adoption of International Financial Reporting Standards (IFRS) aims to provide highquality, transparent, and comparable financial information across capital markets. However, inemerging markets, practitioners and students frequently encounter significant friction whentranslating abstract accounting standards into real-world commercial workflows.This paper presents an applied instructional and implementation framework designed to bridgethe gap between theoretical standards specifically IAS 1 (Presentation of Financial Statements),IAS 7 (Statement of Cash Flows), and IFRS 15 (Revenue from Contracts with Customers) and dailyenterprise accounting execution. By examining the alignment between regulatory reportingcriteria and enterprise resource planning software setups, this study outlines a methodology forreducing compliance risk, strengthening internal controls, and improving financial reportingquality in developing economies.Keywords: Financial Reporting, IFRS, IAS 1, IAS 7, IFRS 15, Enterprise Accounting, Compliance, EmergingMarket

Source: Zenodo (CERN European Organization for Nuclear Research)

DOI: 10.5281/zenodo.24082588

Author: ONWUBOLU, FREDRICK

Language: English

Topic: Accounting Theory and Financial Reporting

Subfield: Accounting

Field: Business, Management and Accounting

Domain: Social Sciences

Open Access status: green

OpenAlex ID: W7225664365

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