Impact of international financial reporting standards on the profit and equity of AIM listed companies in the UK

Impact of international financial reporting standards on the profit and equity of AIM listed companies in the UK

Yes === This study examines the extent to which the change from UK GAAP to IFRS has affected companies listed on the Alternative Investment Market (AIM) in the UK. The results suggest that, on average, profit reported under IFRS is higher than that reported under UK GAAP; however, the difference is...

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Bibliographic Details
Main Authors: Ali, A., Akbar, Saeed, Ormrod, P.
Language:en
Published: 2019
Subjects:
International financial reporting standards
Accounting harmonisation
Alternative investment market
Small and growing companies
Gray conservatism index
IFRS 1
Online Access:http://hdl.handle.net/10454/17131
Description
Summary:Yes === This study examines the extent to which the change from UK GAAP to IFRS has affected companies listed on the Alternative Investment Market (AIM) in the UK. The results suggest that, on average, profit reported under IFRS is higher than that reported under UK GAAP; however, the difference is much smaller for AIM listed companies as compared to what existing literature suggests for firms listed on main stock markets. The Gray's partial analysis results indicate that despite the extensive programmes for improving convergence over time there is still a considerable discrepancy between IFRS and UK GAAP.

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