| Summary: | 碩士 === 東吳大學 === 企業管理學系 === 99 === The Financial Supervisory Commission has announced the Listed and Over-the-Counter (OTC) companies must prepare financial statements in compliance with the International Financial Reporting Standards (IFRSs)on May 14, 2009. Currently a number of companies are planning in adoption work.
The study discusses IFRS, Financial Accounting Standards Board (FASB) of United State and Taiwanese Financial Accounting Standards through literature review, in attempt to understand the different accounting standards framework and characteristic difference which lead financial managers to response plans on changes. The listed enterprises in Europe have adopted IFRS in 2005, and the issues they have faced during the conversion process can be used as lessons for Taiwanese enterprises. Although it is merely the conversion of accounting principles; the conversation plan involves enterprise resource allocation. A well-prepared conversion plan will achieve the implementation of optimal resource allocation and enhance future competitiveness of enterprises; hence financial managers should respond with cautions and thereby accomplish enterprise business objectives.
The study applies secondary data analysis, comparative analysis, survey research and expert opinion survey to compile the related literature in the past and the comparison of the accounting standards framework, characteristics and content concepts difference discussed by scholars and professional practice. Through differences in accounting standards, Enterprise should take into consideration of the five issues of corresponding measures in adopting IFRS: analyzing differences between IFRS and generally accepted accounting principles (GAAP) for Taiwan, drawning up the plan for IFRS adoption, communicating with stakeholders and deploying employees, changing on accounting policies and internal control and modification on information system.
The study has induced in five empirical conclusions:
1.Taiwan GAAP framework characteristic is ruled-based, more specific guides and requires less judgements and explanations. The characteristics of accounting standards to professional practice influence biggest.
2.The corresponding plans should include “developing IFRS carrying out plan”, “setting up appropriate time schedule”, “setting up objectives in every time schedule”.
3.To avoid the differences of accounting principles to impact stakeholders, above ninety percentage professionals think that enterprises must have an articulate argument of differences with stakeholders. Above half professionals think that the whole corporate employees need to be trained.
4.The accounting principles conversion will change accounting policies and internal control.
5.The information system plays an important role in converision. Before information system modification, enterprise must accomplish detail analysis to insure that the conversion will meet IFRS demands.
Finally, the study provides enterprise with some suggests in enhancing future competitiveness of enterprise and recommendation for follow-up researchers.
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