IFRS Adoption in the EU and the Challenge of Nomenclature Evidence from the UK, France, and Germany

M. Nnadi; Sailesh Tanna

doi:10.4018/978-1-4666-9876-5.ch007

IFRS Adoption in the EU and the Challenge of Nomenclature Evidence from the UK, France, and Germany

M. Nnadi, Sailesh Tanna

School of Economics, Finance and Accounting

Rivers State University

Research output: Chapter in Book/Report/Conference proceeding › Chapter › peer-review

Abstract

Since the adoption of International Financial Reporting Standards (IFRS) and the subsequent directive by the European Union (EU), all companies operating in the EU are required to report their consolidated financial statements in line with the IFRS. This study examines the consolidated financial statements of the top 170 listed companies in three major EU stock exchanges (UK, France and Germany) and uncovered a disparity in the use of common nomenclatures. The findings reveal that the inconsistencies in the application of terminologies such as statement of financial position instead of balance sheet and sequence of arrangement of assets in order of liquidity constitute the main differences for entities operating in the three countries. Such differences pose an imminent challenge in the comparability and interpretation of financial results.

Original language	English
Title of host publication	Economics and Political Implications of International Financial Reporting Standards
Editors	Efobi Uchenna, Matthias Nnadi, Sailesh Tanna, Francis Iyoha
Place of Publication	Hershey, PA, USA
Publisher	IGI Global
Pages	134-143
ISBN (Print)	9781466698765, 9781466698772
DOIs	https://doi.org/10.4018/978-1-4666-9876-5.ch007
Publication status	Published - Mar 2016

Bibliographical note

The full text is not available on the repository.

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10.4018/978-1-4666-9876-5.ch007

1 Anthology or Edited Book

Economics and Political Implications of International Financial Reporting Standards
Uchenna, E. (ed.), Nnadi, M. (ed.), Tanna, S. (ed.) & Iyoha, F. (ed.), Mar 2016, Hershey, PA, USA: IGI Global.
Research output: Book/Report › Anthology or Edited Book

Open Access

Cite this

IFRS Adoption in the EU and the Challenge of Nomenclature Evidence from the UK, France, and Germany. / Nnadi, M.; Tanna, Sailesh.
Economics and Political Implications of International Financial Reporting Standards. ed. / Efobi Uchenna; Matthias Nnadi; Sailesh Tanna; Francis Iyoha. Hershey, PA, USA: IGI Global, 2016. p. 134-143.

Research output: Chapter in Book/Report/Conference proceeding › Chapter › peer-review

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ER -

IFRS Adoption in the EU and the Challenge of Nomenclature Evidence from the UK, France, and Germany

Abstract

Bibliographical note

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Research output

Economics and Political Implications of International Financial Reporting Standards

Cite this