Proposal for improved financial statements under IFRS

The benefits that users gain from financial statements depend on clear and concise presentation of the underlying economics. The current IFRS regulation on presentation of primary financial statements suffers from several flaws. This paper identifies and analyzes these flaws using illustrative examp...

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Autores principales:	Kjell Magne Baksaas, Tonny Stenheim
Formato:	article
Lenguaje:	EN
Publicado:	Taylor & Francis Group 2019
Materias:	primary financial statements statement of financial performance statement of financial position decision usefulness business model presentation Business HF5001-6182 Management. Industrial management HD28-70
Acceso en línea:	https://doaj.org/article/59f34483f9f743ada65802dd9587ce58
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spelling	oai:doaj.org-article:59f34483f9f743ada65802dd9587ce582021-12-02T16:09:30ZProposal for improved financial statements under IFRS2331-197510.1080/23311975.2019.1642982https://doaj.org/article/59f34483f9f743ada65802dd9587ce582019-01-01T00:00:00Zhttp://dx.doi.org/10.1080/23311975.2019.1642982https://doaj.org/toc/2331-1975The benefits that users gain from financial statements depend on clear and concise presentation of the underlying economics. The current IFRS regulation on presentation of primary financial statements suffers from several flaws. This paper identifies and analyzes these flaws using illustrative examples from large accounting firms. Based on this discussion we present a set of alternative financial statements. The paper concludes with proposed modifications of the current financial statements under IFRS.Kjell Magne BaksaasTonny StenheimTaylor & Francis Grouparticleprimary financial statementsstatement of financial performancestatement of financial positiondecision usefulnessbusiness modelpresentationBusinessHF5001-6182Management. Industrial managementHD28-70ENCogent Business & Management, Vol 6, Iss 1 (2019)
institution	DOAJ
collection	DOAJ
language	EN
topic	primary financial statements statement of financial performance statement of financial position decision usefulness business model presentation Business HF5001-6182 Management. Industrial management HD28-70
spellingShingle	primary financial statements statement of financial performance statement of financial position decision usefulness business model presentation Business HF5001-6182 Management. Industrial management HD28-70 Kjell Magne Baksaas Tonny Stenheim Proposal for improved financial statements under IFRS
description	The benefits that users gain from financial statements depend on clear and concise presentation of the underlying economics. The current IFRS regulation on presentation of primary financial statements suffers from several flaws. This paper identifies and analyzes these flaws using illustrative examples from large accounting firms. Based on this discussion we present a set of alternative financial statements. The paper concludes with proposed modifications of the current financial statements under IFRS.
format	article
author	Kjell Magne Baksaas Tonny Stenheim
author_facet	Kjell Magne Baksaas Tonny Stenheim
author_sort	Kjell Magne Baksaas
title	Proposal for improved financial statements under IFRS
title_short	Proposal for improved financial statements under IFRS
title_full	Proposal for improved financial statements under IFRS
title_fullStr	Proposal for improved financial statements under IFRS
title_full_unstemmed	Proposal for improved financial statements under IFRS
title_sort	proposal for improved financial statements under ifrs
publisher	Taylor & Francis Group
publishDate	2019
url	https://doaj.org/article/59f34483f9f743ada65802dd9587ce58
work_keys_str_mv	AT kjellmagnebaksaas proposalforimprovedfinancialstatementsunderifrs AT tonnystenheim proposalforimprovedfinancialstatementsunderifrs
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Proposal for improved financial statements under IFRS

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