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Financial statements in less developed countries : what do preparers demand?

Yaftian, Ali Mohammad and Mirshekary, Soheila 2009, Financial statements in less developed countries : what do preparers demand?, Journal of modern accounting and auditing, vol. 5, no. 9, pp. 12-20.

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Title Financial statements in less developed countries : what do preparers demand?
Author(s) Yaftian, Ali Mohammad
Mirshekary, Soheila
Journal name Journal of modern accounting and auditing
Volume number 5
Issue number 9
Start page 12
End page 20
Publisher David Publishing Company
Place of publication Libertyville, Ill.
Publication date 2009-09
ISSN 1548-6583
1935-9683
Keyword(s) financial reporting
preparers’ perceptions
corporate disclosure
application of information
developing economies
Iran
Summary This study reports on an empirical investigation of the characteristics, attitudes, and beliefs of preparers of external financial reports in a less developed country. The basic research instrument consisted of a questionnaire in two parts: the first addressing attitudes of professional accountants toward annual financial reports generally; the second, more specifically measuring the importance of the information items to preparers. Our results suggest that the independent auditor is the most influential group in decision-making processes. As in many developed countries, the auditor’s report and the regulatory framework are considered to have a major influence on financial reporting practices. Preparers believe that a lack of knowledge of external users’ needs and lack of reporting standards and accepted accounting principles are the main concerns with corporate financial reports in Iran. The results showed that the balance sheet, auditors’ report, and income statement in that order are the three most important parts of the annual reports.
Language eng
Field of Research 150103 Financial Accounting
Socio Economic Objective 900101 Finance Services
HERDC Research category C1 Refereed article in a scholarly journal
Copyright notice ©2009, David Publishing Company
Persistent URL http://hdl.handle.net/10536/DRO/DU:30022676
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