Premium
Some Implications of IFRS Adoption for Accounting Education
Author(s) -
Jackling Beverley,
Howieson Bryan,
Natoli Riccardo
Publication year - 2012
Publication title -
australian accounting review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.551
H-Index - 36
eISSN - 1835-2561
pISSN - 1035-6908
DOI - 10.1111/j.1835-2561.2012.00197.x
Subject(s) - international financial reporting standards , accounting , business , early adopter , face (sociological concept) , set (abstract data type) , accounting standard , financial accounting , accounting information system , marketing , sociology , computer science , social science , programming language
This paper addresses challenges accounting educators face in their teaching following the adoption of International Financial Reporting Standards (IFRS). We use Australia as an example of a developed nation and 2005 adopter of IFRS, the United States as a potential adopter, and Romania as an emerging economy with a history of harmonisation and adoption initiatives. Accounting educators globally need to strengthen their engagement with the principles‐based approach to teaching IFRS. Teaching resources, educational research and Continuing Professional Development activities related to a principles‐based approach to teaching IFRS are necessary for educators to enrich the learning experience of students given the move from a rules‐based to a principles‐based set of accounting standards.