IFRS Adoption and its Implementations in Azerbaijan Cover Image

Adaptacja I Wdrożenie IFRS W Azerbejdżanie
IFRS Adoption and its Implementations in Azerbaijan

Author(s): Etibar Hüseynli, Nərmin Balayeva
Subject(s): National Economy, Methodology and research technology, Economic development, Accounting - Business Administration
Published by: Szkoła Główna Gospodarstwa Wiejskiego w Warszawie
Keywords: Financial reporting; International Financial Reporting Standards (IFRS); implications of IFRS in Azerbaijan; national reporting standards; hypothesis development;

Summary/Abstract: The purpose of the study is to illustrate the application of International Financial Reporting Standards in Azerbaijan and why it is essential to adopt IFRS. All companies in the European Union countries and other ones, as well as Azerbaijan, since January 2008 are required to prepare financial statements in compliance with IFRS. We also find that the transition to IFRS had a significant effect on increasing transparency and effectiveness on reporting the financial statements. Our research seeks to examine how the transition to IFRS will happen or do the firms and banks in Azerbaijan have the incentives to apply IFRS. Our analysis support that the adoption of IFRS in Azerbaijan is helpful to economic development and financial system stability with positive economic effects.

  • Issue Year: 14/2015
  • Issue No: 4
  • Page Range: 13-23
  • Page Count: 11
  • Language: English