A study of the impact of the implementation of the International Accounting Standards on the degree of harmony of the publicly listed companies udner the property sector of the Philippines

• Main Authors: Dizon, Farrah A., Miranda, Thomas Rafael L., Pineda, Lorianne Marie T.
• Format: text
• Language: English
• Published: Animo Repository 2007
• Subjects: Accounting > Study and teaching; Financial statements > Standards
• Online Access: https://animorepository.dlsu.edu.ph/etd_bachelors/6126
• Institution: De La Salle University

Harmonization is a process to promote greater comparability. It is a reconciliation of different points of view on financial reporting of individual countries or firms to address individual needs without any logical conflict. This study aims to determine the impact of the implementation of IAS on the degree of harmony in the property sector. The proponents made use of the information from their annual reports, specifically the notes to financial statements regarding the accounting policies on the presentation of cash flow statements, revenue recognition, recognition of borrowing costs, measurement and depreciation of property, plant and equipment, and measurement of investment property. The degree of harmony in the sector was measured by using the Herfindahl Index. The Herfindahl Index is a statistical methods developed to measure the harmonization's degree of concentration. The H index is calculated by weighing the relative frequencies of the alternatives against each other. The H Index will then be compared to the set of ranges prepared by the proponents to determine the degree of harmony. The result indicate that the degree of harmony remained the same throughout the three year period except for borrowing costs which decreased to only an average degree harmony. This shows that the objective of the ASC to increase the degree of harmony was not met in the first two years, and recommends that they enhance of harmony was not met in the first two years, and recommends that they enhance their effort in achieving the goals of accounting harmonization. A study of the impact of the implementation of the International Accounting Standards on the Degree of Harmony to the Publicly Listed Companies under the Property Sector of the Philippines.