A study on the early application of international financial reporting standards of selected listed banks in the Philippines: Its benefits and other effects
This study focused on determining what early adoption of newly issued or amended standards brings to banks. Data collection was done by gathering a list of listed banks in the Philippines that have early applied IFRS 9 from 2009 to 2015. Data from the financial statements of these banks were used to...
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| Main Authors: | , , , |
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| Format: | text |
| Language: | English |
| Published: |
Animo Repository
2016
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| Subjects: | |
| Online Access: | https://animorepository.dlsu.edu.ph/etd_bachelors/7698 |
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| Institution: | De La Salle University |
| Language: | English |
| Summary: | This study focused on determining what early adoption of newly issued or amended standards brings to banks. Data collection was done by gathering a list of listed banks in the Philippines that have early applied IFRS 9 from 2009 to 2015. Data from the financial statements of these banks were used to determine relevant financial ratios that may have been affected as a result of the early application of IFRS 9. Benefits and other effects were determined through comparative analyses among the early adopters. Paired T-tests were conducted to determine whether the changes that have been found are significant to the banks. To further substantiate these benefits and other effects, interview with the key personnel of early adopting banks were conducted. Upon doing so, the respondents found out that early adoption benefited several banks as it had helped them in complying with banking regulations. In addition to that, early adoption also aided banks in better aligning management's strategies with their operations or business transactions. |
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