Adapting Accounting Disclosure of Sustainable Financial Information by the IFRS-S Requirements

Mohammed Hussein Ali

Mohammed Hussein Ali Faculty of Management and Economics, University of Kerbala, Iraq

Keywords: adapting accounting disclosure, sustainable financial information, IFRS-S

Abstract

The primary objective of this study is to assess the extent of accounting disclosure pertaining to sustainable financial information in accordance with IFRS-S adaptation criteria. The research involved employees from the financial and accounting departments of enterprises within the Iraqi telecommunications sector, employing a descriptive analytical approach. The study sample comprised 225 individuals, demonstrating a high level of adaptation to accounting disclosure of sustainable financial information in accordance with IFRS-S, with a mean of 4.166 and a standard deviation of 0.758. This finding addresses the primary research question. The study emphasized the importance of promoting the adoption and implementation of international financial and accounting standards across all institutions in the Republic of Iraq. It is essential to establish a suitable work environment that enhances the capacity of institutions in the Republic of Iraq to effectively implement international financial and accounting standards. Additionally, specialized universities and colleges must prioritize the development of curricula and study programs aligned with these standards, thereby improving the ability of students and graduates to fulfill labor market demands.

References

Abdul Latif, S. (2013). Accounting Measurement and Disclosure in Financial Statements According to International Accounting Standards IAS/IFRS. Faculty of Economics and Business, University of Kasdi Merbah.
Abdul Rahim, M. M. (2004). A proposal to develop the measurement and accounting disclosure of human assets in projects as an approach to improving quality [Unpublished master's thesis]. Faculty of Commerce Library, Zagazig University.
AL Abdullah, M. J. M., Alyaseen, A. A. A. M., & Faez Hasan, M. (2023). Role of Company’s Efficiency Measure in achieving return: Iraq’s Private Banks Case. Technium Social Sciences Journal, 39, 377–392. https://doi.org/10.47577/tssj.v39i1.8233
Al-Hadi, D. A. M. (2020). The foundations and rules of accounting disclosure in financial statements according to accounting and reporting standards (IAS / IFRS). Journal of Economic and Financial Studies, 6(1), 85.
Al-Jabali, W. S. A.-A. (2020). The Impact of Using Financial Standards for Sustainability Accounting on Improving Accounting Disclosure and Enhancing Investor Confidence: An Applied Study on Commercial Banks. Al-Obour Higher Institute for Management, Computers and Information Systems.
Al-Maliki, M. K. (2021). Motives for Applying International Accounting Standards and Their Impact on Accounting Disclosure in Financial Statements. Applied Research, General Directorate of Basra Education, Ministry of Education, Basra Governorate, Iraq, Issue 21.
Al-Saeed, S. M. (2022). Accounting Disclosure in Light of International Standards (IFRS/IAS) and Its Impact on the Quality of Financial Reports (A Field Study). Al-Moassasa Journal, 11(1), 164-153.
Al-Waqqad, S. M. (2011). Accounting Theory. Dar Al-Maisarah for Publishing and Distribution.
Ansari, S. P. M. A., Odongo, J. O., Nomani, M. Z. M., Salahuddin, G., Hasan, M. F., & Pallathadka, L. K. (2022). Evaluating the role of environment management system based on artificial intelligence. Materials Today: Proceedings, 56, 2240–2244. https://doi.org/10.1016/j.matpr.2021.11.571
Arora, G. D., Hasan, M. F., Sidhu, K. S., Tripathi, V., Misra, D., & Kumar, T. V. (2022). Method of Predicting of Trend in the Stock Exchange using ML and DL Algorithms. Proceedings of 5th International Conference on Contemporary Computing and Informatics, IC3I 2022, 89–95. https://doi.org/10.1109/IC3I56241.2022.10073453
Gassen, J., & Sellhorn, T. (2006). Applying IFRS in Germany: Determinants and Consequences. Capital Markets: Market Efficiency Journal, 58, 365-386.
Gupta, J., Pattnaik, M., Makhija, P., Auguskani, P. L., Hasan, M. F., & Jabeen, P. S. (2022). Prediction of Stock Price Fluctuations Based on Artificial Intelligence System. Proceedings of 5th International Conference on Contemporary Computing and Informatics, IC3I 2022, 2126–2130. https://doi.org/10.1109/IC3I56241.2022.10072407
Khamis, H. A. L. S. (2000). Problems of accounting measurement in investment funds [Unpublished master's thesis]. Faculty of Commerce Library, Helwan University.
Nanda, S. K., Krishna, S. H., Ram, S. T., Jena, S. K., Hasan, M. F., & Durga, S. (2024). Smart Finance: Evaluating AI and Machine Learning’s Impact on Investment Strategies and Financial Management. 2024 International Conference on Trends in Quantum Computing and Emerging Business Technologies, 1–5. https://doi.org/10.1109/TQCEBT59414.2024.10545191
Sharaf Al-Din, N. (2023). Accounting Disclosure According to International Accounting Standards: A Theoretical and Conceptual Introduction. Journal of Economic Studies, 17(2).
Zioud, L. et al. (2007). The role of accounting disclosure in the stock market in rationalizing the investment decision. Tishreen University Journal for Scientific Studies and Research, Economic and Legal Sciences Series, 29(1), 180.