The impact of IFRS 8 on disclosure practices of Jordanian listed companies

Ghassan H. Mardini N.A. · Louise Crawford · David Power

60 citations0/0 files storedJournal of Accounting in Emerging Economies

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Auditing, Earnings Management, Governance Accounting Theory and Financial Reporting Financial Reporting and XBRL

Abstract

Purpose The purpose of this paper is to compare the segmental information disclosures of Jordanian companies under IFRS 8 for 2009 with disclosures under IAS 14R for 2008. Design/methodology/approach A sample of 109 Jordanian companies is used in this research. A disclosure index checklist was constructed to assess the segmental information provided by the sample companies. In particular, the checklist collected information about: the number of segments reported; the number and type of segmental items published; the geographic segment definitions (areas) used; and the identity of the chief operating decision maker (CODM). Findings The results suggest that segmental disclosures under IFRS 8 have increased compared to the information published under IAS 14R. There is an increase in the number of companies disclosing segmental information while the number of business and geographic segments for which information is provided rose under IFRS 8. Items required under the previous standard (IAS 14R) are still being provided in 2009, and the new segmental information required (if reviewed by the CODM) under IFRS 8 is also disclosed. As a result, the total number of segmental items disclosed increased. Moreover, a majority of companies identified the CODM as the chief executive officer. Research limitations/implications This research highlights that the introduction of IFRS 8 has been associated with more Jordanian companies now disclosing segmental information. However, factors other than IFRS 8 may have contributed to the increased disclosure; these are not considered in the current paper. Originality/value This research shows that IFRS 8 compliance amongst Jordanian first market companies has resulted in an increase in the number of segments and items per segment disclosed.

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References

1991The use of disclosure indices in accounting research: A review article 2008Managerial Empire Building and Firm Disclosure 1989Voluntary Corporate Disclosure by Swedish Companies 2006Implementing IFRS from the perspective of EU publicly traded companies 2002Dissemination of information for investors at corporate Web sites 2005The Impact of SFAS No. 131 Business Segment Data on the Market's Ability to Anticipate Future Earnings 2007The Research Imagination: An Introduction to Qualitative and Quantitative Methods 2000An Analysis of Segment Disclosures under SFAS No. 131 and SFAS No. 14

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