The present study examines the changes thatoccurred in the accounting policies of the Greek companies after the adoptionof IAS. More precisely, a comparison analysis between the manufacturing and thecommercial sector is conducted. In order to achieve that, we analyze the impactof the IAS transition in the net income of the Greek listed manufacturing andcommercial companies by applying a new index on the field, we identify the mostimportant changes in accounting policies and we proceed by comparing thedifferences and similarities between the two sectors. Results suggest that theapplication of the “fair value” is the accounting policy that affected mostsignificantly both sectors, while the similarities between the two sectors seemto excel their differences.