Analysis of the impact of first-time mandatory IFRS adoption on financial statements: The case study of the listed hotels in Turkey
Vol. 16, Nr. 1/2017 , p5..29
Author(s):
Ilhan Dalci
Hasan Özyapici
Keywords:
first-time mandatory IFRS, IFRS adoption, financial statements, financial ratios
Abstract:
This study aims to explore the impact of first-time IFRS adoption on the selected financial ratios of the hotels listed in ISE in Turkey. The selected liquidity, solvency, and profitability ratios were used. Both non-parametric Wilcoxon signed-rank test and paired-samples t-test have been applied to test the impact of IFRS adoption. The results show that the transition to IFRS does not influence the financial ratios of listed hotels in Turkey. Accordingly, it sheds light into whether or not transition to IFRS influences the financial performance of the hotel industry in an emerging country. In addition, this study provides better understanding of financial reporting theory and IFRS practices in hospitality sector. This study also provides useful information to the decision-makers such as hotel managers, accountants, investors from other emerging economies, and practitioners who are currently evaluating the merits of applying IFRS. To the best of our knowledge, there is no study investigating the quantitative impact IFRS transition in the hospitality industry in general and hotels in particular. Thus, the present study is expected to fill this gap.
Download:
http://online-cig.ase.ro/jcig/art/16_1_1.pdf
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