Browse > Article
http://dx.doi.org/10.13106/jafeb.2020.vol7.no12.233

Mitigating Uncertainty in the Boardroom: Analysis to Financial Reporting for Financial Risk COVID-19  

JABBAR, Ali Khazaal (Department Business of Administration, College of Administration and Economics, Universityy of Misan)
ALMAYYAHI, Aymen Raheem Abdulaali (Accounting Technical Department, Management Technical College, Southern Technical University)
ALI, Ibrahem Mohamed (Department of Accounting, College of Administration and Economics, University of Al Hamdaniya)
ALNOOR, Alhamzah (Management Technical College, Southern Technical University)
Publication Information
The Journal of Asian Finance, Economics and Business / v.7, no.12, 2020 , pp. 233-243 More about this Journal
Abstract
This study aims to assess the impacts of COVID-19 on International Financial Reporting Standards (IFRS), because of the problems associated with changing and amending the financial reports according to the policies established based on the circumstances of the epidemic. The study sample targeted several international financial reports that were amended based on epidemic conditions. The revised financial reporting period provides standardized reporting procedures for financial transactions worldwide despite the pandemic. Therefore, IFRS has been used to reduce challenges in financial reporting by monitoring the duration of social distancing while reporting matters to eliminate confirmed uncertainty and judgment. After analyzing the data obtained through global search engines, the results conducted provided evidence that COVID-19 affects financial reporting in companies around the world. Therefore, companies face difficulty reporting finances based on the challenging environment that the pandemic represents. Besides, IFRS fair value measurements consider the prices that were predicted according to current market values. The contexts of the changing the standards by IFRS to curb the effects of the COVID19 financial reporting was attained through evaluation of the online files that were randomly selected and filtered to obtain valid data.
Keywords
Financial Reporting; Covid-19; Financial Risks; International Standards; Mitigating Uncertainty;
Citations & Related Records
Times Cited By KSCI : 10  (Citation Analysis)
연도 인용수 순위
1 Abdulaali, A. R. (2018). the impact of intellectual capital on business organizations. Academy of Accounting and Financial Studies Journal, 22(6), 1-16. https://doi.org/1528-2635-22-6-303
2 Al-Abrrow, H., Ali, J., & Alnoor, A. (2019). Multilevel influence of routine redesigning, legitimacy, and functional affordance on sustainability accounting: Mediating role of organizational sense-making. Global Business Review. November 15, 1-26 https://doi.org/10.1177/0972150919869726.   DOI
3 Al-Abrrow, H., Alnoor, A., & Abbas, S. (2019). The effect of organizational resilience and CEO's narcissism on project success: Organizational risk as a mediating variable. Organization Management Journal, 16(1), 1-13. https://doi.org/10.1080/15416518.2018.1549468.   DOI
4 Alhamdi, M., Noor, R. M. A. S., Abdulla, M., Alnoor, A., & Eneizan, B. (2019). How does financial analysis influence the firm's failure in the Iraqi private sector? The Journal of Social Sciences Research, 5(9), 1321-1328. https://doi.org/10.32861/jssr.59.1321.1328.   DOI
5 Alnoor, A. (2020). Human capital dimensions and firm performance, the mediating role of knowledge management. International Journal of Business Excellence, 20(2), 149-168. https://doi.org/10.1504/IJBEX.2020.105357.   DOI
6 Alnoor, A. M., Al‐Abrrow, H., Abdullah, H., & Abbas, S. (2020). The impact of self‐efficacy on employees' ability to accept new technology in an Iraqi university. Global Business and Organizational Excellence, 39(2), 41-50. https://doi.org/10.1002/joe.21984.   DOI
7 Alnoor, A., Eneizan, B., Makhamreh, H. Z., & Rahoma, I. A. (2018). The effect of reverse logistics on sustainable manufacturing. International Journal of Academic Research in Accounting, Finance and Management Sciences, 9(1), 71-79. http://dx.doi.org/10.6007/IJARAFMS/v9-i1/5768.   DOI
8 Asumadu, E., & Das, S. (2018). Corporate financial reporting: A study on the IFRS regime in Ghana and around the world. International Journal of Management Reviews, 4(3), 1-11. https://doi.org/10.18843/ijms/v5i4(3)/01.   DOI
9 Aymen, R. A., Alhamzah, A., & Bilal, E., 2019. A multi-level study of influence financial knowledge management small and medium enterprises. Polish Journal of Management Studies, 19(1), 21-31. https://doi.org/10.18843/ijms/v5i4(3)/01.   DOI
10 Benmelech, E., & Tzur-Ilan, N. (2020). The determinants of fiscal and monetary policies during the COVID-19 crisis (No. w27461). National Bureau of Economic Research, 1(3), 1-42. https://doi.org/10.3386/w27461.   DOI
11 Bharti, B., & Kumar, A. (2020). Herding in the fast-moving consumer group sector: Equity market asymmetry and crisis. Journal of Asian Finance, Economics, and Business, 7(9), 39-49. https://doi.org/10.13106/jafeb.2020.vol7.no9.039   DOI
12 Burton, G. F., & Jermakowicz, E. K. (2015). International financial reporting standards: a framework-based perspective. London, UK: Routledge.
13 Dang, H. T., Phan, D. T., Nguyen, H. T., & Hoang, L. H. T. (2020). Factors affecting financial risk: evidence from listed enterprises in Vietnam. Journal of Asian Finance, Economics, and Business, 7(9), 11-18. https://doi.org/10.13106/jafeb.2020.vol7.no9.011   DOI
14 Fernandes, N. (2020). Economic effects of coronavirus outbreak (COVID-19) on the world economy. Available at SSRN: https://ssrn.com/abstract=3557504 or http://dx.doi.org/10.2139/ssrn.3557504.
15 Duong, T. T. N., Phan, H. T., Hoang, T. N., & Vo, T. T. T. (2020). The effect of financial restructuring on the overall financial performance of the commercial banks in Vietnam. Journal of Asian Finance, Economics, and Business, 7(9), 75-84. https://doi.org/10.13106/jafeb.2020.vol7.no9.075.   DOI
16 El-Helaly, M., Ntim, C., & Al-Gazzar, M. (2020) Diffusion theory, national corruption, and IFRS adoption around the world. Journal of International Accounting, Auditing, and Taxation, 38(1), 1-22. https://doi.org/10.1016/j.intaccaudtax.2020.100305.   DOI
17 Eneizan, B., Mohammed, A. G., Alnoor, A., Alabboodi, A. S., & Enaizan, O. (2019). Customer acceptance of mobile marketing in Jordan: An extended UTAUT2 model with trust and risk factors. International Journal of Engineering Business Management, 11(11), 1-10. https://doi.org/10.1177/1847979019889484.   DOI
18 Frey, G. E., Cubbage, F. W., Ha, T. T. T., Davis, R. R., Carle, J. B., Thon, V. X., & Dzung, N. V. (2018). Financial analysis and comparison of smallholder forest and state forest enterprise plantations in Central Vietnam. International Forestry Review, 20(2), 181-198. https://doi.org/10.1505/146554818823767582.   DOI
19 Hadi, A. A., Alnoor, A., & Abdullah, H. O. (2018). Socio-technical approach, decision-making environment, and sustainable performance: Role of ERP systems. Interdisciplinary Journal of Information, Knowledge, and Management, 13(2), 397-415. https://doi.org/10.28945/4149.   DOI
20 Oztürk, H., & Karabulut, T. A. (2018). The relationship between earnings-to-price, current ratio, profit margin, and return is an empirical analysis of the Istanbul stock exchange. Accounting and Finance Research, 7(1), 109-115. https://doi.org/10.5430/afr.v7n1p109.   DOI
21 Tahir, S. H., Tahir, F., Syed, N., Ahmad, G., & Ullah, M. R. (2020). Stock market response to terrorist attacks: An event study approach. Journal of Asian Finance, Economics, And Business, 7(9), 31-37. https://doi.org/10.13106/jafeb.2020.vol7.no9.031   DOI
22 Steccolini, I. (2018), Accounting and the post-new public management: Re-considering publicness in accounting research, Accounting, Auditing & Accountability Journal, 32(1), 255-279. https://doi.org/10.1108/AAAJ-03-2018-3423.   DOI
23 Sumani, S., & Roziq, A. (2020). Reciprocal capital structure and liquidity policy: Implementation of corporate governance toward corporate performance. Journal of Asian Finance, Economics, and Business, 7(9), 85-93. https://doi.org/10.13106/jafeb.2020.vol7.no9.085   DOI
24 Suryanto, T., & Ridwansyah, R. (2016). The Shariah financial accounting standards: How they prevent fraud in Islamic Banking. European Research Studies, XIX(4), 140-157. https://doi.org/2016i4p140-157.   DOI
25 Pandya, V. U. (2018). Mergers and acquisitions trend: The Indian experience. International Journal of Business Administration, 9(1), 44-54. https://doi.org/10.5430/ijba.v9n1p44.   DOI