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http://dx.doi.org/10.13106/jafeb.2020.vol7.no3.17

Determinants Influencing the Conversion of Financial Statements: The Case of Multinational Firms in Vietnam  

TRAN, Manh Dung (National Economics University)
NGO, Thi Tuyet Mai (School of Trade and International Economics, National Economics University)
PHAN, To Uyen (School of Trade and International Economics, National Economics University)
DO, Duc Tai (Department of Accounting, University of Labor and Social Affairs)
PHAM, Thi Thuy Hang (Department of Economics, Vinh University)
Publication Information
The Journal of Asian Finance, Economics and Business / v.7, no.3, 2020 , pp. 17-27 More about this Journal
Abstract
The research aims to investigate the impact levels of determinants on the conversion of financial statements from Vietnamese accounting standards (VAS) to International financial reporting standards (IFRS) in the multinational firms in Vietnam. The method of data collection was done through the survey and subjects are accountants in Multinational Firms doing business in Hanoi and ten neighboring provinces. After checking the information on the votes, there are 170 questionnaires with full information for data entry and analysis. We use Cronbach's Alpha, EFA analysis and run regression model to investigate the impact levels of each independent variable on dependent variable of the conversion of VAS financial statements to IFRS. The results show that five determinants including Economic, Politics, Law, Culture, and Conditions for implementation have positive relationships with the conversion of VAS financial statements to IFRS. In particular, Economic determinant is the most strongest. Based on the findings, some recommendations are given for improving the conversion of VAS financial statements to IFRS of multinational firms doing business in the context of Vietnam. The results are considered a useful reference for firms when making financial statements to transparently change the financial statement information and improve the quality of financial statement information.
Keywords
Financial Statements; IFRS; Vietnamese Accounting; Multinational Firms;
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Times Cited By KSCI : 2  (Citation Analysis)
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