Income statement disclosures: An international financial reporting standard compliance report of ten selected publicly listed corporations in the manufacturing industry

College

Ramon V. Del Rosario College of Business

Department/Unit

Accountancy

Document Type

Article

Source Title

DLSU Business and Economics Review

Volume

17

Issue

1

First Page

41

Last Page

54

Publication Date

1-1-2008

Abstract

This study focuses on compliance audit of ten selected publicly listed corporations in the manufacturing industry. It seeks to ensure that the submitted financial statements of a business entity are in accordance with applicable laws and regulations set forth in the Philippine Accounting Standards. The review's aim is to establish a recommendatory measure that may support the SEC and other bodies interested in promoting a more unified, synchronized financial report that may be easily understood; to facilitate evaluation; and to provide a uniform basis of financial reporting. As a supplement, it may be used as a tool to identify loopholes, differences, common pitfalls or omissions inadvertently exercised or encountered by business entities that submit reports peculiar to the manufacturing industry in general, and its area in particular.

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Digitial Object Identifier (DOI)

10.3860/ber.v17i1.35

Disciplines

Accounting

Keywords

Financial statements—Standards--Philippines; Accounting—Standards--Philippines

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