Title: Attribute differences between USGAAP and IFRS earnings: An exploratory study
Authors: Van der Meulen, S.
Gaeremynck, Ann
Willekens, Marleen
Issue Date: 2005
Publisher: K.U.Leuven - Faculty of Business and Economics
Series Title: FBE Research Report 0511
Abstract: With the successful completion of the IASC's standards, IFRS and US GAAP were placed as the two pre-eminent world financial reporting frameworks. For years, however, US GAAP was accepted widely as the international set of standards to ensure high quality financial statements. Especially in the US, but also elsewhere, the introduction of IFRS has lead to a discussion on the (relative) quality of both regimes. However, relatively little research has been devoted to the subject. In this study, we address that void and further compare the quality of the two standard regimes using a sample of German New Market firms. Financial statement quality is measured applying multiple earnings attributes traditionally used in accounting research. Consistently throughout our measures, we find that the quality of US GAAP prepared financial statements and IFRS information is overall very comparable. Only with regard to predictive ability of accounting information do we find US GAAP superiority.
Publication status: published
KU Leuven publication type: IR
Appears in Collections:Research Center Accountancy, Leuven

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