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Compliance With Consolidation (Group) Accounting Standards-The Vertical Adjustment Issue: A Survey of Swedish Multinationals
Linkoping University. (Accounting)
Åbo Akademi, School of Business Administration. (Accounting)
Bilkent University, Faculty of Management, Ankara, Turkey. (Accounting)
2007 (English)In: Journal for Global Business Advancement, ISSN 1746-966X, Vol. 1, no 1, 37-48 p.Article in journal (Refereed) Published
Abstract [en]

Previous research into consolidated financial reporting of multinational companies has focused on horizontal adjustments, adjustments at the headquarters level to comply with accounting standards of the country where a stock exchange listing is made, e.g. US GAAP, or IFRS. An equally, if not more, important issue is vertical adjustments made by foreign subsidiaries when information is transmitted to the headquarters for consolidation. This study surveys all Swedish multinational companies listed on the Stockholm Stock Exchange, firstly in the early 1990s and again some 10 years later to determine whether vertical adjustments were made as an indicator of compliance with Swedish accounting standards. The results indicate that while most Swedish multinational companies made vertical adjustments, the large number that did not indicates a potentially high degree of non-compliance with accounting standards. In all cases, though, the companies claimed they had complied and their auditors concurred.

Place, publisher, year, edition, pages
Geneva: Inderscience , 2007. Vol. 1, no 1, 37-48 p.
Keyword [en]
accounting standards compliance, consolidated financial reporting, group accounting, multinationals, subsidiary reporting, vertical adjustments, Sweden, MNCs, foreign subsidiaries
National Category
Business Administration
Identifiers
URN: urn:nbn:se:hj:diva-14035DOI: 10.1504/JGBA.2007.012548OAI: oai:DiVA.org:hj-14035DiVA: diva2:381019
Available from: 2010-12-22 Created: 2010-12-22 Last updated: 2011-08-29Bibliographically approved

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CiteExportLink to record
Permanent link

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Cite
Citation style
  • apa
  • harvard1
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf