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Are Components of Reconciliations to International Financial Reporting Standards useful to Investors?
John Goodwin,
The Hong Kong Polytechnic University
Kamran Ahmed, La Trobe University
Richard Heaney, RMIT University
ABSTRACT. This study examines the value relevance of original and revised reconciliations from Australian GAAP to International Accounting Standards (IFRS). The study shows that the share based payment, intangibles, provisions and impairment adjustments to IFRS are value relevant but not consistent with the way the market perceives these components. The study also shows that components in original reconciliations are more market value relevant than components in revised reconciliations. Revised components generally do not change inferences about market value relevance made from original reconciliations. Results from non market value relevance are mixed.
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