Effects and Implications of Kazakhstan's Adoption of International Financial Reporting Standards


Book Description

?Despite having an underdeveloped supporting infrastructure and limited resources, Kazakhstan was the first CIS country to require international financial reporting standards in 2004 for banks, and in 2005 for all public companies. What were the economic consequences of this important reform? In the 1990s, Kazakhstan’s capital market reforms mirrored those of Russia due to the two countries’ cooperating mode driven by a high level of resource interdependence and environmental uncertainty, following the collapse of the Soviet Union. Yet, by 2003, dependence on external donors (the IMF, World Bank) took precedence over interdependence with Russia. As a result, Kazakhstan unilaterally proceeded with adoption of IFRS, while Russia backed up from this initiative. This study reports that Kazakhstan’s inflow of foreign direct investments was the greatest among the CIS nations following the adoption of IFRS. In addition, in 2005–11, Kazakhstani public firms’ reporting quality was higher than that of the Russian public firms operating in a similar environment but exempt from the IFRS reporting requirement. Kazakhstan was the first CIS nation to repay its external debt ahead of schedule and to receive an investment grade from Moody’s rating agency. The book concludes that Western-style capital market reforms—in this emerging market with a not-so-distant communist past—had significantly positive outcomes.?




International Financial Reporting Standards Implementation


Book Description

Contributions to International Accounting aims to address a vital gap in research by focusing on providing relevant and timely studies on International Financial Reporting Standards implementation for local and international policymakers.




Transregional versus National Perspectives on Contemporary Central European History


Book Description

This volume compares different regional perspectives on the national and democracy-building aims of individual states. It confronts discourses about national states to regional perspectives on the past as well as the current political and social landscape. Why are we observing calls for national identity right now? What are the roots of this development? How can a Central European identity be shaped when national perspectives are prevalent? The book’s first part analyses social and political processes that shaped nation-states in the Central European region and shows divergent trends of individual states when it comes to defining a regional approach of the Visegrád Group (Poland, Czech Republic, Slovakia, Hungary = V4). The second part focuses on key personalities of the 20th century history of individual V4 countries in the light of their perception in the neighbouring states and how they shaped national states as well as identities after the end of World War II. Similar aims and approaches implemented by individual countries often led to anything but raising regional understanding. The book’s third part reflects upon activities of various initiatives aiming to approach this challenge from the perspective of civil society, and Central Europe’s young generation. The collection brings together leading historians of Central Europe from the V4 countries. It also offers external perspectives on historical developments in Central Europe from the perspective of the 21st century and on political cooperation as well as its roots. Lastly, it includes practitioners of Central European cooperation from both academia and civil society, and their reflection on their countries’ political cooperation after 1989.




Islamic Accounting And Finance: A Handbook


Book Description

Islamic finance is one of the fastest-growing sectors in international banking and finance. Owing to the increasing availability and ease of access to Islamic services, Islamic finance has become increasingly important not only in Muslim countries, but around the world, making it a global industry. Under the Gulf Cooperation Council (GCC) as well as in some regions, such as the Middle East and North Africa, a dual financial system is implemented, where Sharia-compliant products are marketed alongside conventional financial systems.In this thoroughly researched collection of chapters, researchers from around the world examine the role of Islamic finance in the economies and prospects of different companies. They discuss Islamic finance literature from both theoretical and empirical perspectives. The theoretical section of the book consists of conceptual chapters that enable readers to critically evaluate and expand their understanding of accounting and finance. The chapters in the empirical section of this handbook discuss and interpret empirical evidence to provide clear implications for practice, research, and society. This section bridges the gap between theory and practice and offers suggestions for future research. Islamic Accounting and Finance is geared towards scholars and students, but it is also of use to banking and finance practitioners.




Achieving Global Convergence of Financial Reporting Standards


Book Description

This research monograph examines whether International Financial Reporting Standards (IFRS) are interpreted and applied in a consistent manner within and across countries, and questions the implicit assumption that accounting convergence will automatically lead to comparability in financial reporting.




Economics and Political Implications of International Financial Reporting Standards


Book Description

International Financial Reporting Standards (IFRS) are internationally-recognized financial reporting guidelines regulated by the International Accounting Standards Board (IASB) to ensure that uniformity exists in the global financial system. In addition to regulating financial reporting, the adoption of IRFS has been shown to impact the flow of foreign capital and trade. Economics and Political Implications of International Financial Reporting Standards focuses on the consequences and determinants of the adoption of the International Financial Reporting Standard (IFRS), which has remained a top issue in International Accounting. This timely publication brings to the forefront issues related to the political and economic influences and impacts of IFRS in addition to providing a platform for further research in this area. Policy makers, academics, researchers, graduate-level students, and professionals across the fields of management, economics, finance, international relations, and political science will find this publication pertinent to furthering their understanding of financial reporting at the global level.




The Russian Path


Book Description

The politico-economic reforms launched during the late twentieth century in post-Soviet Russia have led to contradictory and ambiguous results. The new economic environment and mode of governance that emerged have been subjected to serious criticism. What were the causes of these developments? Were they unavoidable for Russia due to specific factors grounded in the country’s previous experiences? Or were they an intended result of actions taken by the leaders of the country during the last few decades? The authors of this book share neither a deterministic approach, which implies that Russia is bound to fail because of the nature of its economic and political evolution, nor a voluntarist approach, which implies that these failures were caused only by the incompetence and/or malicious intentions of its leaders. Instead, this study offers a different framework for the analysis of political and economic developments in present-day Russia. It is based on four ‘i’s—ideas, interests, institutions, and illusions.




Russian Voices on Post-Crimea Russia


Book Description

Russia has changed dramatically since the beginning of this decade. This volume presents a unique collection of articles by Russian scholars and experts, originally published in Russian in the journal Kontrapunkt (Counterpoint). The authors include Yulia Bederova, Andrey Desnitsky, Maria Eismont, Aleksandr Gorbachev, Tatiana Nefedova, Ella Paneyakh, Sergey Parkhomenko, Nikolay Petrov, Kirill Rogov, Sergey Sergeev, Ekaterina Sokiryanskaya, Andrey Soldatov, Svetlana Solodovnik, Anna Tolstova, Aleksandr Verkhovsky, and Natalia Zubarevich. Their essays cover a broad range of subjects from the Russian political scene and state-society relations to the politics of culture and the realm of ideas and symbols. These contributions offer fascinating insights into Russia’s multifaceted and complex development after the annexation of Crimea in 2014.




Civil War? Interstate War? Hybrid War?


Book Description

This volume of collected papers takes stock of what has become known about the war in eastern Ukraine’s Donets Basin (Donbas) between April 2014 and mid-2020. It provides an introduction to the conflict and illustrates the key point of contention in the academic debate surrounding it—the question whether this war is primarily an internal Ukrainian phenomenon or the result of a covert Russian invasion. The contributions by recognized specialists from Ukraine, Russia, Germany, and Japan offer multifaceted views and insights into this long-lasting conflict for both expert readers and those who are new to the topic. The volume’s contributors are Tymofii Brik, Jakob Hauter, Sanshiro Hosaka, Yuriy Matsiyevsky, Nikolay Mitrokhin, Maximilian Kranich, and Ulrich Schneckener.




Geopolitical Imagination


Book Description

In his timely book, Mikhail Suslov discusses contemporary Russian geopolitical culture and argues that a better knowledge of geopolitical concepts and fantasies is instrumental for understanding Russia’s policies. Specifically, he analyzes such concepts as “Eurasianism,” “Holy Russia,” “Russian civilization,” “Russia as a continent,” “Novorossia,” and others. He demonstrates that these concepts reached unprecedented ascendance in the Russian public debates, tending to overshadow other political and domestic discussions. Suslov argues that the geopolitical imagination, structured by these concepts, defines the identity of post-Soviet Russia, while this complex of geopolitical representations engages, at the same time, with the broader, international criticism of the Western liberal world order and aligns itself with the conservative defense of cultural authenticity across the globe. Geopolitical ideologies and utopias discussed in the book give the post-Soviet political mainstream the intellectual instruments to think about Russia’s exclusion—imaginary or otherwise—from the processes of a global world which is re-shaping itself after the end of the Cold War; they provide tools to construct the self-perception of Russia as a sovereign great-power, a self-sufficient civilization, and as one of the poles in a multipolar world; and they help to establish the Messianic vision of Russia as the beacon of order, tradition, and morality in a sea of chaos and corruption.