Effects of IAS/IFRS Implementation on the Quality of the Financial Performance Management

Abstract

The aim of the paper is to identify statistically significant differences that arise during the transition of the reporting method. in accounting of assets and liabilities and selected financial indicators in Slovakia and the Czech Republic. We choose Slovak and Czech companies that changed their accounting system in the period under review. We analysed the obtained data using JASP statistical software. Based on several statistical tests, we present in the results the statistical significance of differences between accounting systems-national accounting systems in both countries and IAS/IFRS. We also visualize the percentage change in differences using a box plot. Among the relevant outputs that we found based on research are the results of the test of the statistical significance of percentage changes in accounting items and financial indicators, which have typified in the existing percentage statistical differences. There are also logical relationships between the arranged pairs, which result from the construction of financial indicators. Information from the contribution could serve as evaluation of the financial performance of the various types of companies, regarding IFRS, as well as for providing of financial securities of the companies, contributing to the quality of the company’s management. The limitation of the research is difficulty to obtain data, there is only small amount of historical data to evaluate the situation.