http://www.researchonline.mq.edu.au/vital/access/services/Feed ${session.getAttribute("locale")} 5 http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:23942 International Financial Reporting Standards (IFRS) and the related materials have been translated into more than forty languages, with the implicit assumption that worldwide adoption of (the translated) IFRS can enhance the comparability of financial information. However, increasing the number of languages in which accounting standards are issued may increase the likelihood that users of the translated standards will disagree on the meanings of the accounting concepts used. The objective of this paper is to examine the influence of translation and context on judgments of Chinese accounting students. A within-subject experimental instrument was designed, which contained a case of consolidated financial reporting. Subjects were required to exercise their judgments on the essential consolidation criterion, namely, one entity's control over another entity in English and Simplified Chinese language settings. This study has significant implications for the ongoing international accounting convergence with particular reference to enhancing the comparability of consolidated financial reporting across countries. 2013-01-29T16:21:45.137Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:23065 Purpose: This paper examines International Accounting Standard 27 (IAS 27) ‘Consolidated and Separate Financial Statements’, which contained one of the most important and controversial issue. The essential consolidation criterion, namely, one entity’s ‘control’ over another entity is consistently defined as “the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities”. The objective of this study is to empirically examine the influence of contextual factor relating to financial performance of associated entity and personality variable on the basis of regulatory focus theory on judgments of accounting students in an Australian university relating to the consolidation criterion. This research question has been addressed by a 2 x 2 between-subject quasi-experimental research instrument. This study provides empirical evidence that context and personality are important in influencing judgments of accounting students in interpreting and applying the consolidation criterion contained in IFRS. Practical and Social implications: This study has significant implications for the ongoing international accounting convergence with particular reference to enhancing the comparability of consolidated financial reporting across countries. The results also have implications for improving learning and teaching of accounting to university students. 2012-11-28T02:23:08.304Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:15276 International convergence of financial reporting with adoption of International Financial Reporting Standards (IFRS) by more than 120 countries has increasingly been recognized as an important and controversial topic. The International Accounting Standards Board (IASB) is largely responsible for developing IFRS and the approach adopted by the IASB for developing IFRS is called ‘substance over form’. This approach requires accountants exercising their judgments in interpreting and applying IFRS. Implicit in the drive for worldwide adoption of IFRS is the belief that a single set of accounting standards will result in a greater level of comparability across countries, and importantly, the IASB assume that accounting standards are neutral and value free. However, a single set of accounting standards may not be sufficient to ensure that accountants in different countries consistently interpret and apply standards in the same way and consequently comparability may be impaired. As such, this paper empirically examines influences of culture and personality variables on judgments of Australian and Chinese accountants relating to the preparation of consolidated financial statements. 2011-10-06T10:10:08.197Z ]]>