Analysis of financial reporting in Lithuania

Mackevicius, J. and Zverovich, S. (2007) Analysis of financial reporting in Lithuania. In: 5th International Conference on Accounting, Athens, Greece, July 2007.

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Abstract

The adoption of the International Financial Reporting Standards (IFRS) is supported in many countries inside and outside the European Union because it may improve the quality and comparability of financial reporting. In addition to the use of IFRS by listed companies and in some countries also by unlisted companies, many countries have developed their own national accounting standards based on the international ones. Although the national standards are based on IFRS, they are not identical. This paper analyses financial reporting in Lithuania and the Lithuanian Business Accounting Standards (LBAS) for the preparation and presentation of financial statements. Moreover, it discusses the main differences and similarities between International Accounting Standard 1 ‘Presentation of Financial Statements’ and the first six LBAS related to the preparation and presentation of financial statements in Lithuania

Item Type:Conference or Workshop Item (Paper)
Uncontrolled Keywords:IFRS, LBAS, financial reporting, European Union,
Faculty/Department:Faculty of Business and Law > Department of Accounting, Economics and Finance
ID Code:12629
Deposited By: Dr S. Zverovich
Deposited On:09 Dec 2010 12:07
Last Modified:13 Aug 2013 08:12

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