Study the readiness to use the International Financial Reporting Standards (IFRS) of the accounting staff throughout the banks

In this study, the research team studied the topic: "Readiness to use the International Financial Reporting Standards of accountants throughout the Banks" which research aims to research 3 objectives: Study...

Abstract

In this study, the research team studied the topic: "Readiness to use the International Financial Reporting Standards of accountants throughout the Banks" which research aims to research 3 objectives: Study the awareness of International Financial Reporting Standards of accounting staff throughout the banks; Evaluate the level of preparedness in transitioning to use  International Financial Reporting Standards of accounting staff throughout the banks and Study the Obstacles and Challenges faced by accounting staff throughout the banks in preparing for  use the International Financial Reporting Standards. Which in this study is a quantitative study (Quantitative Research) by using data from the Bank of Lao PDR, commercial banks and primary data from the distribution of all questionnaires total of 400 copies to accountants throughout the Banks, After collecting the data and verifying the complete accuracy of the actual data, the analysis was carried out with descriptive statistics, reference statistics and summarizing the results of the study by using the SPSS program to find frequency values, percentage values, statistical average values, standard deviation values ​​and hypothesis testing.

            The results of the study found that: 50.8 percent of respondents are female, most of them are between 25-35 years of age, most of them have graduated with a bachelor's degree, they have a degree in business administration, they have a position as a technical staff, they have work experience from 10 years and above and they have never participated in training on international financial reporting standards, accounting for 80.5 percent. The results of the study on the level of awareness of accountants to international financial reporting standards are in the range between low and very low level. Regarding the results of the study on the readiness to use the international financial reporting standards of the accountants throughout the banking system, it is seen that the accountants are ready at many levels, which include: basic knowledge of accounting; Professional skills; willingness to accept change; Contributing to the continuous learning of personnel). For the results of the database test to compare the differences between individual factors that affect the readiness to use the international financial reporting standards of accounting staff throughout the banks Includes: gender and participation in training with P-value = 0.014 and 0.016 respectively, For personal factors that affect the readiness to use international financial reporting standards of accounting staff throughout the banks include: age, education level, field of graduation, position, work experience. Obstacles in preparing for the transition to the use of international financial reporting standards for accountants Includes: training, basic system tools, IFRS reporting system is complex, lack of experience and Challenges in preparing for assembly There is: Knowledge and ability of personnel, accounting system, technical equipment, tools, policy, economy etc.