The Importance of Formulating International Accounting Standard for Electronic Accounting Information Systems

Mohammad N Al Harasees, Mohammad K Shbeilat


This study aims to investigate the importance of formulating a special accounting standard for electronic/computerized accounting information systems among the International Financial Reporting Standards (IFRS) from the perception of parties involved in the accounting profession. A questionnaire was developed and distributed to a sample of academicians of lecturers in accounting fields in the Jordanian universities, chief financial officers of the Jordanian listed companies, and Jordanian licensed auditors to explore their attitudes of establishing the computerized accounting information system standard. Out of 300 distributed questionnaires, 253 were returned, 3 of which uncompleted and excluded resulting of 250 usable survey instruments were included in the analysis. The results of the study and the study hypothesis were tested via Statistical Package for Social Sciences (known as "SPSS"). The study showed that the adoption of computerized accounting information systems positively impacts companies' performance whether big, medium, or even small sized entities. The study found that there is an interest among parties involved in accounting profession to issue standard that covers the scope and objectives of computerized accounting information systems, and contributes in solving any potential problems and deficiencies that may arise from the application of electronic systems such as the mechanism of revenue recognition and documentation.


Accounting Information Systems, International Financial Reporting Standards, Electronic systems, Formulating Accounting Standards, Revenue Recognition, International Accounting Standards Board.


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