The study employs the survey questionnaires in gathering information from the respondents on significant items that should be listed under IFR disclosure index checklist. Based on an extensive literature review, the level of IFR in this study is divided into two, namely, content dimension and presentation dimension. The results indicate that income statement of the current year is the most important items in content dimension.
The result of the International Journal of Business and Management; Vol. March 3, Accepted: April 4, Online Published: May 22, doi: Due to its growth, IFR has attracted the interest of researchers.
However despite the fact that much research have been carried out, the understanding of the level of IFR is still vague. The study was an evaluation of the level of IFR focusing on a developing country, Malawi. The study used content analysis methodology and an IFR index in examining and measuring the level of IFR among the listed companies in Malawi.
Furthermore, the companies were generally using the traditional PDF format which lacks flexibility in terms of financial information manipulation that aid decision-making by the users. The results suggest underutilisation of IFR by the companies, thus more needs to be done to enhance IFR among the listed companies in Malawi.
Preparers need to be aware of what IFR entails and the professional bodies need to provide the required guidance of the IFR framework. Among various types of information the current study focuses on financial information which is basically disclosed through financial reports prepared by the companies.
These reports play an essential role as they reflect the efficiency and effectiveness of the management of the organisation and the work being done by the organisation Salawu, Joint stock companies are therefore utilising it to enhance transparency of their operations through the provision of useful financial and non-financial information Pervan, Presently, the use of the Internet has provided a new way for companies to communicate with current and International Journal of Business and Management Vol.
The internet is offering the potential for companies to reach a wider range of users without time limits, or boundaries Khan, Thus the major advantage of the Internet is its flexibility, which, however, that also creates a disadvantage for credibility and authenticity Wagenhofer, It is however recognised that the benefits of Internet outweigh the disadvantages hence almost every company maintains its website, especially in developed countries as evidenced in literature Salawu, The development of Internet has resulting in the evolution of financial reporting from the conventional means of the printed annual reports to the modern Internet Financial Reporting IFR Al-Htaybat et al.
IFR is proving advantageous not only to the company but to all stakeholders. It is evident that IFR is more than a viable alternative to paper-based form of reporting Salawu, However, at the moment Salawu noted that the content, extent and format of disclosure on the website are yet to be standardized as a result different companies are adopting different financial reporting practices.
Thus more research is needed focusing on understanding the level and format of IFR with the aim of improving and standardising the practice. The study was therefore aimed at empirically evaluating the extent of IFR focusing on a developing country, Malawi.
To the best of the knowledge of the author the extent and forms of IFR by the quoted companies in Malawi is yet to be ascertained. The study extends the evidence of the extent IFR practices and in the process broadens the understanding of the same and enriches literature.
Besides, the study informs the practitioners in Malawi of the status and gaps that needs filling in order to realise the benefit of IFR.
|Conscientia Beam || urbanagricultureinitiative.com||The result of this study provides evidence that the level of disclosure in NPOs is low.|
The rest of the paper is structured as follows. The section two reviews the existing studies and followed by section three that discuses the research methodology. Section four presents the results and resultant discussion and finally section five gives the concluding remarks.
Kumar and Jain attributed less cost and high benefits accruing to the companies as contributory factors to the increasing Internet use in communicating financial and non-financial information. The usage of Internet in disseminating financial information has as a resulted attracted interest of numerous researchers.
This section presents the prior studies dealing with the extent, content and presentation of IFR from different countries. In Jordan, Momany and Al-Shorman investigated the extent of financial reporting on the internet of the companies in Jordan listed in the first market on Amman Stock Exchange for the year It was further found that about The study sampled all 65 companies quoted on the first market of ADX.
The companies were divided into ten sectors based on ADX classification.
Salawu endeavoured to determine the extent and form of internet financial reporting by the quoted companies in Nigeria. The findings of their descriptive analysis indicated that 24 out of 26 examined companies had websites; out of which 20 were providing financial information on their websites.
In Croatia an investigation was also carried out on a basic sample of 38 joint stock companies quoted on Croatian bourses by Pervan The results showed that twenty of the companies made use of Internet financial reporting and eighteen had no such practice. The results revealed that the level of IFR of quoted companies were within the range of The results indicated that the overall level of IFR of the quoted companies was good.An empirical study on the indexes of internet financial reporting: the case of Malaysia By Mohd Noor Azli Ali Khan and Noor Azizi Ismail .
The Empirical Study of Burnout Among Nurses of Public Hospitals in the Nothern Part of Malaysia A Case Study of Taiwan Financial Services Personnel Journal of International Management Studies @ All Rights Reserve d. Items where Year is Up a level Accountant's perception on the factors affecting the adoption of international financial reporting standards in Yemen.
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The development of Internet has resulting in the evolution of financial reporting from the conventional means of the printed annual reports to the modern Internet Financial Reporting (IFR) .