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Teaching IFRS in the UK: contrasting experiences

Stoner, G., and Sangster, A. (2013) Teaching IFRS in the UK: contrasting experiences. Issues in Accounting Education, 28 (2). pp. 291-307. ISSN 0739-3172 (doi:10.2308/iace-50357)

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Abstract

This paper discusses the impact of the increased importance of International GAAP in the U.K. Higher Education teaching and learning environment. This change was caused by the increased harmonization of accounting standards during the first decade of the 21st Century, and, in particular, the adoption within the European Union (EU) of IFRS for fully listed companies in 2005 and other listed companies soon after. After outlining the nature and diversity of accounting education and its relationship to the U.K. accounting profession we discuss the approaches taken in a range of U.K. accounting degree programs and how U.K. faculty and students adapted to the change from U.K. GAAP to IFRS. The UK university sector is divided into 'old' universities, often referred to as the 'research universities', and the 'new' universities, those founded in or after 1992, the 'teaching universities'. We conclude that despite various troublesome adjustments in terminology, definitions, and layout, for different reasons the different groups of faculty have generally not had to undergo excessive adjustments in their teaching in order to embed IFRS. We conclude by acknowledging the limitations of our research and with some indications of lessons for others who face the transition to IFRS in future.

Item Type:Article
Status:Published
Refereed:Yes
Glasgow Author(s):Sangster, Prof Alan and Stoner, Mr Gregory
Authors: Stoner, G., and Sangster, A.
College/School:College of Social Sciences > Adam Smith Business School > Accounting and Finance
Journal Name:Issues in Accounting Education
Publisher: American Accounting Association
ISSN:0739-3172
ISSN (Online):1558-7983
Published Online:2012

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