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Journal articles (2009), Comptabilité, Contrôle, Audit, 15 (1), pp. 105-132

IFRS 1: "Il faut tout changer pour que rien ne change"


To facilitate comparability between financial statements, IFRS 1 requires first-time adopters to present at least one year of comparative financial statements, which must be adjusted for full compliance with IFRS. However, some adjustments are mandatory while others are optional. In this paper we investigate the choices made by French listed firms (SBF 120 index) in preparing their comparative financial information. We show that the impact of the transition to IFRS on the key figures is fairly limited, but this apparent stability is in fact due to firms' accounting choices, and the use of IFRS 1 options to offset the effects of mandatory adjustments. French firms use optional exemptions to minimize the gap between equity under French GAAP and equity under IFRS, and to mask their leverage.

JENY, A. and JEANJEAN, T. (2009). IFRS 1: "Il faut tout changer pour que rien ne change". Comptabilité, Contrôle, Audit, 15(1), pp. 105-132.

Keywords : #Choix-comptable, #IFRS