Disclosure Practices of Selected Multinational Corporations (Mncs) with Reference to International Accountins Standards S (Iass)

Abstract

Thispaperisonthedisclosurepracticesofsome selectedmultinationalcorporations withspecial referencetoInternational Ac counting Standards. Accountingisaninformationsystemandits ultimategoalistoaidtr.egroupsinterestedin corporate affairintheirdecision-makingbyprovidingrelevant information. This purposeisachievedthroughdisclosureorreportingofinformationmainlythrough published annualreports. Thispaperreviews the 20 selectedIASsand hawfartheyhavebeendisclosed by theMNCsselectedassample units,withreferencetodefinition , recognition, measurement and disclosurerequirements .Theauthorshave stressedon theconceptof disclosur eand itsneed inaccountin g and reporting,modesofdisclosure,determinants ofdisclosure and disclosurelevel bytlzeselectMNCs. Toachieve the seobjectives, theannualreportsoftheseMNCsforthe year2005-06havebeenanalyzedin responseto disclosure requirements oftlzeselectedIASs.Theattributes;sizeofthecompany,ageofthe company,listing status, profitabilityand residentialstatushavebeentakentostudyto seehaw theycorrelate with the disclosurescoreofthe selectedMNCs.ThoughMNCsoughttocomplywiththe disclos11rerequirementsof IASs, ithas beenobserved that not all havecompletely complied.