Research on Factors Affecting the Application of the International Financial Reporting Standards (IFRS): Case Study the IFRS 15 in Vietnam

Abstract

This study aims to present the impacts of factors affecting the application of the International Financial Reporting Standards – case study IFRS 15 "Revenue from Customers' contracts” in Vietnam. The writing used the regression model after having tested Cronbach Alpha scale and Exploratory Factor Analysis (EFA) to see the effects of each factor on the application of the International Financial Reporting Standards (IFRS15) in Vietnam. The result of research has shown that there are 04 factors such as economic growth, factors of politics, culture and jurisdiction, and the characteristics of enterprises and capital source, business owner's awareness and the qualification of accountants which have a positive relationship with the application of International Financial Reporting Standards (IFRS). Simultaneously, the result of model testing shows the IFRS application, inside, the IFRS 15 application, which affects positively the benefits of the IFRS application into Vietnam.