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E-ISSN : 2249 - 4642 | P-ISSN: 2454 - 4671



The Role of Reporting Service Franchise Arrangements in Improving the Quality of Financial Reporting

Alaa Saleh Abdallah, Dr. Salman Hussein Abdullah

Volume: 12 Issue: 4 2022


The current research aims to present and analyze the reporting requirements for service privilege arrangements according to interpretation SIC29, IFRIC12 and related standards, and to identify areas of deficiencies in relevant accounting practices in economic units, and to measure the role of reporting on these arrangements on the quality of financial reporting (qualitative characteristics of accounting information). The researchers reached a set of results, the most important of which was the operator's failure to recognize the infrastructure as a component of tangible fixed assets, because the contractual service agreement does not give the operator the right to use the assets, as the operator only has the right to access but does not have the right to use them, and therefore this criterion allows For users of accounting information to better understand who owns the infrastructure, The researcher made a number of recommendations, the most important of which was the need to develop the unified accounting system currently applied in the Iraqi economic units to reflect the appropriate treatments for service privilege arrangements and in line with the accounting concepts and principles adopted in international accounting standards. Seek to adopt international financial reporting standards and related interpretations and adapt them to the requirements of the local environment, especially the instructions of the unified accounting system, in a way that ensures the activation of sound accounting treatments related to service privilege arrangements. Federation, the Accounting Association, auditors and specialized academics in cooperation with international organizations.

DOI: http://doi.org/10.37648/ijrssh.v12i04.027

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