IFRS initial implementation has been a topic of several researches, cause the implementation is true in more and more countries when it be-comes mandated. However, only a few researches have focused on im-plementing the latter huge changes to the standards. These changes are as true to all IFRS applying companies as the initial implementation to those companies publicly listed in IFRS mandated stock exchange mar-kets. Most of the articles focusing on the up-coming changes have taken the perspective to count the new key figures in accordance of the current accounting way. This study aimed to take into consideration the possibility to change group policies with the purpose to make the key figures to look better and to apply the new standard in most valuable way. The sugges-tion for future research is to study more how much management decisions are really affected by IFRS regulation changes. In this study the case company was willing to calculate the lease policy change’s possible effect on the balance sheet and consider more efficient ways of funding the business instead if needed. It would be interesting to study how regularly do companies consider to change their policies and processes in accor-dance on the IFRS change instead of just adjusting the accounting ways.
The second recommended future research objective would be to dick deeper how much the accounting process models help accounting effi-ciency. Since the process format was made during this case study, the next topic would be to test this toll in the future project in order to notice the improvement in the quality. TQM approach is more used in business process evaluation such as manufacturing processes, but as the thepry points out also smaller and strategically less important processes are im-portant to map out. For this reason it would be imim-portant to research closely process orientated management’s advantages also in accounting function.
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Appendix
E-mail interview
1) Where do you receive information about IFRS and IFRS changes?
2) Would you describe your IFRS knowledge to be in professional level?
3) How do the IFRS requirements effect on your work duties?
4) Would you be interested to get more information about the IFRS?
5) Which channels are used internally to publish IFRS news?