The Degree Commitment of the Jordanian Commercial Banks to Disclose The Requirements of International Financial Reporting Standard No. (7) on the Preparation Financial Reporting
Prof. Dr Abdul Naser Nour Assistant Aeshah Abdul sattar Al-Obaidi
This study aimed to identify the degree of Jordanian Commercial Banks commitment in disclosure requirements in International Financial Reporting Standard No. (7) on the preparation of financial reports.
To achieve the objectives of the study, the researcher analyzed the financial statements for ten Jordanian Commercial banks of varions sizes in the Amman Financial Market. In light of this the collection and analysis of data the hypotheses were tested using the Statistical Package for Social Sciences SPSS.
Several statistical methods were used to achieve the objectives of the study and after
1. The overall disclosure Percentage of the components of the international standard No. (7) for the commercial banks in Jordan amounted to (81.842%).
2. There is no statistical significant difference regarding the nature and limits of information disclosure for financial statements (income statement, financial position statement , stockholders equity statement and cash flow statement) related to the difference in bank capital or number at statistical significance level (0.05).
The study recommended the following:
1. Complionce of Jordanian commercial banks to disclose undisclosed items in the financial statements (income statement , financial position statement , stockholders statement and cash flow statement).
2. Conducting a study on the application of accounting measurement concerning (IFRS No. "7").
3. The Securities Commission to review and analyze the information contained in banks financial reports to determine their adequacy, with the imposition of penalties and fines on noncomplying banks .