The Impact of Implementation of Amending Egyptian Accounting Standard No. 13 of 2022 on Financial and Market Performance Indicators Applied Evidence from the Egyptian Exchange

Document Type : Original Article

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FaLecturer in the Accounting Department, Faculty of Commerce, Suez Canal University Assigned to the College of Administrative Sciences - King Salman International University, Sharm El-Sheikh branchculty of Administrative Sciences, KSIU

Abstract

The study aimed to analyze the impact of the amendment of the Egyptian Accounting Standard No. 13 of 2022 on the financial and market performance indicators of the companies' shares by applying to companies joint the Egyptian exchange. The study analyses the content of the quarterly financial reports for the quarter ended June 30, 2022 as well as the annual reports for 2022 with the aim of measuring the impact of the adjustment of the Egyptian accounting standard for exchange rate changes by adding the supplement (B) In April 2022, both the Company's financial performance was expressed as the Company's profitability and earnings per share, as well as the Company's market performance expressed as the market value measured by the Tobin's Q Index. The study followed the applied study curriculum and selected a sample of (40) companies.
The study found a positive and statistically significant effect of applying the Egyptian Accounting Standard Amendment No. (13) For the year 2022, both the profitability of Egyptian joint stock companies and the profitability of shares as indicators of financial performance; There is also a positive and statistically significant impact on market performance, indicating high market performance in response to these companies applying the adjustment compared to those companies that have not applied the adjustment.

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