https://ojs.umt.edu.pk/index.php/jfar <div class="row" style="text-align: justify;">The Journal of Finance and Accounting Research (JFAR) is a multidisciplinary international journal of the Department of Banking and Finance, Dr Hasan Murad School of Management (HSM), University of Management and Technology (UMT), Lahore, Pakistan. JFAR is committed to publishing high-quality studies in finance and related fields and is widely circulated, both nationally and internationally.&nbsp;Accounting, Finance &amp; Auditing are seen as essential components for the successful implementation of market-based development policies supporting economic liberalization in the rapidly emerging economies. JFAR publishes research articles and reviews within the whole field of&nbsp; Accounting, and it will continue to provide information on the latest trends and developments in this ever-expanding subject.</div> en-US <p style="text-align: justify;">JFAR follows an open-access publishing policy and full text of all articles is available free, immediately upon acceptance. Articles are published and distributed under the terms of the <a href="https://creativecommons.org/licenses/by/4.0/">Creative Commons Attribution 4.0</a> International License.&nbsp;Thus, work submitted to UMT Journals implies that it is original, unpublished work of the authors; neither published previously nor accepted/under consideration for publication elsewhere.&nbsp;On acceptance of a manuscript for publication, a corresponding author on the behalf of all co-authors of the manuscript will sign and submit a completed&nbsp;<a href="https://ojs.umt.edu.pk/index.php/jfar/libraryFiles/downloadPublic/19">Author Consent, Copyright, and Declaration Form.</a></p> [email protected] (Editorial Office JFAR) [email protected] (Editorial Assistant) Mon, 06 Oct 2025 00:00:00 +0000 OJS 3.1.1.4 http://blogs.law.harvard.edu/tech/rss 60 https://ojs.umt.edu.pk/index.php/jfar/article/view/2093 <p>The current study adopted a comprehensive approach by developing monthly Financial Stress Indices (FSIs) for emerging and developed countries. The study built indices for 20 emerging economies at the country, aggregate, and region levels from January 1997 to December 2016. Similarly, the study constructed monthly FSIs at country and aggregate levels for 23 developed countries, covering the period from January 1993 to December 2016. Principal Component Analysis (PCA) was applied to develop these FSIs. The study determined that political risk is crucial in systemic Financial Stress (FS) in emerging countries, whereas financial and economic risk contribute significantly more to FS in developed countries. The study's unique contribution is the inclusion of political risks in constructing stress indices alongside economic and financial risks. It underscores the importance of promoting regional policy coordination and reducing domestic vulnerabilities to maintain financial stability.</p> Haleema Sadia ##submission.copyrightStatement## http://creativecommons.org/licenses/by/4.0 https://ojs.umt.edu.pk/index.php/jfar/article/view/2093 Tue, 30 Sep 2025 00:00:00 +0000 https://ojs.umt.edu.pk/index.php/jfar/article/view/2191 <p style="text-align: justify;">The current study examined the introduction of International Financial Reporting Standard 18 (IFRS 18) and its implications for the future of financial performance reporting globally, with a focus on emerging economies, such as Nigeria. IFRS 18 represents a pivotal shift from previous reporting standards by mandating standardized presentation formats. This includes defined subtotals, such as operating profit and requiring disclosures of Management Performance Measures (MPMs). These changes aim to enhance transparency, comparability, and decision-usefulness of financial statements for investors and stakeholders. However, the implementation of IFRS 18 presents considerable challenges, including the need for extensive capacity building among preparers, auditors, and regulators, as well as the integration of new reporting technologies and systems. This study explored the conceptual foundations of IFRS 18 within accounting theory. Moreover, it also reviewed the practical challenges faced by firms and analysed the broader implications for corporate governance and investor confidence. Comparative insights from jurisdictions with advanced IFRS adoption provided valuable lessons for Nigeria and similar emerging markets. The study further proposed a roadmap for effective implementation, emphasizing regulatory support, professional training, and stakeholder engagement as critical success factors. Ultimately, IFRS 18 offered an opportunity to elevate financial reporting quality and foster sustainable economic development through improved corporate accountability and transparency. This article contributed to scholarly discourse by linking theoretical perspectives with practical solutions to facilitate the transition to IFRS 18.</p> Godwin Emmanuel Oyedokun, Ismaila Olotu Olotu Abdullahi, Phillip Oyesola Oyesola Oyedokun ##submission.copyrightStatement## http://creativecommons.org/licenses/by/4.0 https://ojs.umt.edu.pk/index.php/jfar/article/view/2191 Sun, 23 Nov 2025 00:00:00 +0000