A Meta-Systematic Review of the Literature on Accounting and Financial Reporting: A Comparison of Russian and International Practices

Mikhail V. Rodchenkov

Lomonosov Moscow State University, Higher School of Management (CQE), Moscow, Russia

Abstract

Objectively assessing and recognizing the contribution of national authors, universities, and research centers to the overall professional knowledge base in accounting and financial reporting, which forms the basis of economic scientific thinking, is crucial for motivating researchers and policymakers to improve the quality of their work within the global academic community. Therefore, it is scientifically interesting to disperse the results of publications on accounting and reporting from Russian and international practices. The aim of this study is to obtain and compare the results of a meta-systematic review of previous reviews on IFRS development, financial reporting and accounting, contrasting Russian and foreign viewpoints. The study hypothesizes that the results of bibliometric analysis in the field of accounting and reporting will vary depending on different levels of information technology, the analytical training of authors and the types of reviews. The methodology employs meta-systematic analysis using STATA algorithms and specialized VOSviewer software for network and graphical analysis. Drawing on quantitative metrics from 30 reviews and 2,670 citations from publications, a significant difference was found in the results of the meta-systematic review. The most pronounced discrepancies relate to review productivity indicators and the capacity to apply modern methods of scientific knowledge to target subject areas. These findings reveal systemic shortcomings in Russian research practices and dissemination of results internationally. Addressing these challenges will inform management decisions aimed at improving the national accounting and reporting system. Ultimately, this study supports the establishment of a framework to enhance the international visibility of Russian research, increase research efficiency, and improve the quality of systematic reviews in targeted accounting and financial reporting topics.

Keywords

systematic literature review; IFRS; meta-analysis; accounting; financial reporting; meta-systematic literature review.

JEL classification

References

1. Malofeeva, T.N. (2018). The impact of IFRS adoption on earnings management in Russia. European Research Studies Journal, Vol. 21, Issue 2, 147–164. https://doi.org/10.35808/ersj/991

          2. Flower, J., Ebbers, G. (2002). Global Financial Reporting. New York, NY, Palgrave, 677 p. https://doi.org/10.1007/978-1-137-10538-7

          3. Lavrik, O.L., Kalyuzhnaya, T.A., Pleshakova, M.A. (2019). Systematic review as type overview-analytical products. Bibliosphere, No. 2, 33–51. (In Russ.). https://doi.org/10.20913/1815-3186-2019-2-33-51

          4. Bahoo, S., Alon, I., Paltrinieri, A. (2020). Sovereign wealth funds: Past, present and future. International Review of Financial Analysis, Vol. 67, 101418. https://doi.org/10.1016/j.irfa.2019.101418

          5. Fetscherin, M., Voss, H., Gugler, P. (2010). 30 Years of foreign direct investment to China: an interdisciplinary literature review. International Business Review, Vol. 19, Issue 3, 235–246. https://doi.org/10.1016/j.ibusrev.2009.12.002

          6. Gaur, A., Kumar, M. (2018). A systematic approach to conducting review studies: an assessment of content analysis in 25 years of IB research. Journal of World Business, Vol. 53, Issue 2, 280–289. https://doi.org/10.1016/j.jwb.2017.11.003

          7. De George, E.T., Xi, L., Lakshmanan, S. (2016). A review of the IFRS adoption literature. Review of Accounting Studies, Vol. 21, 898–1004. https://doi.org/10.1007/s11142-016-9363-1

          8. Deb, R., Nepal, M., Chakraborty, S. (2023). IFRS and Audit Quality: A Systematic Literature Review. Management and Labour Studies, Vol. 48, Issue 1, 118–138. https://doi.org/10.1177/0258042X221106617

          9. Ball, R. (2006). International Financial Reporting Standards (IFRS): pros and cons for investors. Accounting and Business Research, Vol. 36, Issue sup1: Special Issue: International Accounting Policy Forum, 5–27. https://doi.org/10.1080/00014788.2006.9730040

          10. Dumay, J., Bernardi, C., Guthrie, J., Demartini, P. (2016). Integrated reporting: a structured literature review. Accounting Forum, Vol. 40, Issue 3, 166–185. https://doi.org/10.1016/j.accfor.2016.06.001

          11. Wolf, T., Kuttner, M., Feldbauer-Durstmuller, E. B., Mitter, C. (2020). What we know about management accountants’ changing identities and roles – a systematic literature review. Journal of Accounting and Organizational Change, Vol. 16, Issue 3, 311–347. https://doi.org/10.1108/JAOC-02-2019-0025

          12. Petticrew, M., Roberts, H. (2008). Systematic Reviews in the Social Sciences: A Practical Guide. Malden, MA, Wiley-Blackwell, 323 p. https://doi.org/10.1002/9780470754887

          13. Tranfield, D., Denyer, D., Smart, P. (2003). Towards a methodology for developing evidence informed management knowledge by means of systematic review. British Journal of Management, Vol. 14, Issue 3, 207–222. https://doi.org/10.1111/1467-8551.00375

          14. Denyer, D., Tranfield, D. (2009). Chapter 39 Producing a Systematic Review. In: The Sage Handbook of Organizational Research Methods. Edited by D. Buchanan, A. Bryman. London, Sage Publications Ltd., 671–689. Available at: https://psycnet.apa.org/record/2010-00924-039

          15. Harris, J.D., Quatman, C.E., Manring, M.M., Siston, R.A., Flanigan, D.C. (2013). How to Write a Systematic Review. The American Journal of Sports Medicine, Vol. 42, Issue 11, 2761–2768. https://doi.org/10.1177/0363546513497567

          16. Merigó, J.M., Yang, J.B. (2017). Accounting Research: A Bibliometric Analysis. Australian Accounting Review, Vol. 27, Issue 1, 71–100. https://doi.org/10.1111/auar.12109

          17. Borenstein, M, Hedges, L.V., Higgins, J.P.T., Rothstein, H.R. (2009). Introduction to Meta-Analysis. Introduction to Meta-Analysis. John Wiley & Sons, 421 p. https://doi.org/10.1002/9780470743386

          18. Glass, G.V. (1976). Primary, secondary, and meta-analysis of research. Educational Researcher, Vol. 5, No. 10, 3–8. https://doi.org/10.2307/1174772

          19. Hay, D.C., Knechel, W.R., Wang, N. (2006). Audit fees: A meta-analysis of the effect of supply and demand attributes. Contemporary Accounting Research, Vol. 23, Issue 1, 141–191. https://doi.org/10.1506/4XR4-KT5V-E8CN-91GX

          20. De Nooy, W., Mrvar, A., Batagelj, V. (2018). Exploratory Social Network Analysis with Pajek. Revised and Expanded Edition for Updated Software. Third Edition. Cambridge, Cambridge University Press, 455 p. https://doi.org/10.1017/9781108565691

          21. Ertuğrul, M. (2019). A Review of the Literature on IFRS Adoption from the Perspective of the Value Relevance. In: Handbook of Research on Global Issues in Financial Communication and Investment Decision Making. Edited by H. Dinçer, S. Yüksel. IGI Global Scientific Publishing, 367–394. https://doi.org/10.4018/978-1-5225-9265-5

          22. Wen, W. (2022). Taking stock and moving forward: a systematic literature review on accounting professionalisation in China, 1980–2021. Journal of Accounting in Emerging Economies, Vol. 12, Issue 2, 238–278. https://doi.org/10.1108/JAEE-11-2020-0292

          23. Nerantzidis, M., Vatis, S.E. (2024). Twenty-five years of Accounting History: A bibliometric analysis. Accounting History, Vol. 29, Issue 4, 661–697. https://doi.org/10.1177/10323732241292111

          24. Singh, B. (2021). A Bibliometric Analysis of Behavioral Finance and Behavioral Accounting. American Business Review, Vol. 24, No. 2, 198–230. https://doi.org/10.37625/abr.24.2.198-230

          25. Druzhilovskaya, E.S. (2015). Problems of fair value measurement in the works of modern scientists. International Accounting, No. 25, 57–67. (In Russ.). Available at: https://cyberleninka.ru/article/n/problemy-otsenki-po-spravedlivoy-stoimosti-v-trudah-sovremennyh-uchenyh

          26. Ivanova, O.V. (2012). Historical review of the development of the fair value concept. International Accounting, No. 43, 52–58. (In Russ.). Available at: https://cyberleninka.ru/article/n/istoricheskiy-obzor-razvitiya-kontseptsii-spravedlivoy-stoimosti-1

          27. Ilysheva, N.N., Neverova, O.S. (2014). Development of fair value measurements in light of the application of IFRS 13. International Accounting, No. 28, 2–6. (In Russ.). Available at: https://cyberleninka.ru/article/n/razvitie-otsenok-po-spravedlivoy-stoimosti-v-svete-primeneniya-msfo-ifrs-13

          28. Kuzubov, S.A. (2014). Development of conceptual approaches to measuring goodwill in historical perspective. Part 1. Journal of Corporate Finance Research, Vol. 8, No. 3, 99–108. (In Russ.). https://doi.org/10.17323/j.jcfr.2073-0438.8.3.2014.94-104

          29. Lisovskaya, I.A., Sidorova, M.I., Chipurenko, E.V. (2013). IFRS: Analysis of World Experience of Global Accounting Standardization. International Accounting, No. 40, 2–14. (In Russ.). Available at: https://cyberleninka.ru/article/n/msfo-analiz-mirovogo-opyta-globalnoy-standartizatsii-ucheta

          30. Plotnikov, V.S., Plotnikova, O.V., Shevchuk, A.I. (2015). Evolution of the Fair Value Measurement Concept. Accounting in Budgetary and Non-Commercial Organizations, No. 20, 38–41. (In Russ.). https://www.elibrary.ru/item.asp?id=24503997

          31. Nikitina, N.N., Kuramshina, A.V. (2021). Fair Value Concept: Content and Application Problems. Innovations and Investments, No. 9, 94–98. (In Russ.). https://doi.org/10.24412/2307-180X-2021-9-94-98

          32. Rozhnova, O.V. (2016). Development of the concept of fair value assessment. Accounting. Analysis. Audit, No. 6, 20–27. (In Russ.). https://doi.org/10.26794/2408-9303-2016-6-20-27

          33. Manko, S.V. (2009). Transition from historical estimates to fair value in financial statements. Taxation, Accounting and Reporting in an Insurance Company, No. 1. (In Russ.). Available at: https://www.reglament.net/ins/nalog/2009_1_article.htm

          34. Abed, I.A., Hussin, N., Ali, M.A., Haddad, H., Shehadeh, M., Hasan, E.F. (2022). Creative Accounting Determinants and Financial Reporting Quality: Systematic Literature Review. Risks, Vol. 10, Issue 4, 76. https://doi.org/10.3390/risks10040076

          35. Abonwara, K.M., Ahmad, N.L.B, Halim, H.B.A. (2021). Determinants and Consequence of Adopting International Financial Reporting Standards (IFRS): A Systematic Literature Review. International Journal of Contemporary Management and Information Technology, Vol. 1, No. 3, 39–48. Available at: https://ijcmit.com/wp-content/uploads/2021/03/Abonwara-et-al.-2021.pdf

          36. Dedyansyah, A.F., Pujiningsih, S., Maharani, S.N. (2021). The Impact of IFRS Adoption on the Quality of Accounting Information: Systematic Literature Review. Oblìk ì Fìnansi, No. 4, 5–15. https://doi.org/10.33146/2307-9878-2021-4(94)-5-15

          37. Fernandes, H.C., Pita, J.L., Jesus, J.D., Camara, G.M. (2021). Public Sector Accounting in Europe: A Systematic Literature Review. International Journal of Financial Research, Vol. 12, No. 4, 88–99. https://doi.org/10.5430/ijfr.v12n4p88

          38. Kaya, A., ve Hatunoğlu, Z. (2023). Publications on Accounting Standards in Web of Science Database: A Bibliometric Analysis. Muhasebe Bilim Dünyası Dergisi, Vol. 25, Issue 1, 1–26. https://doi.org/10.31460/mbdd.1033598

          39. Pawsey, N. (2016). Literature Review on IFRS adoption in Australia. AASB. Agenda paper M150. AASB Research Report 2016. AASB Research Report, No. 3. Australian Accounting Standards Board, 39 p. Available at: http://www.aasb.gov.au/admin/file/content102/c3/AASB_RR-12_10_16_IFRS_Lit_Review.pdf

          40. Munteanu, I., Jakubowicz, F.V. (2022). A Bibliometric Analysis of Scientific Accounting Studies Concerning Fiscal Topics. “Ovidius” University Annals, Economic Sciences Series, Vol. XXII, Issue 2, 920–926. https://doi.org/10.61801/OUAESS.2022.2.127

          41. Nerantzidis, M., Vatis, S.E. (2024). Twenty Years of Accounting in Europe: A Bibliometric Analysis. Accounting in Europe, Vol. 21, Issue 3, 246–272. https://doi.org/10.1080/17449480.2024.2360934

          42. Newman, W., Edmore, T., Milondzo, K., Ongayi, W.V. (2016). A Literature Review on the Impact of IAS/IFRS and Regulations on Quality of Financial Reporting. Risk Governance & Control: Financial Markets & Institutions, Vol. 6, Issue 4, 102–108. https://doi.org/10.22495/rcgv6i4art13

          43. Obrenovic, B., Oblakovic, G., Asa, A.R. (2024). Bibliometric Analysis of Financial and Economic Implications during the COVID-19 Pandemic Crisis. Sustainability, Vol. 16, Issue 7, 2897. https://doi.org/10.3390/su16072897

          44. Ortega, X. (2017). A Review of IFRS and U.S. GAAP Convergence History and Relevant Studies. International Business Research, Vol. 10, No. 9, 31–38. https://doi.org/10.5539/ibr.v10n9p31

          45. Salah, W. (2020). The International Financial Reporting Standards and Firm Performance: A Systematic Review. Applied Finance and Accounting, Vol. 6, No. 2, 1–10. https://doi.org/10.11114/afa.v6i2.4851

          46. Sampaio, C.A. (2020). Fair Value Accounting: A Systematic Literature Review. In: Handbook of Research on Accounting and Financial Studies. Edited by L. Farinha, A. Cruz, J. Sebastião. IGI Global Scientific Publishing, 22–36. https://doi.org/10.4018/978-1-7998-2136-6.ch002

          47. Tijjani, B., Ur Rehman, S., Peter, Z., Bajwa, I.A., Khan, M.A. (2020). Research productivity of International Financial Reporting Standards (IFRS) from 2003 to 2020. Global Knowledge, Memory and Communication, Vol. 72, Issue 1-2, 1–23. https://doi.org/10.1108/GKMC-02-2021-0025

          48. İyibildiren, M., Eren, T., Ceran, M.B. (2023). Bibliometric analysis of publications on web of science database related to accounting information system with mapping technique. Cogent Business & Management, Vol. 10, Issue 1, 2160584. https://doi.org/10.1080/23311975.2022.2160584

          49. Rodchenkov, M.V., Suyts, V.P. (2021). Problems and specifics of the convergence of national accounting systems under the influence of IFRS. Moscow University Economic Bulletin, No. 4, 29–48. (In Russ.). https://doi.org/10.38050/01300105202142

Acknowledgements

The author expresses gratitude to the participants of the International Annual Scientific Conference "Lomonosov Readings. Section of Economic Sciences" (based at the Faculty of Economics, Lomonosov Moscow State University) and the IX International Scientific Conference - Sokolov Readings (held within the framework of the INTERNATIONAL ECONOMIC SYMPOSIUM at St. Petersburg State University), for their practical and constructive comments and advice on the issues under considered. Also, special thanks are due to Vladimir Batagelj, Professor at the University of Ljubljana for his methodological recommendations on visualizing the results of social network analysis.

About Authors

Mikhail Viktorovich Rodchenkov

Candidate of Economic Sciences, Doctoral Candidate, Department of Accounting, Analysis and Audit, Faculty of Economics, Lomonosov Moscow State University, Moscow, Russia (119991, Moscow, GSP-1, Leninskie Gory, 1, building, 46); Chief Researcher, Higher School of Management (CQE), Moscow, Russia (105203, Moscow, 14th Parkovaya street, 6); ORCID https://orcid.org/0000-0002-6938-2313 e-mail: M.Rodchenkov@gmail.com

For citation

Rodchenkov, M.V. (2025). A Meta-Systematic Review of the Literature on Accounting and Financial Reporting: A Comparison of Russian and International Practices. Journal of Applied Economic Research, Vol. 24, No. 3, 1093-1132. https://doi.org/10.15826/vestnik.2025.24.3.036

Article info

Received April 26, 2025; Revised May 22, 2025; Accepted May 26, 2025.

DOI: https://doi.org/10.15826/vestnik.2025.24.3.036

Download full text article: